0001722438-23-000040 | 10-K | XBRL Viewer

Segment information

12 Months Ended

Dec. 31, 2022

The Company’s chief operating decision maker reviews financial performance and makes decisions about the allocation of resources for our operations through two reportable segments, (1) Distribution and (2) Underwriting. The Company’s reportable segments offer different products and services that are marketed through different channels for real estate closing transactions. They are managed separately because of the unique technology, service requirements and regulatory environment.

A description of each of our reportable segments is as follows.

•Distribution: Our Distribution segment reflects our Direct Agents operations of acquiring customer orders and providing title and escrow services for real estate closing transactions. We acquire customers through our partnerships with realtors, attorneys and non-centralized loan originators via a 91-branch footprint across eight states as of December 31, 2022 (“Local”) and our partnerships with national lenders and mortgage originators that maintain centralized lending operations representing our Doma Enterprise accounts (“Doma Enterprise”).

•Underwriting: Our Underwriting segment reflects the results of our title insurance underwriting business, including policies referred through our Direct Agents and Third-Party Agents channels. The referring agents typically retain approximately 82% - 84% of the policy premiums in exchange for their services. The retention varies by state and agent.

We use adjusted gross profit as the primary profitability measure for making decisions regarding ongoing operations. Adjusted gross profit is calculated by subtracting direct costs, such as premiums retained by agents, direct labor, other direct costs, and provision for claims, from total revenue. Our chief operating decision maker evaluates the results of the aforementioned segments on a pre-tax basis. Segment adjusted gross profit excludes certain items which are included in net loss, such as depreciation and amortization, corporate and other expenses, goodwill impairment, long-lived asset impairment, change in the fair value of Warrant and Sponsor Covered Shares liabilities, interest expense, and income tax expense, as these items are not considered by the chief operating decision maker in evaluating the segments’ overall operating performance. Our chief operating decision maker does not review nor consider assets allocated to our segments for the purpose of assessing performance or allocating resources. Accordingly, segments’ assets are not presented.

The following table summarizes the operating results of the Company’s reportable segments:


	Year ended December 31, 2022
	Distribution		Underwriting		Eliminations		Consolidated total
Net premiums written	$	—	$	385,253	$	—	$	385,253
Escrow, other title-related fees and other (1)	106,727		2,692		(57,411)		52,008
Investment, dividend and other income	418		2,502		—		2,920
Total revenue	$	107,145	$	390,447	$	(57,411)	$	440,181

Premiums retained by agents (2)	$	—	$	318,887	$	(57,411)	$	261,476
Direct labor (3)	76,175		10,398		—		86,573
Other direct costs (4)	18,741		9,803		—		28,544
Provision for claims	3,165		13,575		—		16,740
Adjusted gross profit	$	9,064	$	37,784	$	—	$	46,848


	Year ended December 31, 2021
	Distribution		Underwriting		Eliminations		Consolidated total
Net premiums written	$	—	$	476,328	$	(976)	$	475,352
Escrow, other title-related fees and other (1)	177,069		3,520		(101,004)		79,585
Investment, dividend and other income	205		2,901		—		3,106
Total revenue	$	177,274	$	482,749	$	(101,980)	$	558,043

Premiums retained by agents (2)	$	—	$	400,425	$	(101,980)	$	298,445
Direct labor (3)	81,204		8,412		—		89,616
Other direct costs (4)	23,726		11,339		—		35,065
Provision for claims	2,257		19,078		—		21,335
Adjusted gross profit	$	70,087	$	43,495	$	—	$	113,582


	Year ended December 31, 2020
	Distribution		Underwriting		Eliminations		Consolidated total
Net premiums written	$	—	$	345,608	$	—	$	345,608
Escrow, other title-related fees and other (1)	129,590		2,099		(70,414)		61,275
Investment, dividend and other income	699		2,232		—		2,931
Total revenue	$	130,289	$	349,939	$	(70,414)	$	409,814

Premiums retained by agents (2)	$	—	$	290,557	$	(70,414)	$	220,143
Direct labor (3)	55,334		6,820		—		62,154
Other direct costs (4)	16,912		3,623		—		20,535
Provision for claims	1,415		13,922		—		15,337
Adjusted gross profit	$	56,628	$	35,017	$	—	$	91,645

_______________

(1)Includes fee income from closings, escrow, title exams, ceding commission income, as well as premiums retained by Direct Agents.

(2)This expense represents a deduction from the net premiums written for the amounts that are retained by Direct Agents and Third-Party Agents as compensation for their efforts to generate premium income for our Underwriting segment. The impact of premiums retained by our Direct Agents and the expense for reinsurance or co-insurance procured on Direct Agent sourced premiums are eliminated in consolidation.

(3)Includes all compensation costs, including salaries, bonuses, incentive payments, and benefits, for personnel involved in the direct fulfillment of title and/or escrow services. Direct labor excludes severance costs.

(4)Includes title examination expense, office supplies, and premium and other taxes.

The following table provides a reconciliation of the Company’s total reportable segments’ adjusted gross profit to its total loss before income taxes:


	Year ended December 31,
	2022		2021		2020
Adjusted gross profit	$	46,848	$	113,582	$	91,645
Depreciation and amortization	16,019		10,321		5,815
Corporate and other expenses (1)	240,283		205,220		114,511
Goodwill impairment	65,207		—		—
Long-lived asset impairment	32,027		—		—
Change in fair value of Warrant and Sponsor Covered Shares liabilities	(21,317)		(6,691)		—
Interest expense	18,080		16,861		5,579
Loss before income taxes	$	(303,451)	$	(112,129)	$	(34,260)

_______________

(1)Includes corporate and other costs not allocated to segments including corporate support function costs, such as legal, finance, human resources, technology support and certain other indirect operating expenses, such as sales and management payroll, and incentive related expenses.

As of December 31, 2022 and 2021, the Distribution segment had allocated goodwill of $22.9 million and $88.1 million, respectively, and the Underwriting segment had allocated goodwill of $23.4 million. There were no additions from acquisitions or adjustments to goodwill resulting from prior year acquisitions in either segment for the years ended December 31, 2022 and 2021. There was an impairment to goodwill in the Distribution segment of $65.2 million for the year ended December 31, 2022. There were no impairments to goodwill in the Underwriting segment for the year ended December 31, 2022. There were no impairments to goodwill in either segment for the years ended 2021 and 2020.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Topic 280
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Accumulated other comprehensive income

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Accumulated other comprehensive income

Following is a summary of the changes in each component of accumulated other comprehensive income:


	Year ended December 31,
	2022		2021		2020
Beginning balance at January 1	$	—	$	686	$	510
Unrealized gain (loss) on available-for-sale debt securities, before tax	(937)		(240)		236
Income tax effect	—		61		(60)
Other comprehensive income, net of tax, before reclassification adjustment	$	(937)	$	507	$	686
Reclassification adjustment for realized gain on sale of available-for-sale debt securities, before tax	—		(678)		—
Income tax effect	—		171		—
Total accumulated other comprehensive income, net of tax	$	(937)	$	—	$	686

The realized gain on sale of available-for-sale debt securities was reclassified from accumulated other comprehensive income to investment, dividend and other income in the consolidated statements of operations.

Liability for loss and loss adjustment expenses

12 Months Ended

Dec. 31, 2022

Insurance [Abstract]

Liability for loss and loss adjustment expenses

A summary of the changes in the liability for loss and loss adjustment expenses for each of the years ended is as follows:


	Year ended December 31,
	2022			2021			2020
Balance at the beginning of the year	$	80,267		$	69,800		$	62,758

Provision for claims related to:
Current year	$	22,314		$	28,860		$	20,619
Prior years	(5,574)			(7,525)			(5,282)
Total provision for claims	$	16,740		$	21,335		$	15,337

Paid losses related to:
Current year	$	(3,632)		$	(3,180)		$	(2,331)
Prior years	(11,305)			(7,688)			(5,964)
Total paid losses	$	(14,937)		$	(10,868)		$	(8,295)

Balance at the end of the period	$	82,070		$	80,267		$	69,800

Provision for claims as a percentage of net written premiums	4.3		%	4.5		%	4.4		%

We continually update our liability for loss and loss adjustment expense estimates as new information becomes known, new loss patterns emerge, or as other contributing factors are considered and incorporated into the analysis. Estimating future title loss payments is difficult because of the complex nature of title claims, the long periods of time over which claims are paid, significantly varying dollar amounts of individual claims and other factors.

Current year incurred and paid losses includes current year reported claims as well as estimated future losses on such claims.

For the year ended December 31, 2022, the prior year’s provision for claims release of $5.6 million is due to reported loss emergence which was lower than expected. Historically, this favorable loss experience has resulted in a decrease in the projection of ultimate loss for past policy years. Most recently, our favorable loss experience resulted in a decrease in the projection of ultimate loss for policy years 2015, 2018 and 2020. For the year ended December 31, 2021, the provision for claims reserve release related to prior years of $7.5 million is due to reported loss emergence which was lower than expected. This has resulted in a decrease in the projection of ultimate loss for policy years 2018–2020. For the year ended December 31, 2020, the provision for claims reserve release related to prior years of $5.3 million is due to reported loss emergence which was lower than expected. This has resulted in a decrease in the projection of ultimate loss for policy years 2017–2019. The actuarial assumptions underlying the Company’s selected ultimate loss estimates place more consideration on title insurance industry benchmarks for more recent policy years. These title insurance benchmarks are based on industry long-term average loss ratios. As the Company’s claims experience matures, we refine those estimates to put more consideration to the Company’s actual claims experience. For the years ended December 31, 2022, 2021 and 2020, the Company’s actual claims experience reflects lower loss ratios than industry benchmarks from a current positive underwriting cycle and resulted in the favorable development.

Current year incurred and paid losses includes current year reported claims as well as estimated future losses on such claims.

The liability for loss and loss adjustment expenses of $82.1 million and $80.3 million, as of December 31, 2022 and December 31, 2021, respectively, includes $0.2 million and $0.1 million, respectively, of reserves for the

settlement of claims which the Company has deemed to be directly related to its escrow or agent related activities. The reserves for the settlement of claims related to escrow or agent related activities are not actuarially determined.

Stockholders’ equity - Narrative (Details)		12 Months Ended
Stockholders’ equity - Narrative (Details)	Jul. 27, 2021 shares	Dec. 31, 2022 vote $ / shares shares	Dec. 31, 2021 $ / shares shares
Equity [Abstract]
Number of votes for share held \| vote		1
Common stock, shares authorized (in shares)		2,000,000,000	2,000,000,000
Common stock, par value (in usd per share) \| $ / shares		$ 0.0001	$ 0.0001
Number of shares issued after conversion (in shares)	212,000,000
Preferred stock, shares authorized (in shares)		100,000,000
Preferred stock par value (in usd per share) \| $ / shares		$ 0.0001
Preferred stock, shares issued (in shares)		0
Preferred stock, shares outstanding (in shares)		0

Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Allowance for deferred tax assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 55,620	$ 23,330	$ 11,623
Charged to costs and expenses	74,084	32,290	11,707
Deductions	0	0	0
Balance at end of period	129,704	55,620	23,330
Liability for loss and loss adjustment expenses
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	80,267	69,800	62,758
Charged to costs and expenses	16,740	21,335	15,337
Deductions	14,937	10,868	8,295
Balance at end of period	82,070	80,267	69,800
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	1,082	492	210
Charged to costs and expenses	922	1,230	424
Deductions	516	640	142
Balance at end of period	$ 1,488	$ 1,082	$ 492

Stock compensation expense - Nonvested Restricted and Performance Stock Awards (Details) - RSA’s, RSU’s and PRSU’s	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Number of RSAs, RSUs and PRSUs
Beginning balance nonvested (in shares) \| shares	18,579,930
Granted (in shares) \| shares	51,458,080
Exercised (in shares) \| shares	(4,200,188)
Adjustment for PRSUs expected to vest (in shares) \| shares	(1,759,053)
Cancelled or Forfeited (in shares) \| shares	(23,587,020)
Ending balance nonvested (in shares) \| shares	40,491,749
Average Grant Date Fair Value ($)
Beginning balance nonvested (in usd per share) \| $ / shares	$ 6.11
Granted (in usd per share) \| $ / shares	1.51
Exercised (in usd per share) \| $ / shares	5.25
Adjustment for PRSUs expected to vest (in usd per share) \| $ / shares	5.14
Cancelled or Forfeited (in usd per share) \| $ / shares	3.58
Ending balance nonvested (in usd per share) \| $ / shares	$ 1.87

Summary of significant accounting policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Summary of significant accounting policies

Basis of presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and in accordance with the rules and regulations of the United States Securities and Exchange Commission (“SEC”).

References to the Accounting Standard Codification (“ASC”) and Accounting Standard Updates (“ASU”) included hereinafter refer to the Accounting Standards Codification and Updates issued by the Financial Accounting Standards Board (“FASB”) as the source of authoritative U.S. GAAP. The accompanying consolidated financial statements include the accounts of the Company and the accounts of the Company’s wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period.

Actual results could differ from the estimates made by management. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognized prospectively.

Significant items subject to such estimates and assumptions include, but are not limited to, reserves for incurred but not reported claims, the useful lives of property and equipment, accrued net premiums written from Third-Party Agent (as defined in Item 7) referrals, the fair value measurements, valuation of goodwill impairment, the valuations of stock-based compensation arrangements and the Sponsor Covered Shares liability (as defined below).

Cash and cash equivalents and restricted cash

Cash and cash equivalents include cash on hand and on deposit at banking institutions as well as all highly liquid short-term investments with original maturities of 90 days or less. The carrying amounts reported in the consolidated balance sheets for these instruments approximate their fair value.

As of December 31, 2022 and 2021, the Company had restricted cash of $2.9 million and $4.1 million, respectively, including deposits in several states pledged in accordance with the applicable state insurance regulations, and certain collateral requirements in connection with leases for office space.

Investments

Fixed maturity securities

Investment securities classified as held-to-maturity are carried at amortized cost because they are purchased with the intent and ability to be held to maturity. The Company also holds restricted investments which are treated as held-to-maturity debt securities. Restricted investments consist of United States Treasuries with maturities of 24 months or less. These restricted investments are kept on deposit in several states and are pledged to the appropriate insurance regulators, in accordance with regulations in each state, for the duration of the time the Company does business in those states.

The Company recognizes credit losses for its held-to-maturity debt securities by setting up an allowance which is remeasured each reporting period, with changes in the allowance recorded in the consolidated statements of operations. The Company establishes an allowance for credit losses based on a number of factors including the current economic conditions, management's expectations of future economic conditions and performance indicators, such as credit agency ratings and payment and default history. As of December 31, 2022, credit agency ratings on our U.S. Treasury and corporate debt securities ranged from AAA through B2.

For our held-to-maturity debt securities, the Company's model estimates expected credit loss by multiplying the exposure at default by both the probability of default and loss given default (“LGD”). The probability of default and LGD percentages are estimated after considering historical experience with global default rates and unsecured bond recovery rates for horizons aligning to the Company’s held-to-maturity debt security portfolio. The calculated allowance is recorded as an offset to held-to-maturity debt securities in the consolidated balance sheets and in the investment, dividend and other income line on the consolidated statements of operations.

Debt securities are classified as available-for-sale unless they are classified as held-to-maturity or trading. Available-for-sale debt securities are recorded at fair value. Any unrealized holding gains or losses on available-for-sale debt securities are reported as accumulated other comprehensive gain or loss, which is a separate component of stockholders’ equity, net of tax, until realized.

Mortgage loans

Investments in mortgage loans are long-term investments and carried at the principal balance outstanding, net of charge-offs, unamortized purchase premiums and discounts, and deferred loan fees and costs, as applicable. Mortgage loans are held for investment as management has the intent and ability to hold these loans for the foreseeable future, or until maturity or payoff.

Equity securities

Equity securities are recorded at fair value based upon a quoted market price reported on recognized securities exchanges on the last business day of the year. Any change in unrealized holding gains or losses on equity securities are reported as a component of net income.

Fair value measurements

ASC 820, “Fair Value Measurements and Disclosures” (“ASC 820”) establishes a fair value hierarchy that prioritizes and ranks the level of observability of inputs used to measure investments at fair value. The observability of inputs is impacted by a number of factors, including the type of investment, characteristics specific to the investment, market conditions and other factors. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

The three levels of the fair value hierarchy under ASC 820 are as follows:

Level 1 Quoted prices (unadjusted) in active markets for identical investments at the measurement date are used.

Level 2 Pricing inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 pricing inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 Pricing inputs are unobservable and include situations where there is little, if any, market activity for the asset or liability. The inputs used in determination of fair value require significant judgment and estimation.

When fair value inputs fall within different levels of the fair value hierarchy, the level in the fair value hierarchy within which the asset or liability is categorized in its entirety is determined based on the lowest level input that is significant to the asset or liability. Assessing the significance of a particular input to the valuation of an asset or liability in its entirety requires judgment and considers factors specific to the asset or liability. The categorization of an asset or liability within the hierarchy is based upon the pricing transparency of the asset or liability and does not necessarily correspond to the perceived risk of that asset or liability.

Cash and cash equivalents, restricted cash, receivables, prepaid expenses and other assets, accounts payable, and accrued expenses and other liabilities approximate fair value and are therefore excluded from the leveling table seen in Note 4. The cost basis is determined to approximate fair value due to the short-term duration of the financial instruments.

Receivables, net

Receivables are generally due within thirty to ninety days and are recorded net of an allowance for doubtful accounts. Our receivables represent premiums, escrow and related fees due to us as a result of the closing of real estate transactions, investment trade receivables, and other miscellaneous receivables. The Company determines the allowance for doubtful accounts by considering a number of factors, including the length of time receivables are past due, previous loss history and a specific customer’s ability to pay its obligations to the Company. Amounts deemed uncollectible are expensed in the period in which such determination is made. As of December 31, 2022 and 2021, the allowance for doubtful accounts was $1.5 million and $1.1 million, respectively.

Fixed assets, net

Fixed assets, net, consists of internally developed software, furniture, computers, acquired software and equipment, and is recorded at cost less accumulated depreciation. Depreciation expense is computed using the straight-line method over the estimated useful life of each asset. Repair and maintenance costs are expensed as incurred. Fixed assets are reviewed for impairment whenever events or circumstances indicate that the carrying amounts may not be recoverable.

The following table summarizes the range of useful lives assigned to fixed assets, by asset class:


Useful lives:
Leasehold improvements			Shorter of the lease term or useful life of the asset
Furniture and equipment			Five years
Computer equipment			Three years
Acquired software			Three to eight years
Internally developed software			Five years

Internally developed or acquired software

Technology and software are acquired or developed for internal use and for use with the Company’s products. Internally developed software and acquired software are amortized over its estimated useful life or, in the case of cloud-based technology, the shorter of its estimated useful life or contract life, and ranges from three to eight years using the straight-line method. Technology development costs, which include certain payroll-related costs of employees directly associated with developing technology and software in addition to incremental payments to third parties, are capitalized from the time technological feasibility is established until the software is ready for use. Capitalized internally developed software and acquired software development costs for the years ended December 31, 2022 and 2021 are included in fixed assets, net in the consolidated balance sheets. The Company analyzes internally developed software and acquired software for impairment when events or circumstances indicate that the carrying amount may not be recoverable.

Title plants

Title plants are carried at cost, with costs incurred to maintain, update and operate title plants expensed as incurred. Because properly maintained title plants have indefinite lives and do not diminish in value with the passage of time, no provision has been made for depreciation or amortization. The Company analyzes the title plants for impairment when events or circumstances indicate that the carrying amount may not be recoverable. This analysis includes, but is not limited to, the effects of obsolescence, duplication, demand and other economic factors. There were no impairments of title plants for the years ended December 31, 2022, 2021 and 2020. In February 2020, we sold a title plant for a total sale price of $3.2 million, including a realized gain of $0.2 million.

Goodwill

Goodwill represents the excess of the acquisition price over the fair value of assets acquired and liabilities assumed in a business combination. Goodwill is assigned to one or more reporting units on the date of acquisition. We review our goodwill for impairment annually on October 1 of each year and between annual tests if events or circumstances arise that would more likely than not reduce the fair value of any one of our reporting units below its respective carrying amount. In performing our annual goodwill impairment test, we first perform a qualitative assessment, which requires that we consider macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, changes in the Company’s stock price, changes in management or key personnel, changes in strategy, changes in customers, changes in the composition or carrying amount of a reporting unit or other factors that have the potential to impact fair value. If, after assessing the totality of events and circumstances, we determine that it is more likely than not that the fair values of our reporting units are greater than the carrying amounts, then the quantitative goodwill impairment test is not performed.

After performing a qualitative and quantitative assessments as of September 30, 2022 and December 31, 2022, we concluded that goodwill in our Distribution reporting unit was impaired. Refer to Note 3 to the consolidated financial statements for additional details on the goodwill impairment during the year ended December 31, 2022.

Trade names

The intangible asset values of the Company’s trade names were determined in the North American Title Acquisition, and were assigned a useful life of seven years. The Company’s finite-lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be

recoverable, and intangibles are also evaluated periodically to determine their remaining useful life. In 2020, the Company determined that there would be a change in the Company’s use of the acquired trade names in the second quarter of 2021. The Company determined that the change in use was not related to the value of the trade names, but to changes in business strategy, and did not result in an impairment. However, the Company changed its estimates of the useful lives of the acquired trade names to better reflect the estimated periods during which these trade names will remain in service. The estimated useful life of the trade names was revised such that the trade names were fully amortized by June 30, 2021. The result of this change in estimate is an increase to 2020 amortization expense of $1.5 million. The amortization expense recorded for the Company’s trade names was $2.7 million, and $2.3 million in 2021 and 2020, respectively. As of December 31, 2021, the Company had no trade names on its consolidated balance sheet.

Revenue recognition

Net premiums written

Insurance premiums on title insurance policies issued directly by the Company through instant and traditional underwriting through our captive title agents and agencies (“Direct Agents”) are recognized on the closing of the underlying transaction, in accordance with ASC Topic 944, Financial Services - Insurance (ASC 944), as substantially all of the services associated with the insurance contract have been rendered at that point in time. Insurance premiums on title insurance policies issued by Third-Party Agents are recognized gross of premiums retained by Third-Party Agents when notice of issuance is received from the Third-Party Agents, which is generally when cash payment is received.

In addition, we estimate and accrue for revenues on policies sold but not reported by Third-Party Agents as of the relevant balance sheet closing date. This accrual is based on historical transactional volume data for title insurance policies that have closed and were not reported before the relevant balance sheet closing, as well as trends in our operations and in the title and housing industries. There could be variability in the amount of this accrual from period to period and amounts subsequently reported to us by Third-Party Agents may differ from the estimated accrual recorded in the preceding period. If the amount of revenue subsequently reported to us by Third-Party Agents is higher or lower than our estimate, we record the difference in revenue in the period in which it is reported. For the years ended December 31, 2022 and 2021, the time lag between the closing of transactions by Third-Party Agents and the reporting of policies, or premiums from policies issued by Third-Party Agents to us has been approximately three months.

Escrow, other title-related fees and other

ASU 2014-09, Revenue from Contracts with Customers (ASC 606) requires that an entity recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Escrow fees and other title-related fees are primarily associated with managing the closing of real estate transactions, including the processing of funds on behalf of the transaction participants, gathering and recording the required closing documents, providing notary and other real estate or title-related activities. The transfer of services for the escrow and other title-related fees are satisfied at the closing of the real estate transaction. Therefore, revenues related to escrow and other title-related fees are recognized at the closing date of the real estate transaction. We also earn a fee for placing and binding title insurance policies with third-party underwriters. In some situations, we act as an agent to place and bind title insurance policies in transactions that involve third-party underwriters in exchange for a fee. This fee is recognized as revenue on the effective date of the policy, which is the closing date of the real estate transaction. It is included in “Escrow, other title-related fees and other” revenue line item in the consolidated statements of operations.

