Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.25.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash, cash equivalents, and restricted cash (restricted cash of $11,036 and $10,678 at September 30, 2025 and December 31, 2024, respectively) $ 117,360 $ 153,445
Commissions receivable 17,931 18,804
Prepaid expenses 8,871 9,311
Income tax receivable 6,371 6,030
Marketable debt securities, available-for-sale (amortized cost of $129,413 and $189,667 at September 30, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses) 129,420 189,667
Advances and loans, net 12,405 17,519
Other assets, current 17,449 15,543
Total current assets 309,807 410,319
Property and equipment, net 24,487 26,139
Operating lease right-of-use assets, net 75,257 81,120
Marketable debt securities, available-for-sale (amortized cost of $134,567 and $52,366 at September 30, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses) 134,719 51,147
Assets held in rabbi trust 13,266 12,191
Deferred tax assets, net 48,711 48,080
Goodwill and other intangible assets, net 42,026 43,521
Advances and loans, net 139,063 173,657
Other assets, non-current 25,158 23,626
Total assets 812,494 869,800
Current liabilities:    
Accounts payable and accrued expenses 14,715 13,737
Deferred compensation and commissions 42,192 67,197
Operating lease liabilities 19,278 18,522
Accrued bonuses and other employee related expenses 18,758 25,485
Other liabilities, current 18,243 8,076
Total current liabilities 113,186 133,017
Deferred compensation and commissions 29,793 33,257
Operating lease liabilities 59,277 65,701
Other liabilities, non-current 7,997 7,007
Total liabilities 210,253 238,982
Commitments and contingencies 0 0
Stockholders’ equity:    
Preferred stock 0 0
Common stock 4 4
Additional paid-in capital 186,778 173,340
Retained earnings 415,288 458,907
Accumulated other comprehensive income (loss) 171 (1,433)
Total stockholders’ equity 602,241 630,818
Total liabilities and stockholders’ equity $ 812,494 $ 869,800