Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands |
Mar. 31, 2022 |
Dec. 31, 2021 |
| Assets |
|
|
| Cash and cash equivalents |
$ 319,436
|
$ 379,702
|
| Restricted cash |
2,784
|
4,126
|
| Fixed maturities |
|
|
| Held-to-maturity debt securities, at amortized cost (net of allowance for credit losses of $382 at March 31, 2022 and $0 at December 31, 2021) |
62,416
|
67,164
|
| Mortgage loans |
1,141
|
2,022
|
| Other long-term investments |
325
|
325
|
| Total investments |
63,882
|
69,511
|
| Receivables (net of allowance for credit losses of $1,226 at March 31, 2022 and $1,082 at December 31, 2021) |
12,496
|
15,498
|
| Prepaid expenses, deposits and other assets |
10,844
|
15,692
|
| Lease right-of-use assets |
26,701
|
|
| Fixed assets (net of accumulated depreciation of $22,323 at March 31, 2022 and $19,543 at December 31, 2021) |
52,801
|
45,953
|
| Title plants |
13,952
|
13,952
|
| Goodwill |
111,487
|
111,487
|
| Total assets |
614,383
|
655,921
|
| Liabilities and stockholders’ equity |
|
|
| Accounts payable |
3,891
|
6,930
|
| Accrued expenses and other liabilities |
35,477
|
54,149
|
| Lease liabilities |
27,659
|
|
| Senior secured credit agreement, net of debt issuance costs and original issue discount |
144,858
|
141,769
|
| Liability for loss and loss adjustment expenses |
82,534
|
80,267
|
| Warrant liabilities |
6,067
|
16,467
|
| Sponsor Covered Shares liability |
1,916
|
5,415
|
| Total liabilities |
302,402
|
304,997
|
| Commitments and contingencies |
|
|
| Stockholders’ equity: |
|
|
| Common stock, 0.0001 par value; 2,000,000,000 shares authorized at March 31, 2022; 324,348,254 and 323,347,806 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively |
33
|
33
|
| Additional paid-in capital |
554,552
|
543,070
|
| Accumulated deficit |
(242,604)
|
(192,179)
|
| Accumulated other comprehensive income |
0
|
0
|
| Total stockholders’ equity |
311,981
|
350,924
|
| Total liabilities and stockholders’ equity |
$ 614,383
|
$ 655,921
|