Reinsurance

The Company utilizes excess of loss and quota share reinsurance programs to limit its maximum loss exposure by reinsuring certain risks with other insurers. Reinsurance agreements transfer portions of the underlying risk of the business the Company writes. The Company remains primarily liable to the insured whether or not the reinsurer is able to meet its contractual obligations. However, the reinsurance contract does permit the Company to recover

certain incurred losses from its reinsurers, and reinsurance recoveries reduce the maximum loss that the Company may incur as a result of a covered loss event.

The Company has two reinsurance treaties: the Excess of Loss Treaty and the Quota Share Treaty. Under the Excess of Loss Treaty, we cede liability over $15.0 million on all files. Excess of loss reinsurance coverage protects the Company from a large loss from a single loss occurrence. The Excess of Loss Treaty provides for ceding liability above the retention of $15.0 million for all policies up to a liability cap of $500.0 million.

Under the Quota Share Treaty, during 2020, the Company ceded 100% of its instant underwriting policies. During the period from January 1, 2021 to February 23, 2021 the Company also ceded 100% of its instantly underwriting policies. Effective February 24, 2021 and forward, the Company cedes 25% of the written premium on our instantly underwritten policies.

Payments and recoveries on reinsured losses for the Company’s title insurance business were immaterial during the years ended December 31, 2022, 2021 and 2020.

Ceding commission from reinsurance transactions are presented as revenue within the “Escrow, other title-related fees and other” revenue line item in the consolidated statements of operations.

Total premiums ceded in connection with reinsurance are netted against the written premiums in the consolidated statements of operations. Gross premiums earned and ceded premiums are as follows:


	Year ended December 31
	2022			2021			2020
Gross premiums earned	$	388,068		$	482,232		$	349,636
Ceded premiums	(2,815)			(6,880)			(4,028)
Net premiums earned	$	385,253		$	475,352		$	345,608
Percentage of amount assumed to net	99.3		%	98.6		%	98.8		%

Liability for loss and loss adjustment expenses

Our liability for loss and loss adjustment expenses include reserves for known claims as well as reserves for incurred but not reported (“IBNR”) claims. Each known claim is reserved based on our review of the estimated amount of the claim and the costs required to settle the claim. Reserves for IBNR are estimates that are established at the time the premium revenue is recognized and are based upon historical experience and other factors, including industry trends, claim loss history, legal environment, geographic considerations, and the types of title insurance policies written.

The liability for loss and loss adjustment expenses also includes reserves for losses arising from closing and disbursement functions due to fraud or operational error. These reserves are intended to provide for closing errors when we are acting as the escrow company such as, disbursing to the wrong party, paying the wrong lender, improperly allocating funds or relying on third-party fraudulent documents in closing transactions.

If a loss compensable under a title insurance policy is caused by an act or omission committed by a Third-Party Agent, the Company may seek contribution or reimbursement from the Third-Party Agent. In any event, the Company may proceed against any party who is responsible for any loss under the title insurance policy under rights of subrogation.

Income taxes

Under ASC 740, Income Taxes (“ASC 740”), deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income

in the period of the enactment date. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized.

ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at December 31, 2022, and 2021. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.

Stock compensation expense

The Company recognizes stock-based compensation expense in accordance with the provisions of ASC 718, Compensation - Stock Compensation, (“ASC 718”). ASC 718 requires the measurement and recognition of stock-based compensation expense for all stock-based awards issued to employees and directors based on estimated fair values at the grant date. The Company measures the grant date fair value of stock options using the Black-Scholes option-pricing model. Stock-based compensation expense arising from stock options is recorded on a straight-line basis over the vesting period of each grant. Forfeitures are accounted for as incurred.

For restricted stock awards (“RSAs”), restricted stock units (“RSUs”), and performance restricted stock units (“PRSUs”) awarded in consideration of services rendered by employees and non-employees, the Company recognizes compensation expense in accordance with the requirements of ASC 718 and ASU 2018-07, Improvements to Nonemployee Share-Based Payment Accounting, respectively. The Company measures the fair value of RSAs, RSUs, and PRSUs using the fair market value of the underlying common stock at the grant date. PRSUs are measured on the probable outcome of the performance conditions applicable to each grant. Stock-based compensation expense arising from RSAs, RSUs, and PRSUs is recorded on a straight-line basis over the vesting period of each grant. Forfeitures are accounted for as incurred.

The Company measures the fair value of market-based awards using the fair market value of the underlying common stock at the grant date. The Company recognizes compensation expense related to the market-based awards using the accelerated attribution method over the requisite service period.

Public Warrants and Private Placement Warrants

As a result of the Business Combination, the Company assumed the Public Warrants (as defined in Note 3) and the Private Placement Warrants (as defined in Note 3) (collectively, the “Warrants”) as of the Closing Date. The Warrants meet the definition of derivatives as contemplated in Derivatives and Hedging (“ASC 815”). As such, the Warrants were recorded as liabilities on the balance sheet at fair value upon the consummation of the Business Combination, with subsequent changes in their respective fair values recognized in the consolidated statements of operations at each reporting period.

Sponsor Covered Shares and Seller Earnout Shares

Immediately after the Closing Date, certain common stock held by the Sponsor (as defined in Note 3) became subject to vesting, contingent upon the price of Doma’s common stock, par value $0.0001 (“common stock”) exceeding certain thresholds (the “Sponsor Covered Shares”). The Sponsor Covered Shares are accounted for as a derivative due to the settlement adjustments upon change in control transactions that are not deemed to be indexed to our common stock. As such, the Sponsor Covered Shares were recorded as liabilities on the balance sheet at fair value upon the consummation of the Business Combination, with subsequent changes in their respective fair values recognized in the consolidated statements of operations at each reporting period.

Also following the Closing Date, equity holders of Old Doma prior to the Business Combination (the “Sellers”) have the right to receive an additional number of shares contingent on the price of our common stock. The Seller Earnout Shares (as defined in Note 3) are treated as an equity classified contract because all settlement scenarios,

including those under fundamental change events, are indexed to our common stock (see Note 3 for additional information).

Share counts of our common stock provided in this Annual Report on Form 10-K (this “Annual Report”) exclude both the Sponsor Covered Shares and the Seller Earnout Shares.

Concentration of credit risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in financial institutions and our investment portfolio. The Company has not experienced losses on the cash accounts and management believes the Company is not exposed to significant risks on such accounts.

Additionally, we manage the exposure to credit risk in our investment portfolio by investing in high quality securities and diversifying our holdings. Our investment portfolio is comprised of corporate debt, foreign government securities, certificates of deposit, single-family residential mortgage loans, and U.S. Treasuries.

Advertising costs

Advertising costs, which include promotional expenses, are expensed as incurred. Advertising expenses were $3.2 million, $6.2 million, and $3.1 million for the years ended December 31, 2022, 2021, and 2020, respectively, and are included in other operating expenses in the accompanying consolidated statements of operations.

Earnings per share

The Company uses the two-class method to calculate basic net loss per share and apply the more dilutive of the two-class method, treasury stock method or if-converted method to calculate diluted net loss per share. Undistributed earnings for each period are allocated to participating securities, including preferred shares for applicable periods, based on the contractual participation rights of the security to share in the current earnings as if all current period earnings had been distributed. Losses are not allocated to participating securities as they do not have a contractual obligation to share in losses.

The more dilutive of the two-class method and the if-converted method is used to calculate the dilutive impact of the preferred shares. The treasury stock method is utilized to calculate the dilutive impact of the outstanding warrants, RSAs, RSUs, PRSUs and options and the if-converted method is utilized for the Company’s convertible notes.

For the years ended December 31, 2022, 2021 and 2020, any preferred shares, stock options, warrants, RSAs, RSUs and PRSUs were anti-dilutive, therefore, were excluded from the computation of diluted earnings per share.

Basic and diluted earnings per share attributable to the Company’s common stock for the years ended December 31, 2022, 2021 and 2020 was calculated using weighted average common shares outstanding.

Risk and uncertainties

The real estate market has been impacted by significant macroeconomic factors, market disruptions, and volatility. The Company continues to monitor and react to these factors. For additional information, refer to Part I, Item 1A “Risk Factors” set forth this Annual Report.

Emerging Growth Company and Smaller Reporting Company

Subsequent to the Business Combination described in Note 3, the Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Additionally, subsequent to the Business Combination described in Note 3, the Company is a “smaller reporting company” as defined in Item 10(f)(1) of Regulation S-K. Smaller reporting companies may take advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited financial statements.

Recently issued and adopted accounting pronouncements

In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350), simplifying Accounting for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 removes the requirement to perform a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The Company early adopted this update as of January 1, 2020 with no material impact on the Company’s financial position and results of operations. The Company has applied this guidance in determining the goodwill impairment discussed within Note 3.

In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 326). The amendments in this and the related ASUs introduce broad changes to accounting for credit impairment of financial instruments. The primary updates include the introduction of a new current expected credit loss (“CECL”) model that is based on expected rather than incurred losses for instruments measured at amortized cost and amends the accounting for impairment of held-to-maturity securities and available-for-sale securities. This model incorporates past experience, current conditions and reasonable and supportable forecasts affecting collectability of these instruments. The amendments in this update are effective for public entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. For all other entities, the amendment is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The early adoption of this new guidance on January 1, 2022 required the Company to record an allowance for credit losses for the Company’s held-to-maturity investment portfolio, which resulted in an allowance of $0.4 million and a corresponding $0.4 million adjustment for the cumulative effect of a change in accounting principle, net of income taxes. For more information on the held-to-maturity allowance for credit losses, refer to Note 4. Prior to the adoption of the new guidance, the Company utilized an aging model to estimate credit losses on accounts receivable. As this aging model is allowed under the new guidance, there is no impact to the Company’s allowance for credit losses for accounts receivable. The adoption of this new standard did not have a significant impact on the consolidated statements of operations or the consolidated statements of cash flows. The guidance also requires additional disclosures regarding the Company’s held-to-maturity allowance for credit losses, which have been included within Note 4.

In February 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”), which provides guidance for accounting for leases. ASU 2016-02 requires lessees to classify leases as either finance or operating leases and to record a right-of-use asset and a lease liability for all leases with a term greater than 12 months regardless of the lease classification. The lease classification will determine whether the lease expense is recognized based on an effective interest rate method or on a straight-line basis over the term of the lease. Modified or new leases subsequent to the effective date will follow ASC 2016-02. Accounting for lessors remains largely unchanged from current U.S. GAAP. Under ASU 2020-05, the effective date for adoption of ASU 2016-02 is fiscal years beginning

after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. We early adopted this new guidance on January 1, 2022 under a modified retrospective transition approach using the cumulative-effect adjustment transition method approved by the FASB, which results in reporting for the comparative periods presented in accordance with the previous lease guidance under ASC 840. We elected the package of practical expedients but did not adopt the hindsight practical expedient as of January 1, 2022. The package of practical expedients allowed the Company not to reassess whether the arrangement contains a lease, lease classification and whether previously capitalized costs qualify as initial direct costs. The practical expedients allowed the Company to continue classifying all of its leases as operating leases as they were previously classified under ASC 840. The Company recognized lease liabilities of $24.4 million and corresponding right-of-use assets of $23.8 million in our consolidated balance sheet on January 1, 2022. The difference between the lease liabilities and corresponding right-of-use assets related to prepaid rent and deferred lease obligations recognized in prepaid expenses, deposits and other assets and accrued expenses and other liabilities, respectively, in our consolidated balance sheet on January 1, 2022, resulting in no cumulative-effect adjustment to opening equity. The new standard did not have a significant impact on the consolidated statements of operations or the consolidated statements of cash flows. The guidance also requires additional disclosures regarding the Company’s lease portfolio, which have been included within Note 21.

In January 2020, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740). ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. Specifically, ASU 2019-12 eliminates certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. ASU 2019-12 is effective for annual periods beginning after December 15, 2020, and interim periods beginning after December 15, 2020. ASU 2019-12 is effective for private entities for annual periods beginning after December 15, 2021, and interim periods beginning after December 15, 2022, with early adoption permitted. The Company adopted ASU 2019-12 under the private company transition guidance beginning January 1, 2022, and the adoption of this standard did not have a material impact on the Company’s consolidated financial statements or disclosures given the Company has a full valuation allowance and the scenarios for which the guidance offer simplification are not significant for the Company.

Recently issued but not adopted accounting pronouncements

In August 2018, the FASB issued ASU 2018-12, Financial Services-Insurance (Topic 944), Targeted Improvements to the Accounting for Long-Duration Contracts, effective for fiscal years beginning after December 15, 2022 including interim periods within those fiscal years. In June of 2020, the FASB deferred the effective date of ASU 2018-12 for one-year in response to implementation challenges resulting from COVID-19. This update requires insurance companies to annually review and update the assumptions used for measuring the liability under long-duration contracts. The amendments in this ASU may be early adopted as of the beginning of an annual reporting period for which financial statements have not yet been issued, including interim financial statements. We do not currently expect to early adopt this standard. Although we have long-duration contracts, this specific guidance is not expected to impact our title insurance operations; therefore, we do not expect this standard to have a material impact on our consolidated financial statements.

Investments and fair value measurements - Summary of Realized Gains (Losses) on Available-for-Sale Debt Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Available-for-sale debt securities:
Gains	$ 0	$ 768	$ 0
Losses	0	(90)	0
Net	0	678	0
Proceeds from sales	$ 0	$ 7,817	$ 0

Stock compensation expense - Summary of Weighted-Average Assumptions (Details) - Stock Option	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility (as a percent)	48.50%	38.00%
Expected dividend yield	0.00%	0.00%
Expected term (years)	6 years 2 months 12 days	6 years 1 month 6 days
Risk-free interest rate	0.70%	0.80%

Fixed assets - Internally developed software and acquired software (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Internally developed software
Property, Plant and Equipment [Line Items]
Software additions	$ 30,609	$ 23,846
Accumulated amortization	(11,472)	(5,528)
Software additions, net	19,137	18,318
Acquired software
Property, Plant and Equipment [Line Items]
Software additions	1,111	2
Accumulated amortization	(381)	(63)
Software additions, net	$ 730	$ (61)

Investments and fair value measurements

12 Months Ended

Dec. 31, 2022

Investments, All Other Investments [Abstract]

Investments and fair value measurements

Held-to-maturity debt securities

The cost basis, fair values and gross unrealized gains and losses of our held-to-maturity debt securities are as follows:


	December 31, 2022								December 31, 2021
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value		Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Corporate debt securities (1)	$	61,308	$	5	$	(1,640)	$	59,673	$	62,078	$	459	$	(207)	$	62,330
U.S. Treasury securities	24,152		—		(165)		23,987		4,849		—		(16)		4,833
Foreign government securities	5,003		—		(4)		4,999		—		—		—		—
Certificates of deposit	305		—		—		305		237		—		—		237
Total	$	90,768	$	5	$	(1,809)	$	88,964	$	67,164	$	459	$	(223)	$	67,400

_______________

(1) Includes both U.S. and foreign corporate debt securities.

The cost basis of held-to-maturity debt securities includes an adjustment for the amortization of premium or discount since the date of purchase. Held-to-maturity debt securities valued at approximately $5.9 million and $4.2 million were on deposit with various governmental authorities at December 31, 2022 and 2021, respectively, as required by law.

The change in net unrealized gains and on held-to-maturity debt securities for the years ended December 31, 2022, 2021 and 2020 was $(2.0) million, $(0.8) million and $0.9 million, respectively.

Net realized gains of held-to-maturity debt securities are computed using the specific identification method and are included in the consolidated statements of operations. During the year ended December 31, 2022, to de-risk the portfolio, the Company sold held-to-maturity debt securities resulting in proceeds and net realized losses of $1.0 million and $6.0 thousand, respectively.

The following table presents certain information regarding contractual maturities of our held-to-maturity debt securities:


Maturity	December 31, 2022
	Amortized Cost		% of Total		Fair Value		% of Total
One year or less	$	67,971	75	%	$	67,744	76	%
After one year through five years	22,797		25	%	21,220		24	%
Total	$	90,768	100	%	$	88,964	100	%

There were no held-to-maturity debt securities with contractual maturities after five years. Expected maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties.

Net unrealized losses on held-to-maturity debt securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows:


	December 31, 2022								December 31, 2021
	Corporate debt securities		U.S. Treasury securities		Foreign government securities		Total		Corporate debt securities		U.S. Treasury securities		Total
Less than 12 Months
Fair Value	$	48,798	$	19,834	$	4,999	$	73,631	$	18,309	$	4,667	$	22,976
Unrealized Losses	$	(614)	$	(101)	$	(4)	$	(719)	$	(192)	$	(16)	$	(208)
Greater than 12 months
Fair value	8,546		4,125		—		12,671		605		—		605
Unrealized losses	(1,026)		(64)		—		(1,090)		(15)		—		(15)
Total
Fair value	$	57,344	$	23,959	$	4,999	$	86,302	$	18,914	$	4,667	$	23,581
Unrealized losses	$	(1,640)	$	(165)	$	(4)	$	(1,809)	$	(207)	$	(16)	$	(223)

We believe that any unrealized losses on our held-to-maturity debt securities at December 31, 2022 are temporary based upon our current analysis of the issuers of the securities that we hold and current market conditions. We have no intent to sell, and it is more likely than not that we will not be required to sell, these securities until the fair value recovers to at least equal our cost basis or the securities mature.


Rollforward of Credit Loss Allowance for Held-to-Maturity Debt Securities
Beginning balance, January 1, 2022	$	399
Current-period provision for expected credit losses	41
Write-off charged against the allowance, if any	—
Recoveries of amounts previously written off, if any	—
Ending balance of the allowance for credit losses, December 31, 2022	$	440

The current-period provision for expected credit losses is due to changes in portfolio composition, the maturity of certain securities, and changes in the credit ratings of certain securities.

Available-for-sale debt securities

The cost basis, fair values and gross unrealized gains and losses of our available-for-sale debt securities are as follows:


	December 31, 2022								December 31, 2021
	Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value		Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
Corporate debt securities (1)	$	27,251	$	—	$	(363)	$	26,888	$	—	$	—	$	—	$	—
U.S. Treasury securities	30,467		—		(544)		29,923		—		—		—		—
Foreign government securities	1,473		—		(30)		1,443		—		—		—		—
Total	$	59,191	$	—	$	(937)	$	58,254	$	—	$	—	$	—	$	—

_________________

(1) Includes both U.S. and foreign corporate debt securities.

The cost basis of available-for-sale debt securities includes an adjustment for the amortization of premium or discount since the date of purchase.

The change in net unrealized gains on available-for-sale debt securities for the years ended December 31, 2022, 2021 and 2020 was $(0.9) million, $(0.9) million, and $0.2 million, respectively. Any unrealized holding gains or losses on available-for-sale debt securities as of December 31, 2022 are reported as accumulated other comprehensive gain or loss, which is a separate component of stockholders’ equity, net of tax, until realized.

The following table reflects the composition of net realized gains or losses for the sales of the available-for-sale debt securities for each of the years shown below:


	Year ended December 31,
	2022		2021		2020
Realized gains (losses):
Available-for-sale debt securities:
Gains	$	—	$	768	$	—
Losses	—		(90)		—
Net	$	—	$	678	$	—

Proceeds from sales	$	—	$	7,817	$	—

Net realized gains on disposition of available-for-sale debt securities are computed using the specific identification method and are included in the consolidated statements of operations

The following table presents certain information regarding contractual maturities of our available-for-sale debt securities:


Maturity	December 31, 2022
	Amortized Cost		% of Total		Fair Value		% of Total
One year or less	$	—	—	%	$	—	—	%
After one year through five years	59,191		100	%	58,254		100	%
Total	$	59,191	100	%	$	58,254	100	%

There were no available-for-sale debt securities with contractual maturities after five years. Expected maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties.

Net unrealized losses on available-for-sale debt securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows:


	December 31, 2022								December 31, 2021
	Corporate debt securities		U.S. Treasury securities		Foreign government securities		Total		Corporate debt securities		U.S. Treasury securities		Total
Less than 12 months
Fair value	$	26,886	$	29,923	$	1,444	$	58,253	$	—	$	—	$	—
Unrealized losses	$	(363)	$	(544)	$	(30)	$	(937)	$	—	$	—	$	—
Greater than 12 months
Fair value	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Unrealized losses	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total
Fair value	$	26,886	$	29,923	$	1,444	$	58,253	$	—	$	—	$	—
Unrealized losses	$	(363)	$	(544)	$	(30)	$	(937)	$	—	$	—	$	—

We believe that any unrealized losses on our available-for-sale debt securities at December 31, 2022 are temporary based upon our current analysis of the issuers of the securities that we hold and current market conditions.

We have no intent to sell, and it is more likely than not that we will not be required to sell, these securities until the fair value recovers to at least equal our cost basis or the securities mature.

As of December 31, 2022, the Company did not have an allowance for credit losses for available-for-sale debt securities.

Equity securities

The Company disposed of all equity securities as of December 31, 2021.

Mortgage loans

The mortgage loans portfolio as of December 31, 2022 is comprised entirely of single-family residential mortgage loans. During the year ended December 31, 2022, the Company did not purchase any new mortgage loans.

Mortgage loans, which include contractual terms to maturity of thirty years, are not categorized by contractual maturity as borrowers may have the right to call or prepay obligations with, or without, call or prepayment penalties. The change in the mortgage loans during the year ended December 31, 2022 was the result of principal prepayments and maturities.

The cost and estimated fair value of mortgage loans are as follows:


	December 31, 2022				December 31, 2021
	Cost		Estimated Fair Value		Cost		Estimated Fair Value
Mortgage loans	$	297	$	297	$	2,022	$	2,022
Total	$	297	$	297	$	2,022	$	2,022

Investment income

Investment income from securities consists of the following:


	Year ended December 31,
	2022		2021		2020
Available-for-sale debt securities	$	932	$	773	$	408
Held-to-maturity debt securities	1,828		1,984		1,326
Equity investments	—		(89)		146
Mortgage loans	58		168		194
Other	409		292		159
Total	$	3,227	$	3,128	$	2,233

Accrued interest receivable

Accrued interest receivable from investments is included in receivables, net in the consolidated balance sheets. The following table reflects the composition of accrued interest receivable for investments:


	Year ended December 31,
	2022		2021
Corporate debt securities	$	834	$	874
U.S. Treasury securities	281		12
Foreign government securities	42		—
Accrued interest receivable on investment securities	$	1,157	$	886
Mortgage loans	—		13
Accrued interest receivable on investments	$	1,157	$	899

The Company does not recognize an allowance for credit losses for accrued interest receivable, which is recorded in the receivables line in the consolidated balance sheets, because the Company writes off accrued investment income timely. The Company writes off accrued interest receivables after three months by reversing interest income.

Fair value measurement

The following table summarizes the Company’s investments measured at fair value:


	Assets
	December 31, 2022								December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Held-to-maturity:
Corporate debt securities	$	—	$	59,673	$	—	$	59,673	$	—	$	62,330	$	—	$	62,330
U.S. Treasury Securities	23,987		—		—		23,987		4,833		—		—		4,833
Foreign government securities	—		4,999		—		4,999		—		—		—		—
Certificate of deposits	—		305		—		305		—		237		—		237
Total held-to-maturity debt securities	$	23,987	$	64,977	$	—	$	88,964	$	4,833	$	62,567	$	—	$	67,400

Available-for-sale:
Corporate debt securities	$	—	$	26,888	$	—	$	26,888	$	—	$	—	$	—	$	—
U.S. Treasury Securities	29,923		—		—		29,923		—		—		—		—
Foreign government securities	—		1,443		—		1,443		—		—		—		—
Total available-for-sale debt securities	$	29,923	$	28,331	$	—	$	58,254	$	—	$	—	$	—	$	—

Mortgage loans	$	—	$	—	$	297	$	297	$	—	$	—	$	2,022	$	2,022

Total	$	53,910	$	93,308	$	297	$	147,515	$	4,833	$	62,567	$	2,022	$	69,422

The Company classifies U.S. Treasury bonds within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. Corporate debt securities and certificates of deposit are classified within Level 2 because they are valued using inputs other than quoted prices that are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security which may

be actively traded. The Company classifies mortgage loans as Level 3 due to the reliance on significant unobservable valuation inputs.

