Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash, cash equivalents, and restricted cash (restricted cash of $10,675 and $10,678 at March 31, 2025 and December 31, 2024, respectively) $ 149,704 $ 153,445
Commissions receivable 13,468 18,804
Prepaid expenses 7,422 9,311
Income tax receivable 6,050 6,030
Marketable debt securities, available-for-sale (amortized cost of $119,432 and $189,667 at March 31, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses) 119,381 189,667
Advances and loans, net 15,515 17,519
Other assets, current 13,563 15,543
Total current assets 325,103 410,319
Property and equipment, net 24,864 26,139
Operating lease right-of-use assets, net 80,712 81,120
Marketable debt securities, available-for-sale (amortized cost of $61,827 and $52,366 at March 31, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses) 61,113 51,147
Assets held in rabbi trust 11,995 12,191
Deferred tax assets, net 57,468 48,080
Goodwill and other intangible assets, net 42,966 43,521
Advances and loans, net 173,933 173,657
Other assets, non-current 23,870 23,626
Total assets 802,024 869,800
Current liabilities:    
Accounts payable and accrued expenses 9,573 13,737
Deferred compensation and commissions 29,523 67,197
Operating lease liabilities 18,789 18,522
Accrued bonuses and other employee related expenses 10,774 25,485
Other liabilities, current 17,588 8,076
Total current liabilities 86,247 133,017
Deferred compensation and commissions 26,160 33,257
Operating lease liabilities 65,152 65,701
Other liabilities, non-current 6,912 7,007
Total liabilities 184,471 238,982
Commitments and contingencies 0 0
Stockholders’ equity:    
Preferred stock 0 0
Common stock 4 4
Additional paid-in capital 174,799 173,340
Retained earnings 443,830 458,907
Accumulated other comprehensive loss (1,080) (1,433)
Total stockholders’ equity 617,553 630,818
Total liabilities and stockholders’ equity $ 802,024 $ 869,800