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FY2025
12 months to Dec 31, 2025
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|---|---|
| Cash flows from operating activities: | |
| Net income | |
| Adjustments to reconcile net income to cash provided by operating activities: | |
| Amortization expense | |
| Amortization of deferred financing fees | |
| Loss on extinguishment of debt | |
| Share-based compensation | |
| Deferred income taxes | |
| (Increase) decrease in operating assets: | |
| Commissions and fees receivable | |
| Income tax receivable | |
| Prepaid expenses and other current assets | |
| Deferred financing asset | |
| Increase (decrease) in operating liabilities: | |
| Accounts payable | |
| Commissions payable | |
| Income tax payable | |
| Accrued expenses | |
| Net cash provided by operating activities | |
| Cash flows from investing activities: | |
| Internal developed software | |
| Purchase of intangible assets | |
| Net cash used in investing activities | |
| Cash flows from financing activities: | |
| Change in fiduciary receivables | |
| Change in fiduciary liabilities | |
| Repayments of term loan | |
| 2021 Credit Agreement | |
| 2023 Credit Agreement | |
| 2025 Credit Agreement | |
| 2024 Credit Agreement | |
| Proceeds from term loan | |
| 2023 Credit Agreement | |
| 2025 Credit Agreement | |
| 2024 Credit Agreement | |
| Payment of deferred financing fees and prepayment penalty | |
| Issuance of common stock | |
| Rescission of common stock | |
| Issuance of redeemable, convertible preferred stock, net of issuance costs | |
| Proceeds from revolving credit facility | |
| Repayments of revolving credit facility | |
| Proceeds from exercise of stock options | |
| Contributed capital, stockholder reimbursement of IPO transaction costs | |
| Cash dividend paid | |
| Net cash used in financing activities | |
| Net increase in cash and cash equivalents and fiduciary cash | |
| Cash and cash equivalents and fiduciary cash: | |
| Beginning of period | |
| End of period | |
| Cash paid for: | |
| Interest | |
| Total income taxes paid | |
| Supplemental disclosure of non-cash financing activities: | |
| Reclassification of unamortized deferred financing fees to deferred financing asset | |
| Cash and cash equivalents | |
| Fiduciary cash |
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