The Company’s liabilities in the following table are recorded at fair value on the accompanying consolidated balance sheets. The following table summarizes the Company’s liabilities measured at fair value:


	Liabilities
	Public Warrants		Private Placement Warrants		Sponsor Covered Shares		Total
December 31, 2022
Level 1	$	230	$	—	$	—	$	230
Level 2	—		117		—		117
Level 3	—		—		219		219
Total	$	230	$	117	$	219	$	566

December 31, 2021
Level 1	$	10,925	$	—	$	—	$	10,925
Level 2	—		5,542		—		5,542
Level 3	—		—		5,415		5,415
Total	$	10,925	$	5,542	$	5,415	$	21,882

The Company considers the Public Warrants to be Level 1 liabilities due to the use of an observable market quote in an active market under the ticker DOMA.WS. For the Private Placement Warrants, the Company considers the fair value of each Private Placement Warrant to be equivalent to that of each Public Warrant, with an immaterial adjustment for short-term marketability restrictions. As such, the Private Placement Warrants are classified as Level 2.

The fair value of the Sponsor Covered Shares was determined using a Monte Carlo simulation valuation model using a distribution of potential stock price outcomes on a daily basis over the original 10-year vesting period. The unobservable significant inputs to the valuation model were as follows:


	December 31, 2022			December 31, 2021
Current stock price	$	0.42		$	5.08
Expected volatility	65.0		%	55.0		%
Risk-free interest rate	3.96		%	1.52		%
Expected term (years)	8.6			9.6
Expected dividend yield	—		%	—		%
Annual change in control probability	2.0		%	2.0		%

The changes for Level 3 items measured at fair value on a recurring basis using significant unobservable inputs are as follows:


	Sponsor Covered Shares
Fair value as of January 1, 2021	$	—
Sponsor Covered Shares assumed in Business Combination	9,332
Change in fair value of Sponsor Covered Shares	(3,917)
Fair value as of December 31, 2021	$	5,415
Change in fair value of Sponsor Covered Shares	(5,196)
Fair value as of December 31, 2022	$	219

There were no transfers of assets or liabilities between Level 1 and Level 2 during the years ended December 31, 2022 and 2021. There were no transfers involving Level 3 assets or liabilities during the years ended December 31, 2022 and 2021.

Cash and cash equivalents, restricted cash, receivables, prepaid expenses and other assets, accounts payable, and accrued expenses and other liabilities approximate fair value and are therefore excluded from the leveling table above. The cost basis is determined to approximate fair value due to the short term duration of these financial instruments.

Business Combination - Goodwill (Details) - USD ($)	12 Months Ended
Business Combination - Goodwill (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Beginning balance, January 1, 2022	$ 111,487,000
Impairment losses	(65,207,000)	$ 0	$ 0
Ending balance, December 31, 2022	46,280,000	111,487,000
Distribution
Goodwill [Roll Forward]
Beginning balance, January 1, 2022	88,074,000
Impairment losses	(65,207,000)	0	0
Ending balance, December 31, 2022	22,867,000	88,074,000
Underwriting
Goodwill [Roll Forward]
Beginning balance, January 1, 2022	23,413,000
Impairment losses	0	0	$ 0
Ending balance, December 31, 2022	$ 23,413,000	$ 23,413,000

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Accrued expenses and other liabilities

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

Accrued expenses and other liabilities

Accrued expenses and other liabilities include the following:


	December 31,
	2022		2021
Employee benefits	$	7,140	$	5,059
Severance	5,749		—
Contract terminations	5,248		—
Premium taxes	3,862		7,305
Employee compensation	3,380		27,697
Other	3,513		14,088
Total accrued expenses and other liabilities	$	28,892	$	54,149

Workforce reduction plans

In 2022, the Company executed three separate workforce reduction plans (collectively, the “Reduction Plans”) to reduce costs, improve Local branch-level profitability, and focus resources on its instant underwriting capabilities. The Reduction Plans during the year included the elimination of approximately 1,076 positions across the Company, or approximately 52% of the Company’s workforce as of December 31, 2022. The Company expects the execution of the Reduction Plans, including cash payments, will be substantially complete in the first quarter of 2023.

Liabilities associated with the Reduction Plans are included in accrued expenses and other liabilities in the consolidated balance sheet as of December 31, 2022.

The following table summarizes activity related to the liabilities associated with the Reduction Plans:


	Total
Balance as of January 1, 2022	$	—
Charges incurred (1)	19,613
Payments and other adjustments	(13,864)
Balance as of December 31, 2022	$	5,749

________________

(1) Charges incurred include employee benefits, severance, payroll taxes and related facilitation costs offset by forfeitures of bonus.

For the year ended December 31, 2022, forfeited stock-based compensation associated with the Reduction Plans was $4.0 million. The charges incurred and forfeited stock-based compensation associated with the Reduction Plans primarily relate to the Company’s Distribution reportable segment.

Contract terminations

Associated with the Company’s Reduction Plans and vendor management initiatives during the year ended December 31, 2022, the Company recorded $5.2 million in accelerated contract charges related to contracts that will continue to be incurred for the contracts’ remaining terms without economic benefit to the Company. These contract termination charges were recorded in other operating expenses in the consolidated statements of operations. There were no accelerated contract charges during the years ended December 31, 2021 and 2020.

Accrued expenses and other liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities include the following:


	December 31,
	2022		2021
Employee benefits	$	7,140	$	5,059
Severance	5,749		—
Contract terminations	5,248		—
Premium taxes	3,862		7,305
Employee compensation	3,380		27,697
Other	3,513		14,088
Total accrued expenses and other liabilities	$	28,892	$	54,149

Schedule of Liabilities Associated With Reduction Plans

The following table summarizes activity related to the liabilities associated with the Reduction Plans:


	Total
Balance as of January 1, 2022	$	—
Charges incurred (1)	19,613
Payments and other adjustments	(13,864)
Balance as of December 31, 2022	$	5,749

________________

(1) Charges incurred include employee benefits, severance, payroll taxes and related facilitation costs offset by forfeitures of bonus.

Stock compensation expense

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stock compensation expense

The Company issued stock options (incentive stock options (“ISOs”), non-statutory stock options (“NSOs”)) and RSAs to employees and key advisors under the Company’s 2019 Equity Incentive Plan, which has been approved by the board of directors. Granted stock options do not expire for 10 years and have vesting periods ranging from 7 to 60 months. The holder of one stock option may purchase one share of common stock at the underlying strike price. No additional awards will be granted under the Company’s 2019 Equity Incentive Plan and, as a result, no shares remain available for issuance for new awards under the Company’s 2019 Equity Incentive.

On July 27, 2021, the Company’s stockholders approved the 2021 Omnibus Incentive Plan, under which the Company issues restricted stock units (“RSUs”) and performance restricted stock units (“PRSUs”). The RSUs are subject to time-based vesting, generally with a majority of the RSUs vesting 25% on the first anniversary of the award date and ratably thereafter for twelve quarters, such that the RSUs will be fully vested on the fourth anniversary of their award date. Eligible participants in the PRSUs will receive a number of earned shares based on Company financial results during the performance period, as established by the Company’s board of directors. Earned shares for the PRSUs will fully vest once the continuous employment service condition is met after the performance period. The RSUs and PRSUs are measured at fair market value on the grant date and stock-based compensation expense is recognized as the shares vest with a corresponding offset credited to additional paid-in-capital. As of December 31, 2022, a maximum of approximately 59.5 million securities were authorized for issuance under the Company’s 2021 Omnibus Incentive Plan.

In June 2022, the Company issued stock awards to its Chief Executive Officer under the 2021 Omnibus Incentive Plan that vest upon the satisfaction of a time-based service condition and a market condition (“market-based awards”). Both the service and the market condition must be satisfied for the award to vest. The market condition of the awards is based on the 90-day volume weighted average price of the common stock of the Company reaching a price hurdle of $5.00, $7.50, and $10.00 during a performance period of 4 years. The maximum number of shares that can be earned under the market-based awards is 2,435,325 shares, with one-third of the total award allocated to each identified average price threshold. The time-based service condition in the market-based awards is

satisfied quarterly over sixteen quarters of continuous employment, such that the service condition included in the market-based awards will be fully satisfied on the fourth anniversary of their award date. The Company recognizes compensation expense related to the market-based awards using the accelerated attribution method over the requisite service period.

Stock-based compensation expense for the years ended December 31, 2022, 2021 and 2020 was $33.7 million, $20.1 million and $2.5 million, respectively.

Stock options (ISO and NSO)

Following are the weighted average assumptions utilized in the valuation of stock options issued:


	Year ended December 31,
	2021		2020
Volatility	48.5	%	38.0	%
Dividend yield	0.0	%	0.0	%
Expected term (years)	6.2		6.1
Risk free rate	0.7	%	0.8	%

The Company did not issue stock options during the year ended December 31, 2022.

The Company had the following stock option activity:


	Number of Stock Options	Weighted Average Exercise Price ($)		Weighted Average Remaining Contractual Life (In years)	Aggregate Intrinsic Value ($)
Outstanding as of December 31, 2021	24,255,204	0.51		7.91	$	109,061
Granted	—	—		0.00
Exercised	(2,094,653)	0.52		3.32
Cancelled or forfeited	(4,570,023)	0.63		1.67
Outstanding as of December 31, 2022	17,590,528	$	0.58	6.74	$	191

Options exercisable as of December 31, 2022	13,670,902	$	0.55	6.50	$	190

The total intrinsic value of options exercised for the years ended December 31, 2022, 2021 and 2020 was $3.5 million, $35.2 million, and $2.0 million, respectively.

The total fair value of options vested during the years ended December 31, 2022, 2021 and 2020 were $12.6 million, $7.4 million and $1.5 million, respectively.

The weighted-average grant date fair value of stock options granted during the years ended December 31, 2021 and 2020 were $5.99 and $8.42, respectively.

As of December 31, 2022, there was $9.7 million of stock-based compensation expense that had yet to be recognized related to nonvested stock option grants. The weighted-average period over which this unrecognized stock-based compensation expense is expected to be recognized is 1.86 years.

RSAs, RSUs and PRSUs

The Company had the following activity for nonvested RSA, RSU and PRSU activity:


	Number of RSAs, RSUs and PRSUs	Average Grant Date Fair Value ($)
Nonvested at December 31, 2021	18,579,930	$	6.11
Granted	51,458,080	1.51
Exercised	(4,200,188)	5.25
Adjustment for PRSUs expected to vest	(1,759,053)	5.14
Cancelled or Forfeited	(23,587,020)	3.58
Nonvested at December 31, 2022	40,491,749	$	1.87

The total fair value of RSAs, RSUs and PRSUs which vested in the years ended December 31, 2022, 2021 and 2020 was $3.8 million, $5.2 million and $0.4 million, respectively.

As of December 31, 2022, there was $66.1 million of stock-based compensation expense that had yet to be recognized related to nonvested RSAs, RSUs and PRSUs. The weighted-average period over which this unrecognized stock-based compensation expense is expected to be recognized is 3.01 years.

Market-based awards

The market-based awards were measured at fair market value on the grant date, and stock-based compensation expense is recognized as the shares vest with a corresponding offset credited to additional paid-in-capital. The fair value of the market-based awards was determined using a Monte Carlo simulation valuation model using a distribution of potential stock price outcomes on a daily basis over the original 4-year vesting period. The unobservable significant inputs to the valuation model at the time of award issuance were as follows:


Stock price at issuance	$	0.92
Expected volatility	75.0		%
Risk-free interest rate	3.14		%
Current expected term (years)	3.9
Expected dividend yield	—		%

During the year ended December 31, 2022, the Company had the following non-vested market-based award activity:


	Number of Market-based awards	Average Grant Date Fair Value ($)
Non-vested at December 31, 2021	—	$	—
Granted	2,435,325	0.32
Vested	—	—
Cancelled or Forfeited	—	—
Non-vested at December 31, 2022	2,435,325	$	0.32

As of December 31, 2022, there was $0.6 million of stock-based compensation expense that had yet to be recognized related to nonvested market-based awards. The weighted-average period over which this unrecognized stock-based compensation expense is expected to be recognized is 3.42 years.

Consolidated Statements of Operations (Parenthetical) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Net premiums earned

^[1]

$ 385,253

$ 475,352

$ 345,608

Premiums retained by agents

^[2]

261,476

298,445

220,143

Lennar | Affiliated Entity

Net premiums earned

134,869

114,212

88,609

Premiums retained by agents

$ 108,419

$ 92,466

$ 71,229

[1]	Net premiums written includes revenues from a related party of $134.9 million, $114.2 million, and $88.6 million for the years ended December 31, 2022, 2021, and 2020, respectively (see Note 14 to our consolidated financial statements).
[2]	Premiums retained by Third-Party Agents includes expenses associated with a related party of $108.4 million, $92.5 million, and $71.2 million during the years ended December 31, 2022, 2021, and 2020, respectively (see Note 14 to our consolidated financial statements).

Liability for loss and loss adjustment expenses - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Insurance [Abstract]
Prior year reserve release	$ 5,574	$ 7,525	$ 5,282
Liability for loss and loss adjustment expenses	82,070	80,267	$ 69,800	$ 62,758
Reserves for settlement related to escrow or agent activities	$ 200	$ 100

Liability for loss and loss adjustment expenses - Summary of Liability for Loss and Loss Adjustment Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balance at the beginning of the year	$ 80,267	$ 69,800	$ 62,758
Provision for claims related to:
Current year	22,314	28,860	20,619
Prior years	(5,574)	(7,525)	(5,282)
Total provision for claims	16,740	21,335	15,337
Paid losses related to:
Current year	(3,632)	(3,180)	(2,331)
Prior years	(11,305)	(7,688)	(5,964)
Total paid losses	(14,937)	(10,868)	(8,295)
Balance at the end of the period	$ 82,070	$ 80,267	$ 69,800
Premiums Written, Net \| Provision for Incurred Claims Concentration Risk \| Liability for Unpaid Claims and Claims Adjustment Expense, Net
Paid losses related to:
Concentration risk percent	4.30%	4.50%	4.40%

Warrant liabilities (Details) $ / shares in Units, $ in Thousands	Jul. 28, 2021 $ / shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Dec. 04, 2021	Sep. 03, 2021 shares	Dec. 04, 2020 $ / shares shares
Class of Warrant or Right [Line Items]
Number of shares for warrants (in shares) \| shares					17,333,333
Warrant, term				1 year
Warrant liabilities \| $		$ 347	$ 16,467
Public Warrants
Class of Warrant or Right [Line Items]
Number of shares for warrants (in shares) \| shares		11,500,000	11,500,000			11,500,000
Number of shares called by each warrant (in shares) \| shares						1
Exercise price of warrants (in usd per share)						$ 11.50
Redemption period	30 days
Fair market value price period	10 days
Fair market value, maximum conversion ratio	0.361
Warrant liabilities \| $		$ 200	$ 10,900
Private Placement Warrants
Class of Warrant or Right [Line Items]
Number of shares for warrants (in shares) \| shares		5,833,333	5,833,333			5,833,333
Number of shares called by each warrant (in shares) \| shares						1
Exercise price of warrants (in usd per share)						$ 11.50
Warrant liabilities \| $		$ 100	$ 5,500
Common stock equals or exceeds $18 \| Public Warrants
Class of Warrant or Right [Line Items]
Stock price redemption threshold (in usd per share)	$ 18.00
Redemption price (in usd per share)	$ 0.01
Notice required for redemption of warrants	30 days
Trading days threshold for warrant redemption	20 days
Consecutive trading days threshold for redemption	30 days
Common stock equals or exceeds $10 \| Public Warrants
Class of Warrant or Right [Line Items]
Stock price redemption threshold (in usd per share)	$ 10.00
Redemption price (in usd per share)	$ 0.10
Notice required for redemption of warrants	30 days
Common stock equals or exceeds $10 \| Minimum \| Public Warrants
Class of Warrant or Right [Line Items]
Stock price redemption threshold (in usd per share)	$ 10.00
Common stock equals or exceeds $10 \| Maximum \| Public Warrants
Class of Warrant or Right [Line Items]
Stock price redemption threshold (in usd per share)	$ 18.00

Related party transactions

12 Months Ended

Dec. 31, 2022

Related party transactions

Equity held by Lennar

In connection with the North American Title Acquisition, subsidiaries of Lennar were granted equity in the Company. As of December 31, 2022, Lennar, through its subsidiaries, held 25.0% of the Company on a fully diluted basis.

Shared services agreements between the Company and Lennar

In connection with the North American Title Acquisition, the Company and Lennar entered into a transition services agreement (“TSA”) that provided for certain shared services provided by Lennar to the Company as it incorporated the Acquired Business into its operations, and also for the sharing of expenses in office locations that would contain both Company and Lennar personnel until such time one entity or the other, depending on the location, established separate office space for its personnel and operations.

During the year ended December 31, 2020, the Company paid Lennar $0.3 million related to TSA services. Additionally, during the years ended December 31, 2022, 2021 and 2020, the Company paid Lennar $0.0 million $0.1 million, and $0.2 million, respectively, for rent associated with shared spaces.

Transactions with Lennar

In the routine course of its business, Doma Title Insurance, Inc. (“DTI”) underwrites title insurance policies for a subsidiary of Lennar. The Company recorded the following revenues and premiums retained by Third-Party Agents from these transactions, which are included within our Underwriting segment:


	Year ended December 31,
	2022		2021		2020
Revenues	$	134,869	$	114,212	$	88,609
Premiums retained by Third-Party Agents	108,419		92,466		71,229


	As of December 31,
	2022		2021
Net receivables	$	4,175	$	3,883

These amounts are included in receivables, net, in the consolidated balance sheets.

Consulting agreement

In 2021, the Company entered into a consulting services agreement with a company that provides IT consulting services for which our Chief Executive Officer is a member of its board of directors. During the year ended December 31, 2021, the Company incurred costs related to this agreement totaling $0.3 million. No costs were incurred during the years ended December 31, 2022 or 2020. There was no outstanding accounts payable related to this agreement at December 31, 2022.

Accumulated other comprehensive income (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Summary of Changes in Components of Accumulated Other Comprehensive Income

Following is a summary of the changes in each component of accumulated other comprehensive income:


	Year ended December 31,
	2022		2021		2020
Beginning balance at January 1	$	—	$	686	$	510
Unrealized gain (loss) on available-for-sale debt securities, before tax	(937)		(240)		236
Income tax effect	—		61		(60)
Other comprehensive income, net of tax, before reclassification adjustment	$	(937)	$	507	$	686
Reclassification adjustment for realized gain on sale of available-for-sale debt securities, before tax	—		(678)		—
Income tax effect	—		171		—
Total accumulated other comprehensive income, net of tax	$	(937)	$	—	$	686

Investments and fair value measurements - Schedule of Investment Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net Investment Income [Line Items]
Interest and investment income	$ 3,227	$ 3,128	$ 2,233
Available-for-sale debt securities
Net Investment Income [Line Items]
Interest and investment income	932	773	408
Held-to-maturity debt securities
Net Investment Income [Line Items]
Interest and investment income	1,828	1,984	1,326
Equity investments
Net Investment Income [Line Items]
Interest and investment income	0	(89)	146
Mortgage loans
Net Investment Income [Line Items]
Interest and investment income	58	168	194
Other
Net Investment Income [Line Items]
Interest and investment income	$ 409	$ 292	$ 159

Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts


(In Thousands)	Balance at beginning of period		Charged to costs and expenses		Deductions		Balance at end of period
Year ended December 31, 2022:
Allowance for deferred tax assets	$	55,620	$	74,084	$	—	$	129,704
Liability for loss and loss adjustment expenses	80,267		16,740		14,937		82,070
Allowance for doubtful accounts	1,082		922		516		1,488
Year ended December 31, 2021:
Allowance for deferred tax assets	$	23,330	$	32,290	$	—	$	55,620
Liability for loss and loss adjustment expenses	69,800		21,335		10,868		80,267
Allowance for doubtful accounts	492		1,230		640		1,082
Year ended December 31, 2020:
Allowance for deferred tax assets	$	11,623	$	11,707	$	—	$	23,330
Liability for loss and loss adjustment expenses	62,758		15,337		8,295		69,800
Allowance for doubtful accounts	210		424		142		492

Leases - Lease Cost (Details) $ in Thousands	12 Months Ended
Leases - Lease Cost (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Components of lease expense:
Operating lease expense	$ 12,119
Less sublease income	(304)
Net lease expense	11,815
Cash flow information related to leases:
Operating cash outflow from operating leases during the year ended December 31, 2022	11,186
Right-of-use assets obtained during the year ended December 31, 2022 in exchange for new operating lease liabilities	$ 10,371
Weighted average remaining lease term	4 years 18 days
Weighted average discount rate	10.00%

Investments and fair value measurements (Tables)

12 Months Ended

Dec. 31, 2022

Investments, All Other Investments [Abstract]

Summary of Held-to-Maturity Debt Securities

The cost basis, fair values and gross unrealized gains and losses of our held-to-maturity debt securities are as follows:


	December 31, 2022								December 31, 2021
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value		Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Corporate debt securities (1)	$	61,308	$	5	$	(1,640)	$	59,673	$	62,078	$	459	$	(207)	$	62,330
U.S. Treasury securities	24,152		—		(165)		23,987		4,849		—		(16)		4,833
Foreign government securities	5,003		—		(4)		4,999		—		—		—		—
Certificates of deposit	305		—		—		305		237		—		—		237
Total	$	90,768	$	5	$	(1,809)	$	88,964	$	67,164	$	459	$	(223)	$	67,400

_______________

(1) Includes both U.S. and foreign corporate debt securities.


	December 31, 2022								December 31, 2021
	Corporate debt securities		U.S. Treasury securities		Foreign government securities		Total		Corporate debt securities		U.S. Treasury securities		Total
Less than 12 Months
Fair Value	$	48,798	$	19,834	$	4,999	$	73,631	$	18,309	$	4,667	$	22,976
Unrealized Losses	$	(614)	$	(101)	$	(4)	$	(719)	$	(192)	$	(16)	$	(208)
Greater than 12 months
Fair value	8,546		4,125		—		12,671		605		—		605
Unrealized losses	(1,026)		(64)		—		(1,090)		(15)		—		(15)
Total
Fair value	$	57,344	$	23,959	$	4,999	$	86,302	$	18,914	$	4,667	$	23,581
Unrealized losses	$	(1,640)	$	(165)	$	(4)	$	(1,809)	$	(207)	$	(16)	$	(223)

Summary of Investments by Maturity Date

The following table presents certain information regarding contractual maturities of our held-to-maturity debt securities:


Maturity	December 31, 2022
	Amortized Cost		% of Total		Fair Value		% of Total
One year or less	$	67,971	75	%	$	67,744	76	%
After one year through five years	22,797		25	%	21,220		24	%
Total	$	90,768	100	%	$	88,964	100	%

The following table presents certain information regarding contractual maturities of our available-for-sale debt securities:


Maturity	December 31, 2022
	Amortized Cost		% of Total		Fair Value		% of Total
One year or less	$	—	—	%	$	—	—	%
After one year through five years	59,191		100	%	58,254		100	%
Total	$	59,191	100	%	$	58,254	100	%

Debt Securities, Held-to-Maturity, Allowance for Credit Loss


Rollforward of Credit Loss Allowance for Held-to-Maturity Debt Securities
Beginning balance, January 1, 2022	$	399
Current-period provision for expected credit losses	41
Write-off charged against the allowance, if any	—
Recoveries of amounts previously written off, if any	—
Ending balance of the allowance for credit losses, December 31, 2022	$	440

Summary of Available-for-Sale Debt Securities

The cost basis, fair values and gross unrealized gains and losses of our available-for-sale debt securities are as follows:


	December 31, 2022								December 31, 2021
	Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value		Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
Corporate debt securities (1)	$	27,251	$	—	$	(363)	$	26,888	$	—	$	—	$	—	$	—
U.S. Treasury securities	30,467		—		(544)		29,923		—		—		—		—
Foreign government securities	1,473		—		(30)		1,443		—		—		—		—
Total	$	59,191	$	—	$	(937)	$	58,254	$	—	$	—	$	—	$	—

_________________

(1) Includes both U.S. and foreign corporate debt securities.


