Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash, cash equivalents, and restricted cash (restricted cash of $10,847 and $10,678 at June 30, 2025 and December 31, 2024, respectively) $ 85,954 $ 153,445
Commissions receivable 16,897 18,804
Prepaid expenses 7,738 9,311
Income tax receivable 6,363 6,030
Marketable debt securities, available-for-sale (amortized cost of $136,518 and $189,667 at June 30, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses) 136,461 189,667
Advances and loans, net 33,764 17,519
Other assets, current 14,902 15,543
Total current assets 302,079 410,319
Property and equipment, net 24,176 26,139
Operating lease right-of-use assets, net 79,399 81,120
Marketable debt securities, available-for-sale (amortized cost of $110,275 and $52,366 at June 30, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses) 110,206 51,147
Assets held in rabbi trust 12,757 12,191
Deferred tax assets, net 50,013 48,080
Goodwill and other intangible assets, net 42,713 43,521
Advances and loans, net 145,940 173,657
Other assets, non-current 24,926 23,626
Total assets 792,209 869,800
Current liabilities:    
Accounts payable and accrued expenses 10,910 13,737
Deferred compensation and commissions 37,428 67,197
Operating lease liabilities 18,627 18,522
Accrued bonuses and other employee related expenses 15,950 25,485
Other liabilities, current 4,097 8,076
Total current liabilities 87,012 133,017
Deferred compensation and commissions 26,318 33,257
Operating lease liabilities 63,794 65,701
Other liabilities, non-current 7,310 7,007
Total liabilities 184,434 238,982
Commitments and contingencies 0 0
Stockholders’ equity:    
Preferred stock 0 0
Common stock 4 4
Additional paid-in capital 181,624 173,340
Retained earnings 425,822 458,907
Accumulated other comprehensive income (loss) 325 (1,433)
Total stockholders’ equity 607,775 630,818
Total liabilities and stockholders’ equity $ 792,209 $ 869,800