10/24KINDER MORGAN, INC.(KMI)10/24WESTERN DIGITAL CORP(WDC)10/24HALLIBURTON CO(HAL)10/24DOW INC.(DOW)10/24TEXAS INSTRUMENTS INC(TXN)10/24JABIL INC(JBL)10/24OMNICOM GROUP INC.(OMC)10/24Philip Morris International Inc.(PM)10/24AMERICAN EXPRESS CO(AXP)10/24HUNT J B TRANSPORT SERVICES INC(JBHT)10/24CME GROUP INC.(CME)10/24STEEL DYNAMICS INC(STLD)10/24LAS VEGAS SANDS CORP(LVS)10/24QUEST DIAGNOSTICS INC(DGX)10/24TELEDYNE TECHNOLOGIES INC(TDY)10/22SPACE EXPLORATION TECHNOLOGIES CORP(SPCX)10/22American Airlines Group Inc.(AAL)10/22PG&E Corp(PCG)10/22COMCAST CORP(CMCSA)10/22Tesla, Inc.(TSLA)10/22Meta Platforms, Inc.(META)10/22Bloom Energy Corp(BE)10/22LAM RESEARCH CORP(LRCX)10/22PROCTER & GAMBLE Co(PG)10/22ROLLINS INC(ROL)10/22SOUTHWEST AIRLINES CO(LUV)10/22Element Solutions Inc(ESI)10/22INTERNATIONAL BUSINESS MACHINES CORP(IBM)10/22Liberty Energy Inc.(LBRT)10/22Allegion plc(ALLE)10/22DOVER Corp(DOV)10/22HONEYWELL INTERNATIONAL INC(HON)10/22Snap-on Inc(SNA)10/22NORFOLK SOUTHERN CORP(NSC)10/22NASDAQ, INC.(NDAQ)10/22UNION PACIFIC CORP(UNP)10/22PULTEGROUP INC MI(PHM)10/22COMFORT SYSTEMS USA INC(FIX)10/22VERISIGN INC CA(VRSN)10/22CBRE GROUP, INC.(CBRE)10/22LOCKHEED MARTIN CORP(LMT)10/21NETFLIX INC(NFLX)10/21AT&T INC.(T)10/21CSX CORP(CSX)10/21United Airlines Holdings, Inc.(UAL)10/21WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP(WAB)10/21Elevance Health, Inc.(ELV)10/21JOHNSON & JOHNSON(JNJ)10/21UNITED RENTALS, INC.(URI)10/21INTUITIVE SURGICAL INC(ISRG)10/20CLEVELAND-CLIFFS INC.(CLF)10/20General Motors Co(GM)10/20RTX Corp(RTX)10/20GENERAL ELECTRIC CO(GE)10/20PEGASYSTEMS INC(PEGA)10/20Albertsons Companies, Inc.(ACI)10/203M CO(MMM)10/20FACTSET RESEARCH SYSTEMS INC(FDS)10/20GENUINE PARTS CO(GPC)10/20MSCI Inc.(MSCI)10/20EQUIFAX INC(EFX)10/19FASTENAL CO(FAST)10/16Accenture plc(ACN)10/16TRAVELERS COMPANIES, INC.(TRV)10/15MARSH & MCLENNAN COMPANIES, INC.(MRSH)10/13DOMINOS PIZZA INC(DPZ)10/9MICRON TECHNOLOGY INC(MU)10/9DELTA AIR LINES, INC.(DAL)10/8PEPSICO INC(PEP)10/8LEVI STRAUSS & CO(LEVI)10/8CONSTELLATION BRANDS, INC.(STZ)10/8CINTAS CORP(CTAS)10/6Lamb Weston Holdings, Inc.(LW)10/2NIKE, Inc.(NKE)10/2DARDEN RESTAURANTS INC(DRI)9/30CONAGRA BRANDS INC.(CAG)9/29Carnival Corp Ltd.(CCL)9/29URANIUM ENERGY CORP(UEC)9/29COPART INC(CPRT)9/24BLACKBERRY Ltd(BB)9/24PAYCHEX INC(PAYX)9/23GENERAL MILLS INC(GIS)9/22ADOBE INC.(ADBE)9/18KROGER CO(KR)10/24KINDER MORGAN, INC.(KMI)10/24WESTERN DIGITAL CORP(WDC)10/24HALLIBURTON CO(HAL)10/24DOW INC.(DOW)10/24TEXAS INSTRUMENTS INC(TXN)10/24JABIL INC(JBL)10/24OMNICOM GROUP INC.(OMC)10/24Philip Morris International Inc.