	December 31, 2022								December 31, 2021
	Corporate debt securities		U.S. Treasury securities		Foreign government securities		Total		Corporate debt securities		U.S. Treasury securities		Total
Less than 12 months
Fair value	$	26,886	$	29,923	$	1,444	$	58,253	$	—	$	—	$	—
Unrealized losses	$	(363)	$	(544)	$	(30)	$	(937)	$	—	$	—	$	—
Greater than 12 months
Fair value	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Unrealized losses	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total
Fair value	$	26,886	$	29,923	$	1,444	$	58,253	$	—	$	—	$	—
Unrealized losses	$	(363)	$	(544)	$	(30)	$	(937)	$	—	$	—	$	—

Schedule of Realized Gain (Loss) on Available-for-Sale Debt Securities

The following table reflects the composition of net realized gains or losses for the sales of the available-for-sale debt securities for each of the years shown below:


	Year ended December 31,
	2022		2021		2020
Realized gains (losses):
Available-for-sale debt securities:
Gains	$	—	$	768	$	—
Losses	—		(90)		—
Net	$	—	$	678	$	—

Proceeds from sales	$	—	$	7,817	$	—

Schedule of Cost and Estimated Fair Value of Mortgage Loans and Accrued Interest Receivable

The cost and estimated fair value of mortgage loans are as follows:


	December 31, 2022				December 31, 2021
	Cost		Estimated Fair Value		Cost		Estimated Fair Value
Mortgage loans	$	297	$	297	$	2,022	$	2,022
Total	$	297	$	297	$	2,022	$	2,022

The following table reflects the composition of accrued interest receivable for investments:


	Year ended December 31,
	2022		2021
Corporate debt securities	$	834	$	874
U.S. Treasury securities	281		12
Foreign government securities	42		—
Accrued interest receivable on investment securities	$	1,157	$	886
Mortgage loans	—		13
Accrued interest receivable on investments	$	1,157	$	899

Schedule of Investment Income

Investment income from securities consists of the following:


	Year ended December 31,
	2022		2021		2020
Available-for-sale debt securities	$	932	$	773	$	408
Held-to-maturity debt securities	1,828		1,984		1,326
Equity investments	—		(89)		146
Mortgage loans	58		168		194
Other	409		292		159
Total	$	3,227	$	3,128	$	2,233

Schedule of Fair Value Assets on a Recurring Basis

The following table summarizes the Company’s investments measured at fair value:


	Assets
	December 31, 2022								December 31, 2021
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Held-to-maturity:
Corporate debt securities	$	—	$	59,673	$	—	$	59,673	$	—	$	62,330	$	—	$	62,330
U.S. Treasury Securities	23,987		—		—		23,987		4,833		—		—		4,833
Foreign government securities	—		4,999		—		4,999		—		—		—		—
Certificate of deposits	—		305		—		305		—		237		—		237
Total held-to-maturity debt securities	$	23,987	$	64,977	$	—	$	88,964	$	4,833	$	62,567	$	—	$	67,400

Available-for-sale:
Corporate debt securities	$	—	$	26,888	$	—	$	26,888	$	—	$	—	$	—	$	—
U.S. Treasury Securities	29,923		—		—		29,923		—		—		—		—
Foreign government securities	—		1,443		—		1,443		—		—		—		—
Total available-for-sale debt securities	$	29,923	$	28,331	$	—	$	58,254	$	—	$	—	$	—	$	—

Mortgage loans	$	—	$	—	$	297	$	297	$	—	$	—	$	2,022	$	2,022

Total	$	53,910	$	93,308	$	297	$	147,515	$	4,833	$	62,567	$	2,022	$	69,422

Schedule of Fair Value Liabilities on a Recurring Basis

The following table summarizes the Company’s liabilities measured at fair value:


	Liabilities
	Public Warrants		Private Placement Warrants		Sponsor Covered Shares		Total
December 31, 2022
Level 1	$	230	$	—	$	—	$	230
Level 2	—		117		—		117
Level 3	—		—		219		219
Total	$	230	$	117	$	219	$	566

December 31, 2021
Level 1	$	10,925	$	—	$	—	$	10,925
Level 2	—		5,542		—		5,542
Level 3	—		—		5,415		5,415
Total	$	10,925	$	5,542	$	5,415	$	21,882

Summary of the Fair Values of the Sponsor Earnout Shares Using a Monte Carlo Simulation Valuation Model

The unobservable significant inputs to the valuation model were as follows:


	December 31, 2022			December 31, 2021
Current stock price	$	0.42		$	5.08
Expected volatility	65.0		%	55.0		%
Risk-free interest rate	3.96		%	1.52		%
Expected term (years)	8.6			9.6
Expected dividend yield	—		%	—		%
Annual change in control probability	2.0		%	2.0		%

Summary of Changes for Level 3 Items Measured at Fair Value

The changes for Level 3 items measured at fair value on a recurring basis using significant unobservable inputs are as follows:


	Sponsor Covered Shares
Fair value as of January 1, 2021	$	—
Sponsor Covered Shares assumed in Business Combination	9,332
Change in fair value of Sponsor Covered Shares	(3,917)
Fair value as of December 31, 2021	$	5,415
Change in fair value of Sponsor Covered Shares	(5,196)
Fair value as of December 31, 2022	$	219

Fixed assets - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Fixed assets - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Depreciation	$ 16,000	$ 7,600	$ 3,500
Long-lived asset impairment	32,027	0	0
Furniture, Leasehold Improvements and Computer Equipment
Property, Plant and Equipment [Line Items]
Long-lived asset impairment	1,300
Internally developed software
Property, Plant and Equipment [Line Items]
Depreciation	11,500	$ 5,500	$ 1,900
Long-lived asset impairment	23,200
Amortization expense, 2023	8,300
Amortization expense, 2024	8,300
Amortization expense, 2025	7,100
Amortization expense, 2026	4,600
Amortization expense, 2027	$ 1,600

Leases - Narrative (Details) - USD ($)	12 Months Ended
Leases - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Operating lease impairment	$ 7,500,000	$ 0	$ 0
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 month
Renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	6 years 9 months 18 days
Renewal term	5 years

Liability for loss and loss adjustment expenses (Tables)

12 Months Ended

Dec. 31, 2022

Insurance [Abstract]

Summary of Liability for Loss and Loss Adjustment Expenses

A summary of the changes in the liability for loss and loss adjustment expenses for each of the years ended is as follows:


	Year ended December 31,
	2022			2021			2020
Balance at the beginning of the year	$	80,267		$	69,800		$	62,758

Provision for claims related to:
Current year	$	22,314		$	28,860		$	20,619
Prior years	(5,574)			(7,525)			(5,282)
Total provision for claims	$	16,740		$	21,335		$	15,337

Paid losses related to:
Current year	$	(3,632)		$	(3,180)		$	(2,331)
Prior years	(11,305)			(7,688)			(5,964)
Total paid losses	$	(14,937)		$	(10,868)		$	(8,295)

Balance at the end of the period	$	82,070		$	80,267		$	69,800

Provision for claims as a percentage of net written premiums	4.3		%	4.5		%	4.4		%

Fixed assets

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Fixed assets

Fixed assets consist of the following:


	December 31,
	2022		2021
Internally developed software	$	40,934	$	41,189
Furniture and equipment	5,552		7,046
Acquired software	4,656		3,829
Leasehold improvements	3,653		3,542
Computer equipment	8,434		8,148
Construction in process	686		1,742
Total fixed assets, gross	$	63,915	$	65,496
Accumulated depreciation and amortization	(24,532)		(19,543)
Total fixed assets, net	$	39,383	$	45,953

Depreciation and amortization on fixed assets was $16.0 million, $7.6 million, and $3.5 million for the years ended December 31, 2022, 2021, and 2020, respectively.

The following table reflects the composition of net gains or losses for the sales of fixed assets for each of the years shown below:


	Year ended December 31,
	2022		2021		2020
Gains (losses):
Fixed assets:
Gains	$	77	$	59	$	259
Losses	(344)		(49)		(128)
Total net gains (losses)	$	(267)	$	10	$	131

For the year ended December 31, 2022, the Company recorded an impairment charge of $1.3 million related to furniture, leasehold improvements and computer equipment associated with leased offices that have been vacated and an impairment charge of $23.2 million related to internally developed software and acquired software no longer in use. The Company does not expect to receive future economic benefit from the use of these assets and therefore, reduced the carrying amount to zero for these assets. The fair values of the impacted software and other fixed assets were determined in accordance with ASC 360, Property, Plant, and Equipment, using a cash flow valuation

methodology with Level 3 inputs, primarily internal revenue forecasts. The impairment of furniture, leasehold improvements and computer equipment relate to our Distribution segment, and the impairment of internally developed software and acquired software primarily relates to our Distribution segment. The fixed asset impairments are recorded in long-lived asset impairment in the consolidated statements of operations. See Note 21 for additional information on vacated leases. There were no impairments of fixed assets during the years ended December 31, 2021 and 2020.

Within each respective period, internally developed software and acquired software consist of the following:


	Year ended December 31
	2022		2021
Internally developed software	$	30,609	$	23,846
Accumulated amortization	(11,472)		(5,528)
Internally developed software, net	$	19,137	$	18,318

Acquired software	1,111		2
Accumulated amortization	(381)		(63)
Acquired software, net	$	730	$	(61)

Amortization expense on internally developed software was $11.5 million, $5.5 million, and $1.9 million for the years ended December 31, 2022, 2021, and 2020, respectively. Amortization expense for internally developed software at December 31, 2022 is expected to be $8.3 million per year for the years ended December 31, 2023 and December 31, 2024, and $7.1 million, $4.6 million and $1.6 million for the years ended December 31, 2025, December 31, 2026 and December 31, 2027, respectively. Unamortized internally developed software development costs as of December 31, 2022 and 2021 are included in fixed assets, net in the consolidated balance sheets.

Organization and business operations	12 Months Ended
Organization and business operations	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and business operations	Organization and business operations On July 28, 2021 (the “Closing Date”), Capitol Investment Corp. V (“Capitol”) consummated a business combination (the “Business Combination”) with Doma Holdings, Inc., a Delaware corporation (“Old Doma”), pursuant to the agreement and plan of merger, dated March 2, 2021, by and among Capitol, Capitol V Merger Sub, Inc., a wholly owned subsidiary of Capitol (“Merger Sub”), and Old Doma (as amended on March 18, 2021, the “Agreement”). In connection with the closing of the Business Combination, Old Doma changed its name to States Title Holding, Inc. (“States Title”), Capitol changed its name to Doma Holdings, Inc. (“Doma”) and Old Doma became a wholly owned subsidiary of Doma. Doma continues the existing business operations of Old Doma as a publicly traded company. See Note 3 for additional information on the Business Combination. Unless the context otherwise requires, references herein to “company,” “Company,” “Doma,” “we,” “us,” “our” and similar terms refer to Doma Holdings, Inc. (f/k/a Capitol Investment Corp. V) and its consolidated subsidiaries. References to “Capitol” refer to our legal predecessor company prior to the consummation of the Business Combination. References to “Old Doma” refer to Old Doma prior to the Business Combination and to States Title, the wholly owned subsidiary of Doma, upon the consummation of the Business Combination. Headquartered in San Francisco, California, Doma is a real estate technology company that is architecting the future of real estate transactions. Using machine intelligence and our proprietary technology solutions, we are creating a vastly more simple, efficient, and affordable real estate closing experience for current and prospective homeowners, lenders, title agents and real estate professionals. We are licensed to underwrite title insurance in 45 states and the District of Columbia. Old Doma was initially formed as a wholly owned subsidiary of States Title Inc. (“Legacy States Title”) to combine the operations of Legacy States Title and the retail agency and title insurance underwriting business (the “Acquired Business”) of North American Title Group, LLC (“NATG”), a subsidiary of Lennar Corporation (“Lennar”). We completed the acquisition of the Acquired Business on January 7, 2019, which we refer hereinafter as the “North American Title Acquisition.” Old Doma survived the North American Title Acquisition as the parent company and now wholly owns the businesses operated by Legacy States Title and the Acquired Business. We conduct our operations through two reportable segments, (1) Distribution and (2) Underwriting. See further discussion in Note 7 for additional information regarding segment information.

Earnings per share - Antidilutive Securities Excluded from Computation (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)	95,990,946	78,684,152
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)	17,590,528	24,255,204
Warrants for common and preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)	18,022,750	18,022,750
RSA’s, RSU’s and PRSU’s
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)	40,491,749	18,579,930
Market-based awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)	2,435,325	0
Sponsor Covered Shares and Seller Earnout Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)	17,450,594	17,826,268

Income tax

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income tax

The Company’s income tax expense (benefit) is as follows:


	Year ended December 31,
	2022		2021		2020
Current:
Federal	$	—	$	—	$	—
State	179		133		144
Total current	$	179	$	133	$	144

Deferred:
Federal	$	(338)	$	147	$	101
State	(1,083)		647		598
Total deferred	$	(1,421)	$	794	$	699
Total	$	(1,242)	$	927	$	843

The Company’s income tax expense differs from the benefits computed by applying the federal income tax rate of 21% to loss before income taxes. A reconciliation of these differences is as follows:


	Year ended December 31,
	2022		2021		2020
Benefit calculated at federal income tax rate	21.0	%	21.0	%	21.0	%
Change in valuation allowance	(24.4)		(28.8)		(34.2)
State tax benefit	6.7		9.6		7.1
Goodwill impairment	(3.3)		—		—
Nondeductible compensation	(2.1)		(2.5)		—
Provision-to-return permanent differences	1.7		—		—
Federal benefit on state tax	—		(2.0)		(1.5)
Change in fair value of Warrant and Sponsor Covered Shares liabilities	1.4		1.2		—
Change in state tax rate	(0.8)		0.5		5.1
Other permanent differences, net	0.2		0.1		—
Income tax benefit (expense)	0.4	%	(0.9)	%	(2.5)	%

The change in the total valuation allowance during the year was $74.1 million. Although the Company has recorded a valuation allowance against deferred tax assets as discussed below, a portion of deferred tax liabilities related to indefinite lived intangible assets acquired cannot be used as a source of income to offset deferred tax assets. Consequently, this amount is recorded as a deferred tax expense and reflected in the effective tax rate above. The current state tax expense is a result of separate state tax filings for subsidiaries that have taxable income.

The significant components of deferred tax assets and liabilities consist of the following:


	December 31,
	2022		2021
Deferred tax assets:
Net operating loss	$	108,906	$	38,415
Interest expense	9,850		6,834
Intangibles assets	2,129		1,293
Stock-based compensation expense	4,379		2,688
Research and development	3,148		—
Statutory premium reserve	2,245		1,655
Other, net	1,641		11
Accrued compensation	1,393		7,892
Investments	420		458
Right-of-use assets	391		—
Allowance for doubtful accounts	265		173
Loss reserves	212		215
Debt issuance costs	43		52
Deferred lease obligation	18		423
Start-up costs	—		1,080
Total gross deferred tax assets	135,040		61,189
Less valuation allowance	(129,704)		(55,620)
Total deferred tax assets	$	5,336	$	5,569

Deferred tax liabilities:
Other reserves	$	(2,069)	$	(1,360)
Fixed assets	(1,846)		(1,441)
Title plants	(1,428)		(850)
Unrealized gain on investments	(203)		—
Intangibles assets	(140)		(3,689)
Total deferred tax liabilities	$	(5,686)	$	(7,340)
Net deferred tax liability	$	(350)	$	(1,771)

As of December 31, 2022, the Company carried a valuation allowance against deferred tax assets as management believes it is more likely than not that the benefit of the net deferred tax assets covered by that valuation allowance will not be realized. The net deferred tax liability of $0.4 million is included in accrued expenses and other liabilities within the accompanying consolidated balance sheets.

In accounting for uncertainty in income taxes, the Company is required to recognize in its financial statements the impact of a tax position if that position is more likely than not of being sustained in an audit, based on the technical merits of the position. In this regard, an uncertain tax position represents the Company’s expected treatment of a tax position taken in a filed tax return, or planned to be taken in a future tax return, that has not been reflected in measuring income tax expense for financial reporting purposes. There were no unrecognized tax benefits or liabilities as of December 31, 2022 and December 31, 2021.

The amount of unrecognized tax benefit or liability may change in the future for various reasons, including adding amounts for current tax year positions, expiration of open income tax returns due to the expiration of the applicable statute of limitations, changes in management’s judgment about the level of uncertainty, status of examinations, litigation and legislative activity and the additions or eliminations of uncertain tax positions.

As of December 31, 2022, the Company has federal and state net operating loss (“NOL”) carryforwards of $371.2 million and $466.1 million, respectively. As a result of the Tax Cuts and Jobs Act of 2017, any federal NOL arising after the year ended December 31, 2017 can be carried forward indefinitely with no expiration but is limited to 80% of taxable income. The Company has approximately $0.2 million of pre-2018 federal NOLs subject to expiration beginning in 2036. The remainder of the federal NOLs have no expiration. The Company’s state NOLs are subject to various expirations, beginning in 2030.

Utilization of the NOL carryforwards may be subject to limitation under Section 382 of the Internal Revenue Code of 1986 (the “Code”), and similar state provisions, based on ownership changes that have occurred previously or that could occur in the future. Such an annual limitation could result in the expiration or elimination of the NOL carryforwards before utilization. The Company has performed an analysis of its changes in ownership under Section 382 of the Code. Management currently believes that a Section 382 limitation will not limit utilization of the carryforwards prior to their expiration.

The Company’s 2019 through 2021 tax years remain open to federal tax examinations. The Company’s 2018 through 2021 tax years remain open to state tax examinations.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
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+ Details

Stock compensation expense - Summary of Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Number of Stock Options
Beginning balance outstanding (in shares)	24,255,204
Granted (in shares)	0
Exercised (in shares)	(2,094,653)
Cancelled or forfeited (in shares)	(4,570,023)
Ending balance outstanding (in shares)	17,590,528	24,255,204
Options exercisable, Number of Stock Options (in shares)	13,670,902
Weighted Average Exercise Price ($)
Beginning balance outstanding (in usd per share)	$ 0.51
Granted (in usd per share)	0
Exercised (in usd per share)	0.52
Cancelled or forfeited (in usd per share)	0.63
Ending balance outstanding (in usd per share)	0.58	$ 0.51
Options exercisable, Weighted Average Exercise Price (in usd per share)	$ 0.55
Weighted Average Remaining Contractual Life (In years)
Outstanding, Weighted Average Remaining Contractual Life	6 years 8 months 26 days	7 years 10 months 28 days
Granted, Weighted Average Remaining Contractual Life	0 years
Exercised, Weighted Average Remaining Contractual Life	3 years 3 months 25 days
Cancelled or forfeited, Weighted Average Remaining Contractual Life	1 year 8 months 1 day
Options Exercisable, Weighted Average Remaining Contractual Life	6 years 6 months
Outstanding, Aggregate Intrinsic Value	$ 191	$ 109,061
Options exercisable, Aggregate Intrinsic Value	$ 190

Accumulated other comprehensive income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 350,924	$ 188,031	$ 149,345
Ending balance	81,792	350,924	188,031
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0	686	510
Unrealized gain (loss) on available-for-sale debt securities, before tax	(937)	(240)	236
Income tax effect	0	61	(60)
Other comprehensive income, net of tax, before reclassification adjustment	(937)	507	686
Reclassification adjustment for realized gain on sale of available-for-sale debt securities, before tax	0	(678)	0
Income tax effect	0	171	0
Ending balance	$ (937)	$ 0	$ 686

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

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- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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+ Details

Investments and fair value measurements - Summary of Held-to-Maturity Debt Securities Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Amortized Cost
One year or less	$ 67,971
After one year through five years	22,797
Amortized Cost	$ 90,768	$ 67,164
Amortized Cost, Percent of Total
One year or less	75.00%
After one year through five years	25.00%
Total	100.00%
Fair Value
One year or less	$ 67,744
After one year through five years	21,220
Total	$ 88,964	$ 67,400
Fair Value, Percent of Total
One year or less	76.00%
After one year through five years	24.00%
Total	100.00%

