Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED BALANCE SHEETS

v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash, cash equivalents, and restricted cash (restricted cash of $11,253 and $10,678 at December 31, 2025 and December 31, 2024, respectively) $ 161,921 $ 153,445
Commissions receivable 14,851 18,804
Prepaid expenses 10,424 9,311
Income tax receivable 1,962 6,030
Marketable debt securities, available-for-sale (amortized cost of $90,557 and $189,667 at December 31, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses) 90,564 189,667
Advances and loans, net 15,299 17,519
Other assets, current 14,189 15,543
Total current assets 309,210 410,319
Property and equipment, net 23,877 26,139
Operating lease right-of-use assets, net 74,333 81,120
Marketable debt securities, available-for-sale (amortized cost of $145,570 and $52,366 at December 31, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses) 145,701 51,147
Assets held in rabbi trust 13,476 12,191
Deferred tax assets, net 44,586 48,080
Goodwill and other intangible assets, net 41,662 43,521
Advances and loans, net 147,215 173,657
Other assets, non-current 27,120 23,626
Total assets 827,180 869,800
Current liabilities:    
Accounts payable and accrued expenses 11,021 13,737
Deferred compensation and commissions 57,463 67,197
Operating lease liabilities 18,796 18,522
Accrued bonuses and other employee related expenses 23,856 25,485
Other liabilities, current 10,311 8,076
Total current liabilities 121,447 133,017
Deferred compensation and commissions 35,416 33,257
Operating lease liabilities 59,459 65,701
Other liabilities, non-current 7,755 7,007
Total liabilities 224,077 238,982
Commitments and contingencies 0 0
Stockholders’ equity:    
Preferred stock 0 0
Common stock 4 4
Additional paid-in capital 192,945 173,340
Retained earnings 409,753 458,907
Accumulated other comprehensive income (loss) 401 (1,433)
Total stockholders’ equity 603,103 630,818
Total liabilities and stockholders’ equity $ 827,180 $ 869,800