(PM)10/24AMERICAN EXPRESS CO(AXP)10/24HUNT J B TRANSPORT SERVICES INC(JBHT)10/24CME GROUP INC.(CME)10/24STEEL DYNAMICS INC(STLD)10/24LAS VEGAS SANDS CORP(LVS)10/24QUEST DIAGNOSTICS INC(DGX)10/24TELEDYNE TECHNOLOGIES INC(TDY)10/22SPACE EXPLORATION TECHNOLOGIES CORP(SPCX)10/22American Airlines Group Inc.(AAL)10/22PG&E Corp(PCG)10/22COMCAST CORP(CMCSA)10/22Tesla, Inc.(TSLA)10/22Meta Platforms, Inc.(META)10/22Bloom Energy Corp(BE)10/22LAM RESEARCH CORP(LRCX)10/22PROCTER & GAMBLE Co(PG)10/22ROLLINS INC(ROL)10/22SOUTHWEST AIRLINES CO(LUV)10/22Element Solutions Inc(ESI)10/22INTERNATIONAL BUSINESS MACHINES CORP(IBM)10/22Liberty Energy Inc.(LBRT)10/22Allegion plc(ALLE)10/22DOVER Corp(DOV)10/22HONEYWELL INTERNATIONAL INC(HON)10/22Snap-on Inc(SNA)10/22NORFOLK SOUTHERN CORP(NSC)10/22NASDAQ, INC.(NDAQ)10/22UNION PACIFIC CORP(UNP)10/22PULTEGROUP INC MI(PHM)10/22COMFORT SYSTEMS USA INC(FIX)10/22VERISIGN INC CA(VRSN)10/22CBRE GROUP, INC.(CBRE)10/22LOCKHEED MARTIN CORP(LMT)10/21NETFLIX INC(NFLX)10/21AT&T INC.(T)10/21CSX CORP(CSX)10/21United Airlines Holdings, Inc.(UAL)10/21WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP(WAB)10/21Elevance Health, Inc.(ELV)10/21JOHNSON & JOHNSON(JNJ)10/21UNITED RENTALS, INC.(URI)10/21INTUITIVE SURGICAL INC(ISRG)10/20CLEVELAND-CLIFFS INC.(CLF)10/20General Motors Co(GM)10/20RTX Corp(RTX)10/20GENERAL ELECTRIC CO(GE)10/20PEGASYSTEMS INC(PEGA)10/20Albertsons Companies, Inc.(ACI)10/203M CO(MMM)10/20FACTSET RESEARCH SYSTEMS INC(FDS)10/20GENUINE PARTS CO(GPC)10/20MSCI Inc.(MSCI)10/20EQUIFAX INC(EFX)10/19FASTENAL CO(FAST)10/16Accenture plc(ACN)10/16TRAVELERS COMPANIES, INC.(TRV)10/15MARSH & MCLENNAN COMPANIES, INC.(MRSH)10/13DOMINOS PIZZA INC(DPZ)10/9MICRON TECHNOLOGY INC(MU)10/9DELTA AIR LINES, INC.(DAL)10/8PEPSICO INC(PEP)10/8LEVI STRAUSS & CO(LEVI)10/8CONSTELLATION BRANDS, INC.(STZ)10/8CINTAS CORP(CTAS)10/6Lamb Weston Holdings, Inc.(LW)10/2NIKE, Inc.(NKE)10/2DARDEN RESTAURANTS INC(DRI)9/30CONAGRA BRANDS INC.(CAG)9/29Carnival Corp Ltd.(CCL)9/29URANIUM ENERGY CORP(UEC)9/29COPART INC(CPRT)9/24BLACKBERRY Ltd(BB)9/24PAYCHEX INC(PAYX)9/23GENERAL MILLS INC(GIS)9/22ADOBE INC.(ADBE)9/18KROGER CO(KR)
Balance Sheets Overview
Current Ratio
151.72%
Quick Ratio
151.72%
Cash Ratio
56.35%
Debt to Asset Ratio
31.59%
Unit: Thousand (K) dollars
Assets Breakdown
Commissions receivable, net
Cash and cash equivalents
Long-term investments
Others
Liabilities Breakdown
Additional paid-in capital
Accumulated deficit
Accounts payable
Others
Balance Sheets
2026-06-30
2026-03-31
2025-12-31
Cash and cash equivalents
112,158
107,909