Summary of significant accounting policies (Policies)	12 Months Ended
Summary of significant accounting policies (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and in accordance with the rules and regulations of the United States Securities and Exchange Commission (“SEC”). References to the Accounting Standard Codification (“ASC”) and Accounting Standard Updates (“ASU”) included hereinafter refer to the Accounting Standards Codification and Updates issued by the Financial Accounting Standards Board (“FASB”) as the source of authoritative U.S. GAAP. The accompanying consolidated financial statements include the accounts of the Company and the accounts of the Company’s wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of estimates	Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from the estimates made by management. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognized prospectively. Significant items subject to such estimates and assumptions include, but are not limited to, reserves for incurred but not reported claims, the useful lives of property and equipment, accrued net premiums written from Third-Party Agent (as defined in Item 7) referrals, the fair value measurements, valuation of goodwill impairment, the valuations of stock-based compensation arrangements and the Sponsor Covered Shares liability (as defined below).
Cash and cash equivalents and restricted cash	Cash and cash equivalents and restricted cashCash and cash equivalents include cash on hand and on deposit at banking institutions as well as all highly liquid short-term investments with original maturities of 90 days or less. The carrying amounts reported in the consolidated balance sheets for these instruments approximate their fair value.
Investments	Investments Fixed maturity securities Investment securities classified as held-to-maturity are carried at amortized cost because they are purchased with the intent and ability to be held to maturity. The Company also holds restricted investments which are treated as held-to-maturity debt securities. Restricted investments consist of United States Treasuries with maturities of 24 months or less. These restricted investments are kept on deposit in several states and are pledged to the appropriate insurance regulators, in accordance with regulations in each state, for the duration of the time the Company does business in those states. The Company recognizes credit losses for its held-to-maturity debt securities by setting up an allowance which is remeasured each reporting period, with changes in the allowance recorded in the consolidated statements of operations. The Company establishes an allowance for credit losses based on a number of factors including the current economic conditions, management's expectations of future economic conditions and performance indicators, such as credit agency ratings and payment and default history. As of December 31, 2022, credit agency ratings on our U.S. Treasury and corporate debt securities ranged from AAA through B2. For our held-to-maturity debt securities, the Company's model estimates expected credit loss by multiplying the exposure at default by both the probability of default and loss given default (“LGD”). The probability of default and LGD percentages are estimated after considering historical experience with global default rates and unsecured bond recovery rates for horizons aligning to the Company’s held-to-maturity debt security portfolio. The calculated allowance is recorded as an offset to held-to-maturity debt securities in the consolidated balance sheets and in the investment, dividend and other income line on the consolidated statements of operations. Debt securities are classified as available-for-sale unless they are classified as held-to-maturity or trading. Available-for-sale debt securities are recorded at fair value. Any unrealized holding gains or losses on available-for-sale debt securities are reported as accumulated other comprehensive gain or loss, which is a separate component of stockholders’ equity, net of tax, until realized. Mortgage loans Investments in mortgage loans are long-term investments and carried at the principal balance outstanding, net of charge-offs, unamortized purchase premiums and discounts, and deferred loan fees and costs, as applicable. Mortgage loans are held for investment as management has the intent and ability to hold these loans for the foreseeable future, or until maturity or payoff. Equity securities Equity securities are recorded at fair value based upon a quoted market price reported on recognized securities exchanges on the last business day of the year. Any change in unrealized holding gains or losses on equity securities are reported as a component of net income.
Fair value measurements	Fair value measurements ASC 820, “Fair Value Measurements and Disclosures” (“ASC 820”) establishes a fair value hierarchy that prioritizes and ranks the level of observability of inputs used to measure investments at fair value. The observability of inputs is impacted by a number of factors, including the type of investment, characteristics specific to the investment, market conditions and other factors. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under ASC 820 are as follows: Level 1 Quoted prices (unadjusted) in active markets for identical investments at the measurement date are used. Level 2 Pricing inputs are other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 pricing inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, and inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 Pricing inputs are unobservable and include situations where there is little, if any, market activity for the asset or liability. The inputs used in determination of fair value require significant judgment and estimation. When fair value inputs fall within different levels of the fair value hierarchy, the level in the fair value hierarchy within which the asset or liability is categorized in its entirety is determined based on the lowest level input that is significant to the asset or liability. Assessing the significance of a particular input to the valuation of an asset or liability in its entirety requires judgment and considers factors specific to the asset or liability. The categorization of an asset or liability within the hierarchy is based upon the pricing transparency of the asset or liability and does not necessarily correspond to the perceived risk of that asset or liability. Cash and cash equivalents, restricted cash, receivables, prepaid expenses and other assets, accounts payable, and accrued expenses and other liabilities approximate fair value and are therefore excluded from the leveling table seen in Note 4. The cost basis is determined to approximate fair value due to the short-term duration of the financial instruments.
Receivables, net	Receivables, netReceivables are generally due within thirty to ninety days and are recorded net of an allowance for doubtful accounts. Our receivables represent premiums, escrow and related fees due to us as a result of the closing of real estate transactions, investment trade receivables, and other miscellaneous receivables. The Company determines the allowance for doubtful accounts by considering a number of factors, including the length of time receivables are past due, previous loss history and a specific customer’s ability to pay its obligations to the Company. Amounts deemed uncollectible are expensed in the period in which such determination is made.
Fixed assets, net and Internally developed or acquired software	Fixed assets, net Fixed assets, net, consists of internally developed software, furniture, computers, acquired software and equipment, and is recorded at cost less accumulated depreciation. Depreciation expense is computed using the straight-line method over the estimated useful life of each asset. Repair and maintenance costs are expensed as incurred. Fixed assets are reviewed for impairment whenever events or circumstances indicate that the carrying amounts may not be recoverable. Internally developed or acquired software Technology and software are acquired or developed for internal use and for use with the Company’s products. Internally developed software and acquired software are amortized over its estimated useful life or, in the case of cloud-based technology, the shorter of its estimated useful life or contract life, and ranges from three to eight years using the straight-line method. Technology development costs, which include certain payroll-related costs of employees directly associated with developing technology and software in addition to incremental payments to third parties, are capitalized from the time technological feasibility is established until the software is ready for use. Capitalized internally developed software and acquired software development costs for the years ended December 31, 2022 and 2021 are included in fixed assets, net in the consolidated balance sheets. The Company analyzes internally developed software and acquired software for impairment when events or circumstances indicate that the carrying amount may not be recoverable.
Title plants	Title plantsTitle plants are carried at cost, with costs incurred to maintain, update and operate title plants expensed as incurred. Because properly maintained title plants have indefinite lives and do not diminish in value with the passage of time, no provision has been made for depreciation or amortization. The Company analyzes the title plants for impairment when events or circumstances indicate that the carrying amount may not be recoverable. This analysis includes, but is not limited to, the effects of obsolescence, duplication, demand and other economic factors.
Goodwill	Goodwill Goodwill represents the excess of the acquisition price over the fair value of assets acquired and liabilities assumed in a business combination. Goodwill is assigned to one or more reporting units on the date of acquisition. We review our goodwill for impairment annually on October 1 of each year and between annual tests if events or circumstances arise that would more likely than not reduce the fair value of any one of our reporting units below its respective carrying amount. In performing our annual goodwill impairment test, we first perform a qualitative assessment, which requires that we consider macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, changes in the Company’s stock price, changes in management or key personnel, changes in strategy, changes in customers, changes in the composition or carrying amount of a reporting unit or other factors that have the potential to impact fair value. If, after assessing the totality of events and circumstances, we determine that it is more likely than not that the fair values of our reporting units are greater than the carrying amounts, then the quantitative goodwill impairment test is not performed. After performing a qualitative and quantitative assessments as of September 30, 2022 and December 31, 2022, we concluded that goodwill in our Distribution reporting unit was impaired. Refer to Note 3 to the consolidated financial statements for additional details on the goodwill impairment during the year ended December 31, 2022.
Trade names	Trade names The intangible asset values of the Company’s trade names were determined in the North American Title Acquisition, and were assigned a useful life of seven years. The Company’s finite-lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable, and intangibles are also evaluated periodically to determine their remaining useful life. In 2020, the Company determined that there would be a change in the Company’s use of the acquired trade names in the second quarter of 2021. The Company determined that the change in use was not related to the value of the trade names, but to changes in business strategy, and did not result in an impairment. However, the Company changed its estimates of the useful lives of the acquired trade names to better reflect the estimated periods during which these trade names will remain in service. The estimated useful life of the trade names was revised such that the trade names were fully amortized by June 30, 2021.
Revenue recognition	Revenue recognition Net premiums written Insurance premiums on title insurance policies issued directly by the Company through instant and traditional underwriting through our captive title agents and agencies (“Direct Agents”) are recognized on the closing of the underlying transaction, in accordance with ASC Topic 944, Financial Services - Insurance (ASC 944), as substantially all of the services associated with the insurance contract have been rendered at that point in time. Insurance premiums on title insurance policies issued by Third-Party Agents are recognized gross of premiums retained by Third-Party Agents when notice of issuance is received from the Third-Party Agents, which is generally when cash payment is received. In addition, we estimate and accrue for revenues on policies sold but not reported by Third-Party Agents as of the relevant balance sheet closing date. This accrual is based on historical transactional volume data for title insurance policies that have closed and were not reported before the relevant balance sheet closing, as well as trends in our operations and in the title and housing industries. There could be variability in the amount of this accrual from period to period and amounts subsequently reported to us by Third-Party Agents may differ from the estimated accrual recorded in the preceding period. If the amount of revenue subsequently reported to us by Third-Party Agents is higher or lower than our estimate, we record the difference in revenue in the period in which it is reported. For the years ended December 31, 2022 and 2021, the time lag between the closing of transactions by Third-Party Agents and the reporting of policies, or premiums from policies issued by Third-Party Agents to us has been approximately three months. Escrow, other title-related fees and other ASU 2014-09, Revenue from Contracts with Customers (ASC 606) requires that an entity recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Escrow fees and other title-related fees are primarily associated with managing the closing of real estate transactions, including the processing of funds on behalf of the transaction participants, gathering and recording the required closing documents, providing notary and other real estate or title-related activities. The transfer of services for the escrow and other title-related fees are satisfied at the closing of the real estate transaction. Therefore, revenues related to escrow and other title-related fees are recognized at the closing date of the real estate transaction. We also earn a fee for placing and binding title insurance policies with third-party underwriters. In some situations, we act as an agent to place and bind title insurance policies in transactions that involve third-party underwriters in exchange for a fee. This fee is recognized as revenue on the effective date of the policy, which is the closing date of the real estate transaction. It is included in “Escrow, other title-related fees and other” revenue line item in the consolidated statements of operations.
Reinsurance	Reinsurance The Company utilizes excess of loss and quota share reinsurance programs to limit its maximum loss exposure by reinsuring certain risks with other insurers. Reinsurance agreements transfer portions of the underlying risk of the business the Company writes. The Company remains primarily liable to the insured whether or not the reinsurer is able to meet its contractual obligations. However, the reinsurance contract does permit the Company to recover certain incurred losses from its reinsurers, and reinsurance recoveries reduce the maximum loss that the Company may incur as a result of a covered loss event. The Company has two reinsurance treaties: the Excess of Loss Treaty and the Quota Share Treaty. Under the Excess of Loss Treaty, we cede liability over $15.0 million on all files. Excess of loss reinsurance coverage protects the Company from a large loss from a single loss occurrence. The Excess of Loss Treaty provides for ceding liability above the retention of $15.0 million for all policies up to a liability cap of $500.0 million. Under the Quota Share Treaty, during 2020, the Company ceded 100% of its instant underwriting policies. During the period from January 1, 2021 to February 23, 2021 the Company also ceded 100% of its instantly underwriting policies. Effective February 24, 2021 and forward, the Company cedes 25% of the written premium on our instantly underwritten policies. Payments and recoveries on reinsured losses for the Company’s title insurance business were immaterial during the years ended December 31, 2022, 2021 and 2020. Ceding commission from reinsurance transactions are presented as revenue within the “Escrow, other title-related fees and other” revenue line item in the consolidated statements of operations. Total premiums ceded in connection with reinsurance are netted against the written premiums in the consolidated statements of operations.
Liability for loss and loss adjustment expenses	Liability for loss and loss adjustment expenses Our liability for loss and loss adjustment expenses include reserves for known claims as well as reserves for incurred but not reported (“IBNR”) claims. Each known claim is reserved based on our review of the estimated amount of the claim and the costs required to settle the claim. Reserves for IBNR are estimates that are established at the time the premium revenue is recognized and are based upon historical experience and other factors, including industry trends, claim loss history, legal environment, geographic considerations, and the types of title insurance policies written. The liability for loss and loss adjustment expenses also includes reserves for losses arising from closing and disbursement functions due to fraud or operational error. These reserves are intended to provide for closing errors when we are acting as the escrow company such as, disbursing to the wrong party, paying the wrong lender, improperly allocating funds or relying on third-party fraudulent documents in closing transactions. If a loss compensable under a title insurance policy is caused by an act or omission committed by a Third-Party Agent, the Company may seek contribution or reimbursement from the Third-Party Agent. In any event, the Company may proceed against any party who is responsible for any loss under the title insurance policy under rights of subrogation.
Income taxes	Income taxes Under ASC 740, Income Taxes (“ASC 740”), deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period of the enactment date. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties at December 31, 2022, and 2021. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.
Stock compensation expense	Stock compensation expense The Company recognizes stock-based compensation expense in accordance with the provisions of ASC 718, Compensation - Stock Compensation, (“ASC 718”). ASC 718 requires the measurement and recognition of stock-based compensation expense for all stock-based awards issued to employees and directors based on estimated fair values at the grant date. The Company measures the grant date fair value of stock options using the Black-Scholes option-pricing model. Stock-based compensation expense arising from stock options is recorded on a straight-line basis over the vesting period of each grant. Forfeitures are accounted for as incurred. For restricted stock awards (“RSAs”), restricted stock units (“RSUs”), and performance restricted stock units (“PRSUs”) awarded in consideration of services rendered by employees and non-employees, the Company recognizes compensation expense in accordance with the requirements of ASC 718 and ASU 2018-07, Improvements to Nonemployee Share-Based Payment Accounting, respectively. The Company measures the fair value of RSAs, RSUs, and PRSUs using the fair market value of the underlying common stock at the grant date. PRSUs are measured on the probable outcome of the performance conditions applicable to each grant. Stock-based compensation expense arising from RSAs, RSUs, and PRSUs is recorded on a straight-line basis over the vesting period of each grant. Forfeitures are accounted for as incurred. The Company measures the fair value of market-based awards using the fair market value of the underlying common stock at the grant date. The Company recognizes compensation expense related to the market-based awards using the accelerated attribution method over the requisite service period. Public Warrants and Private Placement Warrants As a result of the Business Combination, the Company assumed the Public Warrants (as defined in Note 3) and the Private Placement Warrants (as defined in Note 3) (collectively, the “Warrants”) as of the Closing Date. The Warrants meet the definition of derivatives as contemplated in Derivatives and Hedging (“ASC 815”). As such, the Warrants were recorded as liabilities on the balance sheet at fair value upon the consummation of the Business Combination, with subsequent changes in their respective fair values recognized in the consolidated statements of operations at each reporting period. Sponsor Covered Shares and Seller Earnout Shares Immediately after the Closing Date, certain common stock held by the Sponsor (as defined in Note 3) became subject to vesting, contingent upon the price of Doma’s common stock, par value $0.0001 (“common stock”) exceeding certain thresholds (the “Sponsor Covered Shares”). The Sponsor Covered Shares are accounted for as a derivative due to the settlement adjustments upon change in control transactions that are not deemed to be indexed to our common stock. As such, the Sponsor Covered Shares were recorded as liabilities on the balance sheet at fair value upon the consummation of the Business Combination, with subsequent changes in their respective fair values recognized in the consolidated statements of operations at each reporting period. Also following the Closing Date, equity holders of Old Doma prior to the Business Combination (the “Sellers”) have the right to receive an additional number of shares contingent on the price of our common stock. The Seller Earnout Shares (as defined in Note 3) are treated as an equity classified contract because all settlement scenarios, including those under fundamental change events, are indexed to our common stock (see Note 3 for additional information).Share counts of our common stock provided in this Annual Report on Form 10-K (this “Annual Report”) exclude both the Sponsor Covered Shares and the Seller Earnout Shares.
Concentration of credit risk	Concentration of credit risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in financial institutions and our investment portfolio. The Company has not experienced losses on the cash accounts and management believes the Company is not exposed to significant risks on such accounts. Additionally, we manage the exposure to credit risk in our investment portfolio by investing in high quality securities and diversifying our holdings. Our investment portfolio is comprised of corporate debt, foreign government securities, certificates of deposit, single-family residential mortgage loans, and U.S. Treasuries.
Advertising costs	Advertising costsAdvertising costs, which include promotional expenses, are expensed as incurred.
Earnings per share	Earnings per share The Company uses the two-class method to calculate basic net loss per share and apply the more dilutive of the two-class method, treasury stock method or if-converted method to calculate diluted net loss per share. Undistributed earnings for each period are allocated to participating securities, including preferred shares for applicable periods, based on the contractual participation rights of the security to share in the current earnings as if all current period earnings had been distributed. Losses are not allocated to participating securities as they do not have a contractual obligation to share in losses. The more dilutive of the two-class method and the if-converted method is used to calculate the dilutive impact of the preferred shares. The treasury stock method is utilized to calculate the dilutive impact of the outstanding warrants, RSAs, RSUs, PRSUs and options and the if-converted method is utilized for the Company’s convertible notes. For the years ended December 31, 2022, 2021 and 2020, any preferred shares, stock options, warrants, RSAs, RSUs and PRSUs were anti-dilutive, therefore, were excluded from the computation of diluted earnings per share. Basic and diluted earnings per share attributable to the Company’s common stock for the years ended December 31, 2022, 2021 and 2020 was calculated using weighted average common shares outstanding.
Risk and uncertainties	Risk and uncertainties The real estate market has been impacted by significant macroeconomic factors, market disruptions, and volatility. The Company continues to monitor and react to these factors. For additional information, refer to Part I, Item 1A “Risk Factors” set forth this Annual Report.
Recently issued and adopted accounting pronouncements and recently issued but not adopted accounting pronouncements	Recently issued and adopted accounting pronouncements In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350), simplifying Accounting for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 removes the requirement to perform a hypothetical purchase price allocation to measure goodwill impairment. A goodwill impairment will now be the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The Company early adopted this update as of January 1, 2020 with no material impact on the Company’s financial position and results of operations. The Company has applied this guidance in determining the goodwill impairment discussed within Note 3. In June 2016, the FASB issued ASU No. 2016-13 Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 326). The amendments in this and the related ASUs introduce broad changes to accounting for credit impairment of financial instruments. The primary updates include the introduction of a new current expected credit loss (“CECL”) model that is based on expected rather than incurred losses for instruments measured at amortized cost and amends the accounting for impairment of held-to-maturity securities and available-for-sale securities. This model incorporates past experience, current conditions and reasonable and supportable forecasts affecting collectability of these instruments. The amendments in this update are effective for public entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. For all other entities, the amendment is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The early adoption of this new guidance on January 1, 2022 required the Company to record an allowance for credit losses for the Company’s held-to-maturity investment portfolio, which resulted in an allowance of $0.4 million and a corresponding $0.4 million adjustment for the cumulative effect of a change in accounting principle, net of income taxes. For more information on the held-to-maturity allowance for credit losses, refer to Note 4. Prior to the adoption of the new guidance, the Company utilized an aging model to estimate credit losses on accounts receivable. As this aging model is allowed under the new guidance, there is no impact to the Company’s allowance for credit losses for accounts receivable. The adoption of this new standard did not have a significant impact on the consolidated statements of operations or the consolidated statements of cash flows. The guidance also requires additional disclosures regarding the Company’s held-to-maturity allowance for credit losses, which have been included within Note 4. In February 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”), which provides guidance for accounting for leases. ASU 2016-02 requires lessees to classify leases as either finance or operating leases and to record a right-of-use asset and a lease liability for all leases with a term greater than 12 months regardless of the lease classification. The lease classification will determine whether the lease expense is recognized based on an effective interest rate method or on a straight-line basis over the term of the lease. Modified or new leases subsequent to the effective date will follow ASC 2016-02. Accounting for lessors remains largely unchanged from current U.S. GAAP. Under ASU 2020-05, the effective date for adoption of ASU 2016-02 is fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. We early adopted this new guidance on January 1, 2022 under a modified retrospective transition approach using the cumulative-effect adjustment transition method approved by the FASB, which results in reporting for the comparative periods presented in accordance with the previous lease guidance under ASC 840. We elected the package of practical expedients but did not adopt the hindsight practical expedient as of January 1, 2022. The package of practical expedients allowed the Company not to reassess whether the arrangement contains a lease, lease classification and whether previously capitalized costs qualify as initial direct costs. The practical expedients allowed the Company to continue classifying all of its leases as operating leases as they were previously classified under ASC 840. The Company recognized lease liabilities of $24.4 million and corresponding right-of-use assets of $23.8 million in our consolidated balance sheet on January 1, 2022. The difference between the lease liabilities and corresponding right-of-use assets related to prepaid rent and deferred lease obligations recognized in prepaid expenses, deposits and other assets and accrued expenses and other liabilities, respectively, in our consolidated balance sheet on January 1, 2022, resulting in no cumulative-effect adjustment to opening equity. The new standard did not have a significant impact on the consolidated statements of operations or the consolidated statements of cash flows. The guidance also requires additional disclosures regarding the Company’s lease portfolio, which have been included within Note 21. In January 2020, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740). ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. Specifically, ASU 2019-12 eliminates certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. ASU 2019-12 is effective for annual periods beginning after December 15, 2020, and interim periods beginning after December 15, 2020. ASU 2019-12 is effective for private entities for annual periods beginning after December 15, 2021, and interim periods beginning after December 15, 2022, with early adoption permitted. The Company adopted ASU 2019-12 under the private company transition guidance beginning January 1, 2022, and the adoption of this standard did not have a material impact on the Company’s consolidated financial statements or disclosures given the Company has a full valuation allowance and the scenarios for which the guidance offer simplification are not significant for the Company. Recently issued but not adopted accounting pronouncements In August 2018, the FASB issued ASU 2018-12, Financial Services-Insurance (Topic 944), Targeted Improvements to the Accounting for Long-Duration Contracts, effective for fiscal years beginning after December 15, 2022 including interim periods within those fiscal years. In June of 2020, the FASB deferred the effective date of ASU 2018-12 for one-year in response to implementation challenges resulting from COVID-19. This update requires insurance companies to annually review and update the assumptions used for measuring the liability under long-duration contracts. The amendments in this ASU may be early adopted as of the beginning of an annual reporting period for which financial statements have not yet been issued, including interim financial statements. We do not currently expect to early adopt this standard. Although we have long-duration contracts, this specific guidance is not expected to impact our title insurance operations; therefore, we do not expect this standard to have a material impact on our consolidated financial statements.

