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Consolidated Balance Sheets

In millions of USD; shares in millions, except per-share amounts
Q3 FY2026
As of Sep 30, 2026
Q2 FY2026
As of Jun 30, 2026
Q1 FY2026
As of Mar 31, 2026
Q4 FY2025
As of Dec 31, 2025
Q3 FY2025
As of Sep 30, 2025
Assets
Current assets:
Cash and cash equivalents
IPO transaction costs shareholder reimbursement receivable
Fiduciary cash
Fiduciary receivable
Commissions and fees receivable
Prepaid expenses and other current assets
Income tax receivable
Total current assets
Intangible assets, net
Intangible Assets Excluding Capitalized Software
Software, Internally Developed
Total intangible assets, net
Internally developed software, net
Goodwill
Deferred tax assets
Deferred financing asset
Total assets
Liabilities and Stockholders’ Deficit
Current liabilities:
Accounts payable
Commissions payable
Insurance company payables
Income tax payable
Accrued expenses
Premium deposits
Current portion of debt
Total current liabilities
Debt, less current portion
Early exercise deposit liability
Revolving credit facility
Total liabilities
Redeemable, convertible preferred stock, value
Stockholders’ deficit:
Common stock value
Class A Common Stock
Class B Common Stock
Total common stock value
Accumulated deficit
Additional paid-in capital
Total stockholders’ deficit
Total liabilities and stockholders’ deficit
Common stock, shares authorized (in shares)
Class A Common Stock
Class B Common Stock
Total common stock, shares authorized (in shares)

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