91,091
Short-term investments
56,161
36,692
34,876
Accounts receivable, net
57,211
53,337
36,498
Commissions receivable-current, net
30,886
26,382
28,786
Prepaid and other current assets
45,585
35,032
54,553
Total current assets
302,001
259,352
245,804
Commissions receivable, net
293,394
265,021
224,219
Property and equipment
32,071
29,940
26,534
Accumulated depreciation and amortization
21,085
19,652
18,345
Property and equipment, net
10,986
10,288
8,189
Operating lease right-of-use assets
1,623
1,892
2,183
Goodwill
2,238
2,238
2,238
Acquired intangible assets, net of amortization
611
637
662
Long-term investments
84,536
79,203
31,468
Other long-term assets
695
733
574
Total long-term assets
394,083
360,012
269,533
Total assets
696,084
619,364
515,337
Accounts payable
80,353
65,908
55,070
Accrued expenses
62,053
53,026
39,224
Liabilities related to sale of commissions receivable-current
9,491
10,724
11,750
Operating lease liabilities-current
1,031
1,129
1,125
Other current liabilities
46,117
24,170
6,021
Total current liabilities
199,045
154,957
113,190
Liabilities related to sale of commissions receivable-non-current
8,738
10,459
12,509
Operating lease liabilities-non-current
742
922
1,228
Deferred tax liability
11,393
11,703
8,529
Other long-term liabilities
-
-
0
Total long-term liabilities
20,873
23,084
22,266
Total liabilities
219,918
178,041
135,456
Redeemable convertible preferred stock, par value 0.0001 - 37,400 and 37,228 shares authorized, 37,228 issued, and outstanding (liquidation preference of 404,801) as of december 31, 2025 and december 31, 2024
-
-
403,997
Common stock, 0.0001 par value, nil and 1,040,000 shares, class a common stock, 0.0001 par value, 1,000,000 and nil shares, and class b common stock, 0.0001 par value, 40,000 and nil shares authorized at june 30, 2026 and december 31, 2025, respectively nil and 16,647 shares common stock, 31,555 and nil shares of common stock class a, and 32,204 and nil shares of class b common stock issued and outstanding at june 30, 2026 and december 31, 2025, respectively
6
6
2
Additional paid-in capital
726,960
711,325
78,950
Accumulated other comprehensive loss
-1,426
-1,103
-554
Accumulated deficit
-249,374
-268,905
-102,514
Total stockholders' equity (deficit)
476,166
441,323
-24,116
Total liabilities, redeemable convertible preferred stock and stockholders' equity
696,084
619,364
515,337
Unit: Thousand (K) dollars (except for numbers of shares and EPS). Numbers labeled with * are estimated quarterly values.
Time Plot
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