Accrued expenses and other liabilities - Schedule of Liabilities Associated With Reduction Plans (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Restructuring Reserve [Roll Forward]
Balance as of January 1, 2022	$ 0
Charges incurred	19,613
Payments and other adjustments	(13,864)
Balance as of December 31, 2022	$ 5,749

Income tax - Reconciliation of federal income tax rate (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Benefit calculated at federal income tax rate	21.00%	21.00%	21.00%
Change in valuation allowance	(24.40%)	(28.80%)	(34.20%)
State tax benefit	6.70%	9.60%	7.10%
Goodwill impairment	(3.30%)	0.00%	0.00%
Nondeductible compensation	(2.10%)	(2.50%)	0.00%
Provision-to-return permanent differences	1.70%	0.00%	0.00%
Federal benefit on state tax	0.00%	(2.00%)	(1.50%)
Change in fair value of Warrant and Sponsor Covered Shares liabilities	1.40%	1.20%	0.00%
Change in state tax rate	(0.80%)	0.50%	5.10%
Other permanent differences, net	0.20%	0.10%	0.00%
Income tax benefit (expense)	0.40%	(0.90%)	(2.50%)

Research and development (Details) - USD ($) $ in Thousands	12 Months Ended
Research and development (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Research and Development [Abstract]
Research and development expenses incurred	$ 16,108	$ 13,377	$ 5,318
Capitalized internally developed software costs	30,609	23,846	13,082
Research and development spend, inclusive of capitalized internally developed software cost	$ 46,717	$ 37,223	$ 18,400

Fixed assets - Schedule of fixed assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total fixed assets, gross	$ 63,915	$ 65,496
Accumulated depreciation and amortization	(24,532)	(19,543)
Total fixed assets, net	39,383	45,953
Internally developed software
Property, Plant and Equipment [Line Items]
Total fixed assets, gross	40,934	41,189
Furniture and equipment
Property, Plant and Equipment [Line Items]
Total fixed assets, gross	5,552	7,046
Acquired software
Property, Plant and Equipment [Line Items]
Total fixed assets, gross	4,656	3,829
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total fixed assets, gross	3,653	3,542
Computer equipment
Property, Plant and Equipment [Line Items]
Total fixed assets, gross	8,434	8,148
Construction in process
Property, Plant and Equipment [Line Items]
Total fixed assets, gross	$ 686	$ 1,742

Income tax - Deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss	$ 108,906	$ 38,415
Interest expense	9,850	6,834
Intangibles assets	2,129	1,293
Stock-based compensation expense	4,379	2,688
Research and development	3,148	0
Statutory premium reserve	2,245	1,655
Other, net	1,641	11
Accrued compensation	1,393	7,892
Investments	420	458
Right-of-use assets	391	0
Allowance for doubtful accounts	265	173
Loss reserves	212	215
Debt issuance costs	43	52
Deferred lease obligation	18	423
Start-up costs	0	1,080
Total gross deferred tax assets	135,040	61,189
Less valuation allowance	(129,704)	(55,620)
Total deferred tax assets	5,336	5,569
Deferred tax liabilities:
Other reserves	(2,069)	(1,360)
Fixed assets	(1,846)	(1,441)
Unrealized gain on investments	(203)	0
Total deferred tax liabilities	(5,686)	(7,340)
Net deferred tax liability	(350)	(1,771)
Title Plant
Deferred tax liabilities:
Intangibles assets	(1,428)	(850)
Intangible Assets (Excluding Title Plants)
Deferred tax liabilities:
Intangibles assets	$ (140)	$ (3,689)

Business combinations (Tables)

12 Months Ended

Dec. 31, 2022

Reverse Recapitalization [Abstract]

Schedule of Goodwill

The changes in the carrying value of goodwill, by segment, were as follows:


	Distribution		Underwriting		Total
Beginning balance, January 1, 2022	$	88,074	$	23,413	$	111,487
Impairment losses	(65,207)		—		(65,207)
Ending balance, December 31, 2022	$	22,867	$	23,413	$	46,280

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Investments and fair value measurements - Summary of Fair Values of the Sponsor Earnout Shares Using a Monte Carlo Simulation Valuation Model (Details)	Dec. 31, 2022 $ / shares	Dec. 31, 2021 $ / shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Share price (in usd per share)	$ 0.92
Sponsor Covered Shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Share price (in usd per share)	$ 0.42	$ 5.08
Vesting Period \| Sponsor Covered Shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, measurement input	10
Expected volatility \| Sponsor Covered Shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, measurement input	0.650	0.550
Risk-free interest rate \| Sponsor Covered Shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, measurement input	0.0396	0.0152
Expected term (years) \| Sponsor Covered Shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, measurement input	8.6	9.6
Expected dividend yield \| Sponsor Covered Shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, measurement input	0	0
Annual change in control probability \| Sponsor Covered Shares
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, measurement input	0.020	0.020

Investments and fair value measurements - Changes for Level 3 Items Measured at Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 5,415	$ 0
Sponsor Covered Shares assumed in Business Combination		9,332
Change in fair value of Sponsor Covered Shares	(5,196)	(3,917)
Ending balance	$ 219	$ 5,415

Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

The Company has operating leases consisting of office space and office equipment. Lease terms and options vary in the Company's operating leases dependent upon the underlying leased asset. We exclude options to extend or terminate a lease from our recognition as part of our right-of-use assets and lease liabilities until those options are known and/or executed, as we typically do not exercise options to purchase the underlying leased asset. As of December 31, 2022, we have leases with remaining terms of 1 month to 6.8 years, some of which may include no options for renewal and others with options to extend the lease terms from 1 year to 5 years. The components of our operating leases were as follows:


	For the year ended December 31, 2022
Components of lease expense:
Operating lease expense	$	12,119
Less sublease income	(304)
Net lease expense	$	11,815

Cash flow information related to leases:
Operating cash outflow from operating leases during the year ended December 31, 2022	$	11,186


	December 31, 2022
Right-of-use assets obtained during the year ended December 31, 2022 in exchange for new operating lease liabilities	$	10,371
Weighted average remaining lease term	4.05 years
Weighted average discount rate	10		%


Maturities of lease liabilities:	December 31, 2022
2023	$	9,731
2024	8,386
2025	6,205
2026	4,681
2027	3,231
Thereafter	1,304
Total lease payments	33,538
Less imputed interest	(6,049)
Lease liabilities	$	27,489

During the year ended December 31, 2022, the Company recorded a $7.5 million impairment on its operating lease right-of-use assets due to vacating locations as a result of a smaller workforce. The right-of-use asset impairments were recorded in long-lived asset impairment in the consolidated statements of operations. The right-of-use asset impairments were determined by comparing the fair value of the impacted right-of-use asset to the carrying value of the asset as of the impairment measurement date, as required under ASC 360, Property, Plant, and Equipment, using Level 2 inputs. The fair value of the right-of-use asset was based on the estimated sublease income taking into consideration the time period it will take to obtain a sublessor, the uncertainty of obtaining a sublessor, vacancy rates in the associated market, and the sublease rate. The right-of-use asset impairments relate to our Distribution segment. There were no impairments of operating lease right-of-use assets during the years ended December 31, 2021 and 2020.

Segment information - Summary of Operating Results by Segment (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Segment Reporting Information [Line Items]

Net premiums written

^[1]

$ 385,253

$ 475,352

$ 345,608

Escrow, other title-related fees and other

52,008

79,585

61,275

Investment, dividend and other income

2,920

3,106

2,931

Total revenues

440,181

558,043

409,814

Premiums retained by agents

^[2]

261,476

298,445

220,143

Direct labor

86,573

89,616

62,154

Other direct costs

28,544

35,065

20,535

Provision for claims

16,740

21,335

15,337

Adjusted gross profit

46,848

113,582

91,645

Operating Segments | Distribution

Segment Reporting Information [Line Items]

Net premiums written

Escrow, other title-related fees and other

106,727

177,069

129,590

Investment, dividend and other income

418

205

699

Total revenues

107,145

177,274

130,289

Premiums retained by agents

Direct labor

76,175

81,204

55,334

Other direct costs

18,741

23,726

16,912

Provision for claims

3,165

2,257

1,415

Adjusted gross profit

9,064

70,087

56,628

Operating Segments | Underwriting

Segment Reporting Information [Line Items]

Net premiums written

385,253

476,328

345,608

Escrow, other title-related fees and other

2,692

3,520

2,099

Investment, dividend and other income

2,502

2,901

2,232

Total revenues

390,447

482,749

349,939

Premiums retained by agents

318,887

400,425

290,557

Direct labor

10,398

8,412

6,820

Other direct costs

9,803

11,339

3,623

Provision for claims

13,575

19,078

13,922

Adjusted gross profit

37,784

43,495

35,017

Eliminations

Segment Reporting Information [Line Items]

Net premiums written

(976)

Escrow, other title-related fees and other

(57,411)

(101,004)

(70,414)

Investment, dividend and other income

Total revenues

(57,411)

(101,980)

(70,414)

Premiums retained by agents

(57,411)

(101,980)

(70,414)

Direct labor

Other direct costs

Provision for claims

Adjusted gross profit

$ 0

[1]	Net premiums written includes revenues from a related party of $134.9 million, $114.2 million, and $88.6 million for the years ended December 31, 2022, 2021, and 2020, respectively (see Note 14 to our consolidated financial statements).
[2]	Premiums retained by Third-Party Agents includes expenses associated with a related party of $108.4 million, $92.5 million, and $71.2 million during the years ended December 31, 2022, 2021, and 2020, respectively (see Note 14 to our consolidated financial statements).

Summary of significant accounting policies - Schedule of gross premiums written and ceded premiums (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Reinsurance Retention Policy [Line Items]

Gross premiums earned

$ 388,068

$ 482,232

$ 349,636

Ceded premiums

(2,815)

(6,880)

(4,028)

Net premiums earned

^[1]

$ 385,253

$ 475,352

$ 345,608

Premiums Written, Net | Product Concentration Risk | Amount Assumed To Net Premiums

Reinsurance Retention Policy [Line Items]

Concentration risk percent

99.30%

98.60%

98.80%

[1]	Net premiums written includes revenues from a related party of $134.9 million, $114.2 million, and $88.6 million for the years ended December 31, 2022, 2021, and 2020, respectively (see Note 14 to our consolidated financial statements).

Business combinations

12 Months Ended

Dec. 31, 2022

Reverse Recapitalization [Abstract]

Business combinations

Capitol Business Combination

As described in Note 1, on March 2, 2021, Old Doma entered into the Agreement with Capitol, a blank check company incorporated in the State of Delaware and formed for the purpose of effecting a merger. Pursuant to the Agreement, a newly formed subsidiary of Capitol was merged with and into Old Doma, and the Business Combination was completed on July 28, 2021. The Business Combination was accounted for as a reverse recapitalization and Capitol was treated as the acquired company for financial statement reporting purposes. Old Doma was deemed the predecessor for financial reporting purposes and Doma was deemed the successor SEC registrant, meaning that Old Doma’s financial statements for periods prior to the consummation of the Business Combination are disclosed in the financial statements included within this Annual Report and will be disclosed in Doma’s future periodic reports. No goodwill or other intangible assets were recorded, in accordance with GAAP. At

the Closing Date, Doma received gross cash consideration of $345.0 million as a result of the reverse recapitalization from Capitol’s trust account, which was then reduced by the redemption of Class A common stock of $294.9 million. In addition, existing Old Doma stockholders and option holders received cash payments from the settlement of the net proceeds of the Business Combination totaling $20.1 million.

In connection with the Business Combination, Capitol entered into subscription agreements with certain investors, whereby Doma issued 30,000,000 shares of common stock at $10.00 per share for an aggregate purchase price of $300.0 million (the “PIPE Investment”), which closed simultaneously with the consummation of the Business Combination.

Upon the Closing Date, holders of Old Doma common stock, par value $0.0001 per share (“Old Doma Common Stock”) received shares of our common stock in an amount determined by the exchange ratio of approximately 5.994933 to 1 (the “Exchange Ratio”), which was based on the implied price per share prior to the Business Combination established within the Agreement. Reported shares and earnings per share available to holders of Old Doma’s Common Stock, prior to the Business Combination, have been retroactively restated reflecting the Exchange Ratio. Applicable share activity within the statement of changes in stockholder’s equity were also retroactively converted to our common stock at the Exchange Ratio.

Old Doma recorded the net assets acquired from Capitol. The total estimated transaction costs directly attributable to the Business Combination are approximately $67.0 million, consisting of advisory, legal, share registration and other professional fees. $12.1 million of these fees represent underwriter fees incurred by Capitol prior to the Business Combination related to their initial public offering.

Immediately after the Closing Date, 1,325,664 shares of common stock held by the Sponsor became subject to vesting, contingent upon the price of Doma’s common stock, par value $0.0001 (“Doma common stock”) exceeding certain thresholds (the “Sponsor Covered Shares”).

Immediately after giving effect to the Business Combination and the PIPE Investment, there were 321,461,822 shares of common stock outstanding, which excludes the 1,325,664 of Sponsor Covered Shares. The Company is authorized to issue 2,000,000,000 shares of common stock having a par value of $0.0001 per share. Additionally, the Company is authorized to issue 100,000,000 shares of preferred stock having a par value of $0.0001 per share. As of December 31, 2022, there were 329,147,979 and 0 shares of common stock and preferred stock issued and outstanding, respectively, which excludes the 1,325,664 of Sponsor Covered Shares.

On December 4, 2020, Capitol consummated its initial public offering, which included the issuance of 11,500,000 redeemable warrants (the “Public Warrants”). Simultaneously with the closing of the initial public offering, Capitol completed the private sale of 5,833,333 warrants (the “Private Placement Warrants”). These Warrants remain outstanding following the Business Combination and each whole warrant entitles the holder to purchase one share of our common stock at a price of $11.50 (see Note 20 for additional information).

Immediately after the Closing Date, 20% of the aggregate of our common stock held by certain investors (collectively, the “Sponsor”) became subject to vesting, contingent upon the price of our common stock exceeding certain thresholds. The Sponsor Covered Shares will vest in two tranches: (i) one-half of such shares shall vest if the last reported sale price of the common stock equals or exceeds $15.00 for any 20 trading days within any 30-day trading period ending on or before the tenth anniversary of the Closing Date, and (ii) one-half of such shares shall vest if the last reported sale price of the common stock equals or exceeds $17.50 for any 20 trading days within any 30-day trading period ending on or before the tenth anniversary of the Closing Date. The Sponsor is also entitled to the Sponsor Covered Shares if a covered strategic transaction or change in control, as defined by the sponsor support agreement dated as of March 2, 2021 (the “Sponsor Support Agreement”) by and among the sponsors named thereto, Capitol and Old Doma, occurs prior to the ten (10)-year anniversary of the Closing Date. As of December 31, 2022, the Sponsor Covered Shares were legally outstanding; however, since none of the conditions were met, no related shares are included in the Company’s consolidated balance sheets and consolidated statement of changes in stockholders’ equity or for the purposes of calculating earnings per share.

Also following the Closing Date, the Sellers have the contingent right to receive up to an additional number of shares equal to 5% of the sum of (i) the aggregate number of outstanding shares of our common stock (including

restricted common stock, but excluding Sponsor Covered Shares), plus (ii) the maximum number of shares underlying our options that are vested and the maximum number of shares underlying warrants to purchase shares of Doma common stock issued as replacement warrants for Old Doma warrants, in each case of these clauses (i) and (ii), as of immediately following the Closing Date (the “Seller Earnout Shares”). The Seller Earnout Shares are contingently issuable to the Sellers in two tranches: (i) one-half of such shares shall be issued if the last reported sale price of the common stock equals or exceeds $15.00 for any 20 trading days within any 30-day trading period ending on or before the fifth anniversary of the Closing Date, and (ii) one-half of such shares shall be issued if the last reported sale price of the common stock equals or exceeds $17.50 for any 20 trading days within any 30-day trading period ending on or before the fifth anniversary of the Closing Date. Since none of the conditions of the Seller Earnout Shares were met as of December 31, 2022, no related shares are included in the Company’s consolidated statements of changes in stockholders’ equity as of December 31, 2022 or for purposes of calculating earnings per share.

North American Title Acquisition

On January 7, 2019, we acquired from Lennar its subsidiary, North American Title Insurance Company, which operated its title insurance underwriting business, and its third-party title insurance agency business, which was operated under its North American Title Company brand (collectively, the “Acquired Business”), for total stock and deferred cash consideration of $171.7 million (the “North American Title Acquisition”), including $87.0 million in the form of a seller financing note. Goodwill of $111.5 million resulted from the North American Title Acquisition.

During the year ended December 31, 2022, management determined that the Company was less likely to reach previously forecasted revenue as a result of adverse mortgage and housing market conditions, including rapidly rising interest rates and low housing inventory. In addition, during the three months ended December 31, 2022, the Company implemented a strategic initiative to focus resources on its instant underwriting capabilities. These factors and a significant, sustained decrease in the Company’s stock price in 2022 indicated that the Company had triggering events, resulting in the Company performing separate quantitative goodwill impairment analyses as of September 30, 2022 and December 31, 2022. The resulting valuations of the Underwriting reporting unit indicated that its estimated fair value was above its carrying value. The estimated fair value of the Distribution reporting unit was below its carrying value as of September 30, 2022 and as of December 31, 2022. As such, the Company determined that the Distribution reporting unit’s goodwill was impaired.

The Company performed the valuations of the Distribution and Underwriting reporting units using discounted cash flow and market valuation methodologies, using Level 3 inputs. The valuations considered the Company’s market capitalization compared to the enterprise value, using Level 2 inputs. During the year ended December 31, 2022, the Company recognized total goodwill impairment charges of $65.2 million. The Company believes that its procedures for estimating future cash flows for each reporting unit are reasonable and consistent with current market conditions as of the testing date. If the markets that impact the Company’s business continue to deteriorate, the Company could recognize further goodwill impairment.

The changes in the carrying value of goodwill, by segment, were as follows:


	Distribution		Underwriting		Total
Beginning balance, January 1, 2022	$	88,074	$	23,413	$	111,487
Impairment losses	(65,207)		—		(65,207)
Ending balance, December 31, 2022	$	22,867	$	23,413	$	46,280

Accumulated impairment losses to goodwill were $65.2 million as of December 31, 2022.

Regulation and statutory financial information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023
Statutory Accounting Practices [Line Items]
Distributions made or paid without approval	$ 57.9
Combined statutory capital and surplus	57.9	$ 45.3
Combined statutory net income	$ 13.9	$ 20.2
Forecast
Statutory Accounting Practices [Line Items]
Distributions made or paid without approval			$ 13.9

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (302,209)	$ (113,056)	$ (35,103)
Other comprehensive income, net of tax:
Unrealized gain (loss) on available-for-sale debt securities, net of tax and related valuation allowance	(937)	(179)	176
Reclassification adjustment for realized gain on sale of available-for-sale debt securities, net of tax	0	(507)	0
Comprehensive loss	$ (303,146)	$ (113,742)	$ (34,927)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Revenue recognition (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Summary of Revenue

Our revenue consists of:


			Year ended December 31,
			2022		2021		2020
Revenue Stream	Statements of Operations Classification	Segment	Total Revenue
Revenue from insurance contracts:
Direct Agents title insurance premiums	Net premiums written	Underwriting	$	67,743	$	119,236	$	81,420
Direct Agents title insurance premiums	Net premiums written	Elimination	—		(976)		—
Third-Party Agent title insurance premiums	Net premiums written	Underwriting	317,510		357,092		264,188
Total revenue from insurance contracts			$	385,253	$	475,352	$	345,608
Revenue from contracts with customers:
Escrow fees	Escrow, title-related and other fees	Distribution	$	37,106	$	61,005	$	41,438
Other title-related fees and income	Escrow, title-related and other fees	Distribution	69,621		116,064		88,152
Other title-related fees and income	Escrow, title-related and other fees	Underwriting	2,692		3,520		2,099
Other title-related fees and income	Escrow, title-related and other fees	Elimination(1)	(57,411)		(101,004)		(70,414)
Total revenue from contracts with customers			$	52,008	$	79,585	$	61,275
Other revenue:
Interest and investment income (2)	Investment, dividend and other income	Distribution	$	727	$	230	$	325
Interest and investment income (2)	Investment, dividend and other income	Underwriting	2,558		1,952		2,086
Realized gains and losses, net	Investment, dividend and other income	Distribution	(309)		(25)		374
Realized gains and losses, net	Investment, dividend and other income	Underwriting	(56)		949		146
Total other revenues			$	2,920	$	3,106	$	2,931
Total revenues			$	440,181	$	558,043	$	409,814

_________________

(1)Premiums retained by Direct Agents are recognized as income to the Distribution segment, and expense to the Underwriting segment. Upon consolidation, the impact of these internal segment transactions is eliminated. See Note 7. Segment information for additional breakdown.

(2)Interest and investment income consists primarily of interest payments received on held-to-maturity debt securities, available-for-sale debt securities and mortgage loans.

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 78,450	$ 379,702
Restricted cash	2,933	4,126
Fixed maturities
Held-to-maturity debt securities, at amortized cost (net of allowance for credit losses of $440 at December 31, 2022 and $0 at December 31, 2021)	90,328	67,164
Available-for-sale debt securities, at fair value (amortized cost of $59,191 at December 31, 2022 and $0 at December 31, 2021)	58,254	0
Mortgage loans	297	2,022
Other invested assets	0	325
Total investments	148,879	69,511
Receivables (net of allowance for credit losses of $1,488 and $1,082 at December 31, 2022 and 2021, respectively)	21,292	15,498
Prepaid expenses, deposits and other assets	8,124	15,692
Lease right-of-use assets	18,634	0
Fixed assets (net of accumulated depreciation of $24,532 and $19,543 at December 31, 2022 and 2021, respectively)	39,383	45,953
Title plants	14,533	13,952
Goodwill	46,280	111,487
Total assets	378,508	655,921
Liabilities and stockholders’ equity
Accounts payable	2,909	6,930
Accrued expenses and other liabilities	28,892	54,149
Leases liabilities	27,489	0
Senior secured credit agreement, net of debt issuance costs and original issue discount	154,790	141,769
Liability for loss and loss adjustment expenses	82,070	80,267
Warrant liabilities	347	16,467
Sponsor Covered Shares liability	219	5,415
Total liabilities	296,716	304,997
Commitments and contingencies (see Note 15)
Stockholders’ equity:
Common stock, 0.0001 par value; 2,000,000,000 shares authorized at December 31, 2022 and 2021; 329,147,979 and 323,347,806 shares issued and outstanding as of December 31, 2022 and 2021, respectively	33	33
Additional paid-in capital	577,483	543,070
Accumulated deficit	(494,787)	(192,179)
Accumulated other comprehensive income	(937)	0
Total stockholders’ equity	81,792	350,924
Total liabilities and stockholders’ equity	$ 378,508	$ 655,921

Related party transactions (Details) - USD ($)	12 Months Ended
Related party transactions (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lennar \| Settlement of TSA Services Arrangement \| Affiliated Entity
Related Party Transactions (Details) [Line Items]
Expenses from transactions with related party			$ 300,000
Lennar \| Rent associated with shared spaces \| Affiliated Entity
Related Party Transactions (Details) [Line Items]
Expenses from transactions with related party	$ 0	$ 100,000	200,000
Keystone Strategy, LLC \| Consulting Agreement \| Affiliated Entity
Related Party Transactions (Details) [Line Items]
Expenses from transactions with related party	0	$ 300,000	$ 0
Accounts payable, related parties	$ 0
Lennar \| Doma Holding, Inc
Related Party Transactions (Details) [Line Items]
Converted shares, percentage	25.00%

Leases - Lease Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Maturities of lease liabilities:
2023	$ 9,731
2024	8,386
2025	6,205
2026	4,681
2027	3,231
Thereafter	1,304
Total lease payments	33,538
Less imputed interest	(6,049)
Leases liabilities	$ 27,489	$ 0

Earnings per share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Earnings per share

The calculation of the basic and diluted EPS is as follows:


	Year ended December 31,
	2022		2021		2020
Numerator
Net loss attributable to Doma Holdings, Inc.	$	(302,209)	$	(113,056)	$	(35,103)

Denominator
Weighted-average common shares – basic and diluted	326,042,708		177,150,914		62,458,039

Net loss per share attributable to stockholders
Basic and diluted	$	(0.93)	$	(0.64)	$	(0.56)

As we have reported net loss for each of the periods presented, all potentially dilutive securities are antidilutive. The following potential outstanding shares of common stock and contingently issuable shares were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because the contingent criteria has not been satisfied and/or including them would have been antidilutive:


	As of December 31,
	2022	2021
Outstanding stock options	17,590,528	24,255,204
Warrants for common and preferred stock	18,022,750	18,022,750
RSA’s, RSU’s and PRSU’s	40,491,749	18,579,930
Market-based awards	2,435,325	—
Sponsor Covered Shares and Seller Earnout Shares	17,450,594	17,826,268
Total antidilutive securities	95,990,946	78,684,152

Fixed assets (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Fixed Assets

The following table summarizes the range of useful lives assigned to fixed assets, by asset class:


Useful lives:
Leasehold improvements			Shorter of the lease term or useful life of the asset
Furniture and equipment			Five years
Computer equipment			Three years
Acquired software			Three to eight years
Internally developed software			Five years

Fixed assets consist of the following:


	December 31,
	2022		2021
Internally developed software	$	40,934	$	41,189
Furniture and equipment	5,552		7,046
Acquired software	4,656		3,829
Leasehold improvements	3,653		3,542
Computer equipment	8,434		8,148
Construction in process	686		1,742
Total fixed assets, gross	$	63,915	$	65,496
Accumulated depreciation and amortization	(24,532)		(19,543)
Total fixed assets, net	$	39,383	$	45,953

Within each respective period, internally developed software and acquired software consist of the following:


	Year ended December 31
	2022		2021
Internally developed software	$	30,609	$	23,846
Accumulated amortization	(11,472)		(5,528)
Internally developed software, net	$	19,137	$	18,318

Acquired software	1,111		2
Accumulated amortization	(381)		(63)
Acquired software, net	$	730	$	(61)

Schedule of Net Gains and Losses on Sales of Fixed Assets

The following table reflects the composition of net gains or losses for the sales of fixed assets for each of the years shown below:


	Year ended December 31,
	2022		2021		2020
Gains (losses):
Fixed assets:
Gains	$	77	$	59	$	259
Losses	(344)		(49)		(128)
Total net gains (losses)	$	(267)	$	10	$	131

