Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash, cash equivalents, and restricted cash $ 170,753 $ 235,873
Commissions receivable 16,171 8,453
Prepaid expenses 8,813 9,411
Income tax receivable 9,299 8,682
Marketable debt securities, available-for-sale (amortized cost of $169,018 and $254,682 at December 31, 2023 and December 31, 2022, respectively, and $0 allowance for credit losses) 168,881 253,434
Advances and loans, net 3,574 4,005
Other assets, current 16,203 7,282
Total current assets 393,694 527,140
Property and equipment, net 27,450 27,644
Operating lease right-of-use assets, net 90,058 87,945
Marketable debt securities, available-for-sale (amortized cost of $69,538 and $72,819 at December 31, 2023 and December 31, 2022, respectively, and $0 allowance for credit losses) 67,459 68,595
Assets held in rabbi trust 10,838 9,553
Deferred tax assets, net 46,930 41,321
Goodwill and other intangible assets, net 51,183 55,696
Advances and loans, net 175,827 169,955
Other assets, non-current 14,972 15,859
Total assets 878,411 1,003,708
Current liabilities:    
Accounts payable and accrued expenses 8,126 11,450
Deferred compensation and commissions 55,769 75,321
Operating lease liabilities 18,336 16,984
Accrued bonuses and other employee related expenses 19,119 38,327
Other liabilities, current 3,919 9,933
Total current liabilities 105,269 152,015
Deferred compensation and commissions 47,771 64,461
Operating lease liabilities 69,407 65,109
Other liabilities, non-current 10,690 8,614
Total liabilities 233,137 290,199
Commitments and contingencies 0 0
Stockholders' equity:    
Preferred stock: $0.001 par value: Authorized shares – 25,000,000; issued and outstanding shares – none at December 31, 2023 and December 31, 2022, respectively 0 0
Common stock: $0.0001 par value: Authorized shares – 150,000,000; issued and outstanding shares – 38,412,484 and 39,255,838 at December 31, 2023 and December 31, 2022, respectively 4 4
Additional paid-in capital 153,740 131,541
Retained earnings 492,298 585,581
Accumulated other comprehensive loss (768) (3,617)
Total stockholders’ equity 645,274 713,509
Total liabilities and stockholders’ equity $ 878,411 $ 1,003,708