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash Flows from Operating Activities:
Net loss	$ (302,209)	$ (113,056)	$ (35,103)
Adjustments to reconcile net loss to net cash used in operating activities:
Interest expense - paid in kind	10,161	8,817	6,462
Depreciation and amortization	16,019	10,321	5,815
Stock-based compensation expense	34,060	19,673	2,495
Amortization of debt issuance costs and original issue discount	2,860	2,050	0
Amortization of premiums and accretion of discounts on held-to-maturity securities, net	173	1,224	566
Provision for doubtful accounts	922	1,230	424
Deferred income taxes	(1,421)	794	739
Realized (gain) loss on sale of investments	56	(952)	(146)
Net unrealized loss (gain) on equity securities	0	119	(54)
(Gain) loss on disposal of fixed assets and title plants	267	(10)	(345)
Change in fair value of warrant and Sponsor Covered Shares liabilities	(21,317)	(6,691)	0
Goodwill impairment	65,207	0	0
Long-lived asset impairment	32,027	0	0
Change in operating assets and liabilities:
Accounts receivable	(7,430)	(2,149)	(2,243)
Prepaid expenses, deposits and other assets	6,529	(6,214)	(2,261)
Lease right-of-use assets and lease liabilities	867	0	0
Accounts payable	(4,020)	304	2,209
Accrued expenses and other liabilities	(21,971)	17,744	5,126
Liability for loss and loss adjustments expenses	1,804	10,467	7,042
Net cash used in operating activities	(187,416)	(56,329)	(9,274)
Cash flow from investing activities:
Proceeds from sales, calls and maturities of investments: Held-to-maturity	90,827	33,535	18,408
Proceeds from sales, calls and maturities of investments: Available-for-sale	1,429	7,817	0
Proceeds from sales of investments: Equity securities	0	2,000	0
Proceeds from sales and principal repayments of investments: Mortgage loans	1,725	958	390
Purchase of investments: Held-to-maturity	(115,022)	(36,241)	(65,403)
Purchase of investments: Available-for-sale	(60,259)	0	0
Purchase of investments: Equity securities	0	0	(1,000)
Proceeds from sales of fixed assets	77	306	0
Purchases of fixed assets	(34,333)	(32,169)	(17,013)
Proceeds from sale of title plants and dividends from title plants	755	666	1,585
Purchases of title plants	(581)	0	0
Net cash used in investing activities	(115,382)	(23,128)	(63,033)
Cash flow from financing activities:
Proceeds from issuance of Series C preferred stock, net of financing costs	0	0	70,701
Proceeds from issuance of senior secured credit agreement	0	150,000	0
Repayments on loan from a related party	0	(65,532)	(28,431)
Debt issuance costs	0	(579)	0
Exercise of stock warrants	0	48	0
Exercise of stock options	353	3,244	391
Redemptions of redeemable common and preferred stock	0	(294,856)	0
Net proceeds from Business Combination and PIPE Investment	0	624,952	0
Payment of costs directly attributable to the issuance of common stock in connection with Business Combination and PIPE investment	0	(66,014)	0
Net cash provided by financing activities	353	351,263	42,661
Net change in cash and cash equivalents and restricted cash	(302,445)	271,806	(29,646)
Cash and cash equivalents and restricted cash at the beginning of period	383,828	112,022	141,668
Cash and cash equivalents and restricted cash at the end of period	81,383	383,828	112,022
Supplemental cash flow disclosures:
Cash paid for interest	8,137	7,320	7
Cash paid for income taxes	164	135	240
Supplemental disclosure of non-cash investing and financing activities:
Unrealized gains (loss) on available-for-sale debt securities	(937)	(179)	176
Issuance of penny warrants related to the senior secured credit agreement	0	(18,519)	0
Warrant liabilities recognized in conjunction with the Business Combination	0	19,240	0
Net liabilities assumed in the Business Combination	$ 0	$ 9,517	$ 0

Summary of significant accounting policies - Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
	Feb. 29, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2022
Property, Plant and Equipment [Line Items]
Restricted cash		$ 2,933,000	$ 4,126,000
Allowance for doubtful accounts		1,500,000	1,100,000
Proceeds from sale of title plant		755,000	666,000	$ 1,585,000
Accrued payments for interest and penalties		$ 0	$ 0
Common stock, par value (in usd per share)		$ 0.0001	$ 0.0001
Advertising expenses		$ 3,200,000	$ 6,200,000	3,100,000
Stockholders’ equity		(81,792,000)	(350,924,000)
Leases liabilities		27,489,000	0
Lease right-of-use assets		$ 18,634,000	0
Accounting Standards Update 2016-13
Property, Plant and Equipment [Line Items]
Allowance for credit loss					$ 400,000
Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2016-13 \| Accumulated Deficit
Property, Plant and Equipment [Line Items]
Stockholders’ equity					400,000
Cumulative Effect, Period of Adoption, Adjustment \| Accounting Standards Update 2016-02
Property, Plant and Equipment [Line Items]
Leases liabilities					24,400,000
Lease right-of-use assets					$ 23,800,000
Minimum \| Software and Software Development
Property, Plant and Equipment [Line Items]
Useful lives		3 years
Maximum \| Software and Software Development
Property, Plant and Equipment [Line Items]
Useful lives		8 years
Title Plant
Property, Plant and Equipment [Line Items]
Impairment of title plants		$ 0	0	0
Proceeds from sale of title plant	$ 3,200,000
Gain on sale of title plant	$ 200,000
Trade Names
Property, Plant and Equipment [Line Items]
Useful life of intangible assets		7 years
Amortization expense			2,700,000	2,300,000
Finite lived intangible assets			$ 0
Trade Names \| Intangible Assets, Amortization Period
Property, Plant and Equipment [Line Items]
Amortization expense				$ 1,500,000

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2022	Feb. 24, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-39754
Entity Registrant Name	Doma Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-1956909
Entity Address, Address Line One	101 Mission Street
Entity Address, Address Line Two	Suite 740
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	650
Local Phone Number	419-3827
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 143,421,421
Entity Common Stock, Shares Outstanding		330,141,986
Documents Incorporated by Reference	Portions of the proxy statement relating to the Registrant’s 2023 Annual Meeting of Stockholders (the “2023 Proxy Statement”), to be filed no later than 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Amendment Flag	false
Entity Central Index Key	0001722438
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Class A common stock, par value $0.0001
Document Information [Line Items]
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	DOMA
Security Exchange Name	NYSE
Warrants, each whole warrant exercisable for one share at an exercise price of $11.50 per share
Document Information [Line Items]
Title of 12(b) Security	Warrants, each whole warrant exercisable for one share of common stock at an exercise price of $11.50 per share
Trading Symbol	DOMA.WS
Security Exchange Name	NYSE

Business combinations - North American Title Acquisition (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 07, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill		$ 46,280	$ 111,487
Goodwill impairment		65,207	$ 0	$ 0
Accumulated impairment losses to goodwill		$ 65,200
North American Title Acquisition
Business Acquisition [Line Items]
Promissory note	$ 171,700
Goodwill	111,500
North American Title Acquisition \| Notes Payable, Related Party
Business Acquisition [Line Items]
NATG liabilities	$ 87,000

- Definition

+ References + Details

Related party transactions - Summary of Related Party Transactions (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Net premiums earned

^[1]

$ 385,253

$ 475,352

$ 345,608

Premiums retained by agents

^[2]

261,476

298,445

220,143

Net receivables

21,292

15,498

Lennar | Affiliated Entity

Net premiums earned

134,869

114,212

88,609

Premiums retained by agents

108,419

92,466

$ 71,229

Net receivables

$ 4,175

$ 3,883

[1]	Net premiums written includes revenues from a related party of $134.9 million, $114.2 million, and $88.6 million for the years ended December 31, 2022, 2021, and 2020, respectively (see Note 14 to our consolidated financial statements).
[2]	Premiums retained by Third-Party Agents includes expenses associated with a related party of $108.4 million, $92.5 million, and $71.2 million during the years ended December 31, 2022, 2021, and 2020, respectively (see Note 14 to our consolidated financial statements).

Consolidated Statements of Operations - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Revenues:

Net premiums earned

^[1]

$ 385,253

$ 475,352

$ 345,608

Escrow, other title-related fees and other

52,008

79,585

61,275

Investment, dividend and other income

2,920

3,106

2,931

Total revenues

440,181

558,043

409,814

Expenses:

Premiums retained by third-party agents

^[2]

261,476

298,445

220,143

Title examination expense

18,261

22,137

16,204

Provision for claims

16,740

21,335

15,337

Personnel costs

259,939

238,134

143,526

Other operating expenses

93,219

79,951

43,285

Goodwill impairment

65,207

Long-lived asset impairment

32,027

Total operating expenses

746,869

660,002

438,495

Loss from operations

(306,688)

(101,959)

(28,681)

Other (expense) income:

Change in fair value of Warrant and Sponsor Covered Shares liabilities

21,317

6,691

Interest expense

(18,080)

(16,861)

(5,579)

Loss before income taxes

(303,451)

(112,129)

(34,260)

Income tax benefit (expense)

1,242

(927)

(843)

Net loss

$ (302,209)

$ (113,056)

$ (35,103)

Earnings per share:

Net loss per share attributable to stockholders - basic (in usd per share)

$ (0.93)

$ (0.64)

$ (0.56)

Net loss per share attributable to stockholders - diluted (in usd per share)

$ (0.93)

$ (0.64)

$ (0.56)

Weighted average shares outstanding common stock - basic (in shares)

326,042,708

177,150,914

62,458,039

Weighted average shares outstanding common stock - diluted (in shares)

326,042,708

177,150,914

62,458,039

[1]	Net premiums written includes revenues from a related party of $134.9 million, $114.2 million, and $88.6 million for the years ended December 31, 2022, 2021, and 2020, respectively (see Note 14 to our consolidated financial statements).
[2]	Premiums retained by Third-Party Agents includes expenses associated with a related party of $108.4 million, $92.5 million, and $71.2 million during the years ended December 31, 2022, 2021, and 2020, respectively (see Note 14 to our consolidated financial statements).

Related party transactions (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Related Party Transactions

The Company recorded the following revenues and premiums retained by Third-Party Agents from these transactions, which are included within our Underwriting segment:


	Year ended December 31,
	2022		2021		2020
Revenues	$	134,869	$	114,212	$	88,609
Premiums retained by Third-Party Agents	108,419		92,466		71,229


	As of December 31,
	2022		2021
Net receivables	$	4,175	$	3,883

Commitments and contingencies	12 Months Ended
Commitments and contingencies	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Legal matters The Company is subject to claims and litigation matters in the ordinary course of business. Management does not believe the resolution of any such matters will have a materially adverse effect on the Company’s financial position or results of operations. Commitments and other contingencies The Company also administers escrow deposits as a service to customers, a substantial portion of which are held at third-party financial institutions. These escrow deposits amounted to $77.4 million and $204.8 million at December 31, 2022 and 2021, respectively. Such deposits are not reflected in the consolidated balance sheets, but the Company could be contingently liable for them under certain circumstances (for example, if the Company disposes of escrowed assets). Such contingent liabilities have not materially impacted the results of operations or financial condition to date and are not expected to do so in the future. See Note 21 in our consolidated financial statements for information on our operating lease obligations.

Business Combination - Capitol Business Combination (Details) $ / shares in Units, $ in Thousands			12 Months Ended
	Jul. 28, 2021 USD ($) tranche $ / shares shares	Jul. 27, 2021 USD ($)	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($)	Sep. 03, 2021 shares	Dec. 04, 2020 $ / shares shares
Schedule Of Reverse Recapitalization [Line Items]
Cash acquired through reverse recapitalization \| $	$ 345,000
Common stock redeemed \| $	294,900
Net proceeds from Business Combination and PIPE Investment \| $	$ 20,100		$ 0	$ 624,952	$ 0
Sale of stock, number of shares (in Shares)	30,000,000
Unit price per share (in usd per share) \| $ / shares	$ 10.00
Proceeds from consideration on sale of shares \| $	$ 300,000
Common stock, par value (in usd per share) \| $ / shares			$ 0.0001	$ 0.0001
Recapitalization exchange ratio	5.994933
Transaction costs \| $	$ 67,000
Common stock, shares outstanding (in shares)	321,461,822		329,147,979	323,347,806
Common stock, shares authorized (in shares)			2,000,000,000	2,000,000,000
Preferred stock, shares authorized (in shares)			100,000,000
Preferred stock par value (in usd per share) \| $ / shares			$ 0.0001
Common stock, shares issued (in shares)			329,147,979	323,347,806
Preferred stock, shares issued (in shares)			0
Preferred stock, shares outstanding (in shares)			0
Number of shares for warrants (in shares)						17,333,333
Capitol
Schedule Of Reverse Recapitalization [Line Items]
Transaction costs \| $		$ 12,100
Public Warrants
Schedule Of Reverse Recapitalization [Line Items]
Number of shares for warrants (in shares)			11,500,000	11,500,000			11,500,000
Number of shares called by each warrant (in shares)							1
Exercise price of warrants (in usd per share) \| $ / shares							$ 11.50
Private Placement Warrants
Schedule Of Reverse Recapitalization [Line Items]
Number of shares for warrants (in shares)			5,833,333	5,833,333			5,833,333
Number of shares called by each warrant (in shares)							1
Exercise price of warrants (in usd per share) \| $ / shares							$ 11.50
Sponsor Covered Shares
Schedule Of Reverse Recapitalization [Line Items]
Common stock, shares outstanding (in shares)	13,256.64
Percentage of shares subject to vesting	20.00%
Number of vesting tranches \| tranche	2
Period threshold for change in control	10 years
Sponsor Covered Shares \| Sale price of common stock equals or exceeds $15
Schedule Of Reverse Recapitalization [Line Items]
Percentage of vesting shares	50.00%
Stock price trigger (in usd per share) \| $ / shares	$ 15.00
Trading days threshold	20 days
Consecutive trading days threshold	30 days
Sponsor Covered Shares \| Sale price of common stock equals or exceeds $17.50
Schedule Of Reverse Recapitalization [Line Items]
Percentage of vesting shares	50.00%
Stock price trigger (in usd per share) \| $ / shares	$ 17.50
Trading days threshold	20 days
Consecutive trading days threshold	30 days
Earnout Shares
Schedule Of Reverse Recapitalization [Line Items]
Number of vesting tranches \| tranche	2
Additional shares receivable	5.00%
Earnout Shares \| Sale price of common stock equals or exceeds $15
Schedule Of Reverse Recapitalization [Line Items]
Percentage of vesting shares	50.00%
Stock price trigger (in usd per share) \| $ / shares	$ 15.00
Trading days threshold	20 days
Consecutive trading days threshold	30 days
Earnout Shares \| Sale price of common stock equals or exceeds $17.50
Schedule Of Reverse Recapitalization [Line Items]
Percentage of vesting shares	50.00%
Stock price trigger (in usd per share) \| $ / shares	$ 17.50
Trading days threshold	20 days
Consecutive trading days threshold	30 days

Investments and fair value measurements - Summary of Accrued Interest (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Accrued interest receivable on investments	$ 1,157	$ 899
Corporate debt securities
Debt and Equity Securities, FV-NI [Line Items]
Accrued interest receivable on investments	834	874
U.S. Treasury securities
Debt and Equity Securities, FV-NI [Line Items]
Accrued interest receivable on investments	281	12
Foreign government securities
Debt and Equity Securities, FV-NI [Line Items]
Accrued interest receivable on investments	42	0
Accrued interest receivable on investment securities
Debt and Equity Securities, FV-NI [Line Items]
Accrued interest receivable on investments	1,157	886
Mortgage loans
Debt and Equity Securities, FV-NI [Line Items]
Accrued interest receivable on investments	$ 0	$ 13

Earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator
Net loss	$ (302,209)	$ (113,056)	$ (35,103)
Denominator
Weighted-average common shares - basic (in shares)	326,042,708	177,150,914	62,458,039
Weighted-average common shares - diluted (in shares)	326,042,708	177,150,914	62,458,039
Net loss per share attributable to stockholders
Basic (in usd per share)	$ (0.93)	$ (0.64)	$ (0.56)
Diluted (in usd per share)	$ (0.93)	$ (0.64)	$ (0.56)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Investments and fair value measurements - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments, All Other Investments [Abstract]
Debt securities, held-to-maturity, restricted	$ 5,900,000	$ 4,200,000
Change in net unrealized gains and losses on held-to-maturity debt	(2,000,000.0)	(800,000)	$ 900,000
Proceeds from sale of held-to-maturity securities	1,000,000
Net realized losses on sale of held to maturity debt securities	6,000
Change in net unrealized gains on available-for-sale debt securities	$ (900,000)	$ (900,000)	$ 200,000

Stock compensation expense - Narrative (Details) $ / shares in Units, $ in Millions		1 Months Ended	12 Months Ended
	Oct. 05, 2021	Jun. 30, 2022 $ / shares shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2020 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense			$ 33.7	$ 20.1	$ 2.5
Intrinsic value of options exercised in period			3.5	35.2	2.0
Total fair value of options vested			12.6	$ 7.4	$ 1.5
Weighted-average grant date fair value of stock options (in dollars per share) \| $ / shares				$ 5.99	$ 8.42
Stock-based compensation expense yet to be recognized related to stock options			$ 9.7
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period			10 years
Conversion ratio			1
Issued in period (in shares) \| shares			0
Weighted-average recognition period of unrecognized stock-based compensation expense			1 year 10 months 9 days
Stock Option \| Omnibus Incentive Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future issuance (in shares) \| shares			59,500,000
Stock Option \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			7 months
Stock Option \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			60 months
RSA’s, RSU’s and PRSU’s
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average recognition period of unrecognized stock-based compensation expense			3 years 3 days
Fair value of award vested			$ 3.8	$ 5.2	$ 0.4
Stock-based compensation expense yet to be recognized related to award			$ 66.1
Restricted Stock \| Anniversary One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentages	25.00%
Restricted Stock \| Anniversary Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentages	25.00%
Restricted Stock \| Anniversary Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentages	25.00%
Restricted Stock \| Anniversary Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentages	25.00%
Market-based awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Weighted-average recognition period of unrecognized stock-based compensation expense			3 years 5 months 1 day
Stock-based compensation expense yet to be recognized related to award			$ 0.6
Market-based awards \| Omnibus Incentive Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Number of shares authorized (in shares) \| shares		2,435,325
Share allocation per threshold		33.333%
Time-based service condition satisfied period		4 years
Market-based awards \| Stock Price Threshold One \| Omnibus Incentive Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock weighted average price (in usd per share) \| $ / shares		$ 5.00
Market-based awards \| Stock Price Threshold Two \| Omnibus Incentive Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock weighted average price (in usd per share) \| $ / shares		7.50
Market-based awards \| Stock Price Threshold Three \| Omnibus Incentive Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock weighted average price (in usd per share) \| $ / shares		$ 10.00

Income tax - Income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
Federal	$ 0	$ 0	$ 0
State	179	133	144
Total current	179	133	144
Deferred:
Federal	(338)	147	101
State	(1,083)	647	598
Total deferred	(1,421)	794	699
Income tax benefit (expense)	$ (1,242)	$ 927	$ 843

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Investments and fair value measurements - Debt Securities Held to Maturity Allowance for Credit Loss (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Rollforward of Credit Loss Allowance for Held-to-Maturity Debt Securities
Beginning balance, January 1, 2022	$ 0
Current-period provision for expected credit losses	41
Write-off charged against the allowance, if any	0
Recoveries of amounts previously written off, if any	0
Ending balance of the allowance for credit losses, December 31, 2022	440
Cumulative Effect, Period of Adoption, Adjusted Balance
Rollforward of Credit Loss Allowance for Held-to-Maturity Debt Securities
Beginning balance, January 1, 2022	$ 399

Investments and fair value measurements - Summary of Held-to-Maturity Debt Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 90,768	$ 67,164
Unrealized Gains	5	459
Unrealized Losses	(1,809)	(223)
Fair Value	88,964	67,400
Corporate debt securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	61,308	62,078
Unrealized Gains	5	459
Unrealized Losses	(1,640)	(207)
Fair Value	59,673	62,330
U.S. Treasury securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	24,152	4,849
Unrealized Gains	0	0
Unrealized Losses	(165)	(16)
Fair Value	23,987	4,833
Foreign government securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	5,003	0
Unrealized Gains	0	0
Unrealized Losses	(4)	0
Fair Value	4,999	0
Certificate of deposits
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	305	237
Unrealized Gains	0	0
Unrealized Losses	0	0
Fair Value	$ 305	$ 237

Earnings per share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The calculation of the basic and diluted EPS is as follows:


	Year ended December 31,
	2022		2021		2020
Numerator
Net loss attributable to Doma Holdings, Inc.	$	(302,209)	$	(113,056)	$	(35,103)

Denominator
Weighted-average common shares – basic and diluted	326,042,708		177,150,914		62,458,039

Net loss per share attributable to stockholders
Basic and diluted	$	(0.93)	$	(0.64)	$	(0.56)

Schedule of Antidilutive Securities Excluded from Computation

The following potential outstanding shares of common stock and contingently issuable shares were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because the contingent criteria has not been satisfied and/or including them would have been antidilutive:


	As of December 31,
	2022	2021
Outstanding stock options	17,590,528	24,255,204
Warrants for common and preferred stock	18,022,750	18,022,750
RSA’s, RSU’s and PRSU’s	40,491,749	18,579,930
Market-based awards	2,435,325	—
Sponsor Covered Shares and Seller Earnout Shares	17,450,594	17,826,268
Total antidilutive securities	95,990,946	78,684,152

Summary of significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Useful Lives Assigned to Fixed Assets

The following table summarizes the range of useful lives assigned to fixed assets, by asset class:


Useful lives:
Leasehold improvements			Shorter of the lease term or useful life of the asset
Furniture and equipment			Five years
Computer equipment			Three years
Acquired software			Three to eight years
Internally developed software			Five years

Fixed assets consist of the following:


	December 31,
	2022		2021
Internally developed software	$	40,934	$	41,189
Furniture and equipment	5,552		7,046
Acquired software	4,656		3,829
Leasehold improvements	3,653		3,542
Computer equipment	8,434		8,148
Construction in process	686		1,742
Total fixed assets, gross	$	63,915	$	65,496
Accumulated depreciation and amortization	(24,532)		(19,543)
Total fixed assets, net	$	39,383	$	45,953

Within each respective period, internally developed software and acquired software consist of the following:


	Year ended December 31
	2022		2021
Internally developed software	$	30,609	$	23,846
Accumulated amortization	(11,472)		(5,528)
Internally developed software, net	$	19,137	$	18,318

Acquired software	1,111		2
Accumulated amortization	(381)		(63)
Acquired software, net	$	730	$	(61)

Schedule of Gross Premiums Written and Ceded Premiums

Gross premiums earned and ceded premiums are as follows:


	Year ended December 31
	2022			2021			2020
Gross premiums earned	$	388,068		$	482,232		$	349,636
Ceded premiums	(2,815)			(6,880)			(4,028)
Net premiums earned	$	385,253		$	475,352		$	345,608
Percentage of amount assumed to net	99.3		%	98.6		%	98.8		%

Revenue recognition

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue recognition

Disaggregation of revenue

Our revenue consists of:


			Year ended December 31,
			2022		2021		2020
Revenue Stream	Statements of Operations Classification	Segment	Total Revenue
Revenue from insurance contracts:
Direct Agents title insurance premiums	Net premiums written	Underwriting	$	67,743	$	119,236	$	81,420
Direct Agents title insurance premiums	Net premiums written	Elimination	—		(976)		—
Third-Party Agent title insurance premiums	Net premiums written	Underwriting	317,510		357,092		264,188
Total revenue from insurance contracts			$	385,253	$	475,352	$	345,608
Revenue from contracts with customers:
Escrow fees	Escrow, title-related and other fees	Distribution	$	37,106	$	61,005	$	41,438
Other title-related fees and income	Escrow, title-related and other fees	Distribution	69,621		116,064		88,152
Other title-related fees and income	Escrow, title-related and other fees	Underwriting	2,692		3,520		2,099
Other title-related fees and income	Escrow, title-related and other fees	Elimination(1)	(57,411)		(101,004)		(70,414)
Total revenue from contracts with customers			$	52,008	$	79,585	$	61,275
Other revenue:
Interest and investment income (2)	Investment, dividend and other income	Distribution	$	727	$	230	$	325
Interest and investment income (2)	Investment, dividend and other income	Underwriting	2,558		1,952		2,086
Realized gains and losses, net	Investment, dividend and other income	Distribution	(309)		(25)		374
Realized gains and losses, net	Investment, dividend and other income	Underwriting	(56)		949		146
Total other revenues			$	2,920	$	3,106	$	2,931
Total revenues			$	440,181	$	558,043	$	409,814

_________________

(2)Interest and investment income consists primarily of interest payments received on held-to-maturity debt securities, available-for-sale debt securities and mortgage loans.

See Note 2. Revenue recognition for additional information.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Investments and fair value measurements - Schedule of Unrealized Loss on Held-to-Maturity Debt Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule of Held-to-maturity Securities [Line Items]
HTM, Less than 12 months, Fair value	$ 73,631	$ 22,976
HTM, Less than 12 months, Unrealized losses	(719)	(208)
HTM, Greater than 12 months, Fair value	12,671	605
HTM, Greater than 12 months, Unrealized losses	(1,090)	(15)
HTM, Fair value	86,302	23,581
HTM, Unrealized losses	(1,809)	(223)
Corporate debt securities
Schedule of Held-to-maturity Securities [Line Items]
HTM, Less than 12 months, Fair value	48,798	18,309
HTM, Less than 12 months, Unrealized losses	(614)	(192)
HTM, Greater than 12 months, Fair value	8,546	605
HTM, Greater than 12 months, Unrealized losses	(1,026)	(15)
HTM, Fair value	57,344	18,914
HTM, Unrealized losses	(1,640)	(207)
U.S. Treasury securities
Schedule of Held-to-maturity Securities [Line Items]
HTM, Less than 12 months, Fair value	19,834	4,667
HTM, Less than 12 months, Unrealized losses	(101)	(16)
HTM, Greater than 12 months, Fair value	4,125	0
HTM, Greater than 12 months, Unrealized losses	(64)	0
HTM, Fair value	23,959	4,667
HTM, Unrealized losses	(165)	$ (16)
Foreign government securities
Schedule of Held-to-maturity Securities [Line Items]
HTM, Less than 12 months, Fair value	4,999
HTM, Less than 12 months, Unrealized losses	(4)
HTM, Greater than 12 months, Fair value	0
HTM, Greater than 12 months, Unrealized losses	0
HTM, Fair value	4,999
HTM, Unrealized losses	$ (4)

Income tax - Narrative (Details) $ in Millions	12 Months Ended
Income tax - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($)
Income Tax Examination [Line Items]
Change in valuation allowance	$ 74.1
Operating loss carryforwards, subject to expiration	0.2
Domestic Tax Authority
Income Tax Examination [Line Items]
Federal and state net operating loss	371.2
State and Local Jurisdiction
Income Tax Examination [Line Items]
Federal and state net operating loss	466.1
Accrued Liabilities And Other Liabilities
Income Tax Examination [Line Items]
Net deferred tax liability	$ 0.4

Stock compensation expense - The Unobservable Significant Inputs To The Valuation Model (Details)	12 Months Ended
	Dec. 31, 2022 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price at issuance (in usd per share)	$ 0.92
Market-based awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	75.00%
Risk-free interest rate	3.14%
Current expected term (years)	3 years 10 months 24 days
Expected dividend yield	0.00%

Employee benefit plan (Details) - USD ($)	4 Months Ended	8 Months Ended	12 Months Ended
Employee benefit plan (Details) - USD ($)	May 15, 2020	Dec. 31, 2020	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution percentage				50.00%
Employer matching percentage of employee's gross pay				6.00%
Maximum annual contributions per employee that receive an employer match, percent			3.50%	3.00%
Defined contributions	$ 900,000	$ 0	$ 4,400,000	$ 2,600,000
First 1%
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution percentage			100.00%
Employer matching percentage of employee's gross pay			1.00%
Next 5%
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution percentage			50.00%
Employer matching percentage of employee's gross pay			5.00%

Investments and fair value measurements - Summary of Company's Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	$ 347	$ 16,467
Sponsor Covered Shares liability	219	5,415
Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	200	10,900
Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	100	5,500
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Sponsor Covered Shares liability	219	5,415
Total	566	21,882
Fair Value, Recurring \| Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	230	10,925
Fair Value, Recurring \| Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	117	5,542
Fair Value, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Sponsor Covered Shares liability	0	0
Total	230	10,925
Fair Value, Recurring \| Level 1 \| Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	230	10,925
Fair Value, Recurring \| Level 1 \| Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	0	0
Fair Value, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Sponsor Covered Shares liability	0	0
Total	117	5,542
Fair Value, Recurring \| Level 2 \| Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	0	0
Fair Value, Recurring \| Level 2 \| Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	117	5,542
Fair Value, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Sponsor Covered Shares liability	219	5,415
Total	219	5,415
Fair Value, Recurring \| Level 3 \| Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	0	0
Fair Value, Recurring \| Level 3 \| Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liabilities	$ 0	$ 0

Accrued expenses and other liabilities- Narrative (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) plan position	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Restructuring Cost and Reserve [Line Items]
Forfeited stock-based compensation, reduction plan	$ 4,000,000
Workforce Reduction Plan
Restructuring Cost and Reserve [Line Items]
Number of workforce reduction plans \| plan	3
Number of positions expected to be eliminated \| position	1,076
Percentage of workforce expected to be eliminated	52.00%
Contract Termination
Restructuring Cost and Reserve [Line Items]
Accelerated contract charges	$ 5,200,000	$ 0	$ 0

Fixed assets - Schedule of net gains and losses on sales of fixed assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fixed assets:
Gains	$ 77	$ 59	$ 259
Losses	(344)	(49)	(128)
Total net gains (losses)	$ (267)	$ 10	$ 131

Warrant liabilities	12 Months Ended
Warrant liabilities	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Warrant liabilities	Warrant liabilities As a result of the Business Combination, the Company assumed, as of the Closing Date, Public Warrants to purchase an aggregate of 11,500,000 shares of our common stock and Private Placement Warrants to purchase an aggregate of 5,833,333 shares of our common stock. Each whole Warrant entitles the holder to purchase one share of common stock at a price of $11.50. The Warrants became exercisable commencing on December 4, 2021, which is one year from the closing of the initial public offering of Capitol; provided, that we maintain an effective registration statement under the Securities Act of 1934, as amended (the “Securities Act”), covering our common stock. Redemption of Public Warrants when the price per share of our common stock equals or exceeds $18.00 The Company may call the Public Warrants for redemption: •in whole and not in part; •at a price of $0.01 per Public Warrant; •upon not less than 30 days’ prior written notice of redemption to each Public Warrant holder; and •if, and only if, the last reported sale price of our common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like and for certain issuances of common stock and equity-linked securities as described above) for any 20 trading days within a 30-trading day period ending three business days before the Company sends to the notice of redemption to the Public Warrant holders. The Company will not redeem the Public Warrants as described above unless a registration statement under the Securities Act covering the issuance of the shares of common stock issuable upon a cashless exercise of the Public Warrants is then effective and a current prospectus relating to those shares of common stock is available throughout the 30-day redemption period, except if the Public Warrants may be exercised on a cashless basis and such cashless exercise is exempt from registration under the Securities Act. Redemption of Public Warrants when the price per share of our common stock equals or exceeds $10.00 The Company may redeem the outstanding Public Warrants: •in whole and not in part; •at $0.10 per Public Warrant upon a minimum of 30 days’ prior written notice of redemption; provided that holders will be able to exercise their Public Warrants prior to redemption and receive a number of shares based on the redemption date and the “fair market value” of common stock except as otherwise described below; •if, and only if, the last reported sale price of our common stock equals or exceeds $10.00 per share (as adjusted per stock splits, stock dividends, reorganizations, reclassifications, recapitalizations and the like and for certain issuances of common stock and equity-linked securities as described above) on the trading day prior to the date on which the Company sends the notice of redemption to the Public Warrant holders; and •if, and only if, the last reported sale price of common stock is less than $18.00 per share (as adjusted for stock for stock splits, stock dividends, reorganizations, recapitalizations and the like and for certain issuances of common stock and equity-linked securities), the Private Placement Warrants are also concurrently called for redemption on the same terms as the outstanding Public Warrants, as described above. Beginning on the date the notice of redemption is given until the Public Warrants are redeemed or exercised, holders may elect to exercise their Public Warrants on a cashless basis. The “fair market value” of our common stock will mean the volume-weighted average price of our common stock for the ten trading days immediately following the date on which the notice of redemption is sent to the holders of Public Warrants. In no event will the Public Warrants be exercisable in connection with this redemption feature for more than 0.361 shares of common stock per Public Warrant (subject to adjustment). The Private Placement Warrants are identical to the Public Warrants except that the Private Placement Warrants, (i) subject to limited exceptions, are not redeemable by us, (ii) may be exercised for cash or on a cashless basis and (iii) are entitled to registration rights (including the shares of our common stock issuable upon exercise of the Private Placement Warrants), in each case, so long as they are held by the initial purchasers or any of their permitted transferees (as further described in the warrant agreement, dated as of December 1, 2020, between the Company and Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent (the “Warrant Agreement”). If the Private Placement Warrants are held by holders other than the initial purchasers or any of their permitted transferees, they will be redeemable by us and exercisable by the holders on the same basis as the Public Warrants. On September 3, 2021, the Company filed a Registration Statement on Form S-1 (No. 333-258942), as amended, with the SEC (which was declared effective on September 8, 2021; and the Company subsequently filed a post-effective amendment thereto, which was declared effective on March 30, 2022), which related to, among other things, the issuance of an aggregate of up to 17,333,333 shares of common stock issuable upon the exercise of the Warrants. As of December 31, 2022 and 2021, the aggregate values of the Public Warrants were $0.2 million and $10.9 million, respectively, representing Public Warrants outstanding to purchase 11,500,000 shares of our common stock. As of December 31, 2022 and 2021, the aggregate values of the Private Warrants were $0.1 million and $5.5 million, respectively, representing Private Warrants outstanding to purchase 5,833,333 shares of our common stock. The Warrants are accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities in the consolidated balance sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of Warrants and Sponsor Covered Shares liabilities in the consolidated statements of operations.

Segment information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Summary of Operating Results of the Company's Reportable Segments

The following table summarizes the operating results of the Company’s reportable segments:


	Year ended December 31, 2022
	Distribution		Underwriting		Eliminations		Consolidated total
Net premiums written	$	—	$	385,253	$	—	$	385,253
Escrow, other title-related fees and other (1)	106,727		2,692		(57,411)		52,008
Investment, dividend and other income	418		2,502		—		2,920
Total revenue	$	107,145	$	390,447	$	(57,411)	$	440,181

Premiums retained by agents (2)	$	—	$	318,887	$	(57,411)	$	261,476
Direct labor (3)	76,175		10,398		—		86,573
Other direct costs (4)	18,741		9,803		—		28,544
Provision for claims	3,165		13,575		—		16,740
Adjusted gross profit	$	9,064	$	37,784	$	—	$	46,848


	Year ended December 31, 2021
	Distribution		Underwriting		Eliminations		Consolidated total
Net premiums written	$	—	$	476,328	$	(976)	$	475,352
Escrow, other title-related fees and other (1)	177,069		3,520		(101,004)		79,585
Investment, dividend and other income	205		2,901		—		3,106
Total revenue	$	177,274	$	482,749	$	(101,980)	$	558,043

Premiums retained by agents (2)	$	—	$	400,425	$	(101,980)	$	298,445
Direct labor (3)	81,204		8,412		—		89,616
Other direct costs (4)	23,726		11,339		—		35,065
Provision for claims	2,257		19,078		—		21,335
Adjusted gross profit	$	70,087	$	43,495	$	—	$	113,582


	Year ended December 31, 2020
	Distribution		Underwriting		Eliminations		Consolidated total
Net premiums written	$	—	$	345,608	$	—	$	345,608
Escrow, other title-related fees and other (1)	129,590		2,099		(70,414)		61,275
Investment, dividend and other income	699		2,232		—		2,931
Total revenue	$	130,289	$	349,939	$	(70,414)	$	409,814

Premiums retained by agents (2)	$	—	$	290,557	$	(70,414)	$	220,143
Direct labor (3)	55,334		6,820		—		62,154
Other direct costs (4)	16,912		3,623		—		20,535
Provision for claims	1,415		13,922		—		15,337
Adjusted gross profit	$	56,628	$	35,017	$	—	$	91,645

_______________

(1)Includes fee income from closings, escrow, title exams, ceding commission income, as well as premiums retained by Direct Agents.

(4)Includes title examination expense, office supplies, and premium and other taxes.

Reconciliation of Company's Total Reportable Segments' Adjusted Gross Profit to Total Loss Before Income Taxes

The following table provides a reconciliation of the Company’s total reportable segments’ adjusted gross profit to its total loss before income taxes:


	Year ended December 31,
	2022		2021		2020
Adjusted gross profit	$	46,848	$	113,582	$	91,645
Depreciation and amortization	16,019		10,321		5,815
Corporate and other expenses (1)	240,283		205,220		114,511
Goodwill impairment	65,207		—		—
Long-lived asset impairment	32,027		—		—
Change in fair value of Warrant and Sponsor Covered Shares liabilities	(21,317)		(6,691)		—
Interest expense	18,080		16,861		5,579
Loss before income taxes	$	(303,451)	$	(112,129)	$	(34,260)

_______________

Summary of significant accounting policies - Reinsurance (Details) $ in Millions		2 Months Ended	12 Months Ended
	Feb. 24, 2021	Feb. 23, 2021	Dec. 31, 2022 USD ($) treaty	Dec. 31, 2020
Reinsurance Retention Policy [Line Items]
Number of reinsurance treaties \| treaty			2
Reinsurance Policy, Type [Axis]: Excess of Loss Treaty
Reinsurance Retention Policy [Line Items]
Amount retained			$ 15.0
Maximum amount reinsured			$ 500.0
Reinsurance Policy, Type [Axis]: Quota Share Treaty
Reinsurance Retention Policy [Line Items]
Reinsured percentage	25.00%	100.00%		100.00%

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Preferred Stock Preferred Stock Series A	Preferred Stock Preferred Stock Series A-1	Preferred Stock Preferred Stock Series A-2	Preferred Stock Preferred Stock Series B	Preferred Stock Preferred Stock Series C	Common Stock	Common Stock Common Stock	Additional Paid-in-Capital	Additional Paid-in-Capital Common Stock	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2019				43,737,586	48,913,906	14,003,187	15,838,828	25,599,456
Beginning balance at Dec. 31, 2019	$ 149,345			$ 1	$ 1	$ 0	$ 0	$ 0	$ 1		$ 192,852		$ (44,020)		$ 510
Beginning balance (in shares) at Dec. 31, 2019									62,191,701
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of preferred stock, net of financing costs (in shares)								35,066,175
Issuance of preferred stock, net of financing costs	70,702							$ 1			70,701
Exercise of stock options (in shares)									640,606
Exercise of stock options	416										416
Stock-based compensation expenses	2,495										2,495
Net loss	(35,103)												(35,103)
Other comprehensive income (loss)	176														176
Ending balance (in shares) at Dec. 31, 2020				43,737,586	48,913,906	14,003,187	15,838,828	60,665,631
Ending balance at Dec. 31, 2020	$ 188,031			$ 1	$ 1	$ 0	$ 0	$ 1	$ 1		266,464		(79,123)		686
Ending balance (in shares) at Dec. 31, 2020									62,832,307
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)									5,058,976
Exercise of stock options	$ 2,968										2,968
Exercise of stock warrants (in shares)					28,870,387
Exercise of stock warrants	187										187
Stock-based compensation expenses	19,673										19,673
Original issue discount on senior secured credit agreement	18,519										18,519
Net loss	(113,056)												(113,056)
Other comprehensive income (loss)	(686)														(686)
Conversion of convertible notes (in shares)				(43,737,586)	(77,784,293)	(14,003,187)	(15,838,828)	(60,665,631)	212,029,525	(1,227,451)
Conversion of stock	22		$ 30,080	$ (1)	$ (1)			$ (1)	$ 21		4	$ 30,080
Issuance of common stock in connection with Business Combination and PIPE Investment (in shares)									44,654,449
Issuance of common stock in connection with Business Combination and PIPE Investment	259,397								$ 5		259,392
Par value change for Old Doma Common Stock	6								6
Costs directly attributable to the issuance of common stock in connection with Business Combination and PIPE Investment	(54,217)										(54,217)
Ending balance (in shares) at Dec. 31, 2021				0	0	0	0	0
Ending balance at Dec. 31, 2021	$ 350,924	$ (399)		$ 0	$ 0	$ 0	$ 0	$ 0	$ 33		543,070		(192,179)	$ (399)	0
Ending balance (in shares) at Dec. 31, 2021	323,347,806								323,347,806
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	2,094,653								2,114,531
Exercise of stock options	$ 353										353
Vesting of RSU awards (in shares)									3,685,642
Stock-based compensation expenses	34,060										34,060
Net loss	(302,209)												(302,209)
Other comprehensive income (loss)	$ (937)														(937)
Ending balance (in shares) at Dec. 31, 2022	0			0	0	0	0	0
Ending balance at Dec. 31, 2022	$ 81,792			$ 0	$ 0	$ 0	$ 0	$ 0	$ 33		$ 577,483		$ (494,787)		$ (937)
Ending balance (in shares) at Dec. 31, 2022	329,147,979								329,147,979

Debt (Details) - USD ($)	Jan. 29, 2021	Dec. 31, 2020	Dec. 31, 2022	Sep. 03, 2021
Debt Instrument [Line Items]
Number of shares for warrants (in shares)				17,333,333
Penny Warrant
Debt Instrument [Line Items]
Percentage of shares called by each warrant	1.35%
Number of shares for warrants (in shares)		4,200,000
Senior Debt \| Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount		$ 150,000,000
Debt instrument, term		5 years
Debt instrument, stated interest rate		11.25%
Debt instrument, percentage of interest paid in cash		5.00%
Debt instrument, debt default interest rate		15.00%
Minimum liquidity covenant		$ 20,000,000
Minimum consolidated revenue covenant		$ 130,000,000
Period for monthly payments		24 months
Debt fair value			$ 160,600,000

Stock compensation expense - Nonvested Market-based awards (Details) - Market-based awards	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Number of Market-based awards
Beginning balance nonvested (in shares) \| shares	0
Granted (in shares) \| shares	2,435,325
Vested (in shares) \| shares	0
Cancelled or Forfeited (in shares) \| shares	0
Ending balance nonvested (in shares) \| shares	2,435,325
Average Grant Date Fair Value ($)
Beginning balance nonvested (in usd per share) \| $ / shares	$ 0
Granted (in usd per share) \| $ / shares	0.32
Vested (in usd per share) \| $ / shares	0
Cancelled or Forfeited (in usd per share) \| $ / shares	0
Ending balance nonvested (in usd per share) \| $ / shares	$ 0.32

Accrued expenses and other liabilities - Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Employee benefits	$ 7,140	$ 5,059
Severance	5,749	0
Contract terminations	5,248	0
Premium taxes	3,862	7,305
Employee compensation	3,380	27,697
Other	3,513	14,088
Accrued expenses and other liabilities	$ 28,892	$ 54,149

Commitments and contingencies - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Escrow Deposit, Contingent Liability
Loss Contingencies [Line Items]
Contingent liabilities	$ 77.4	$ 204.8

Research and development

12 Months Ended

Dec. 31, 2022

Research and Development [Abstract]

Research and development

For the years ended December 31, 2022, 2021, and 2020, the Company recorded the following related to research and development expenses and capitalized internally developed software costs:


	Year ended December 31,
	2022		2021		2020
Research and development expenses incurred	$	16,108	$	13,377	$	5,318
Capitalized internally developed software costs	30,609		23,846		13,082
Research and development spend, inclusive of capitalized internally developed software cost	$	46,717	$	37,223	$	18,400

Our research and development costs reflect certain payroll-related costs of employees directly associated with such activities and certain software subscription costs, which are included in personnel costs and other operating expenses, respectively, in the consolidated statements of operations. Capitalized internally developed software and acquired software costs are included in fixed assets, net in the consolidated balance sheets.

Segment information - Narrative (Details)	12 Months Ended
Segment information - Narrative (Details)	Dec. 31, 2022 USD ($) state segment branch	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	2
Number of states operated in \| state	45
Goodwill	$ 46,280,000	$ 111,487,000
Acquired goodwill	0	0
Goodwill adjustments	0	0
Goodwill impairment	$ 65,207,000	0	$ 0
Distribution
Segment Reporting Information [Line Items]
Number of branches \| branch	91
Number of states operated in \| state	8
Goodwill	$ 22,867,000	88,074,000
Goodwill impairment	65,207,000	0	0
Underwriting
Segment Reporting Information [Line Items]
Goodwill	23,413,000	23,413,000
Goodwill impairment	$ 0	$ 0	$ 0
Underwriting \| Minimum
Segment Reporting Information [Line Items]
Premium percentage retained	82.00%
Underwriting \| Maximum
Segment Reporting Information [Line Items]
Premium percentage retained	84.00%

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Summary of Lease Cost

The components of our operating leases were as follows:


	For the year ended December 31, 2022
Components of lease expense:
Operating lease expense	$	12,119
Less sublease income	(304)
Net lease expense	$	11,815

Cash flow information related to leases:
Operating cash outflow from operating leases during the year ended December 31, 2022	$	11,186


	December 31, 2022
Right-of-use assets obtained during the year ended December 31, 2022 in exchange for new operating lease liabilities	$	10,371
Weighted average remaining lease term	4.05 years
Weighted average discount rate	10		%

Summary of Operating Lease Maturities


Maturities of lease liabilities:	December 31, 2022
2023	$	9,731
2024	8,386
2025	6,205
2026	4,681
2027	3,231
Thereafter	1,304
Total lease payments	33,538
Less imputed interest	(6,049)
Lease liabilities	$	27,489

Subsequent events	12 Months Ended
Subsequent events	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent events	Subsequent eventsIn the preparation of the accompanying consolidated financial statements, the Company has evaluated all material subsequent events or transactions that occurred after the balance sheet date through the date on which the financial statements were issued for potential recognition or disclosure in the Company’s financial statements, noting no subsequent events or transactions that require disclosure.

Investments and fair value measurements - Summary of Mortgage Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Net Investment Income [Line Items]
Mortgage loans	$ 297	$ 2,022
Cost
Net Investment Income [Line Items]
Mortgage loans	297	2,022
Estimated Fair Value
Net Investment Income [Line Items]
Mortgage loans	$ 297	$ 2,022

Debt	12 Months Ended
Debt	Dec. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt Senior secured credit agreement On December 31, 2020, Old Doma executed a loan and security agreement with Hudson Structured Capital Management Ltd. (“HSCM”) providing for a $150.0 million senior secured term loan (“Senior Debt”) that was funded by the lenders, which are affiliates of HSCM, on January 29, 2021 (“Funding Date”). The Senior Debt matures five years from the Funding Date. Under the agreement, the Senior Debt will bear interest of 11.25% per annum, 5.0% of which will be paid on a current cash basis and the remainder to accrue and be added to the outstanding principal balance. Interest shall be compounded quarterly. If at any time Old Doma (now known as States Title) is in an event of default under the Senior Debt, outstanding amounts shall bear interest at the default interest rate of 15.00%. Upon funding, Old Doma issued penny warrants to affiliates of HSCM equal to 1.35% of Old Doma’s fully diluted shares. The warrants were net exercised on the Closing Date and such affiliates of HSCM received the right to receive approximately 4.2 million shares of our common stock. The Senior Debt is secured by a first-priority pledge and security interest in substantially all of the assets (tangible and intangible) of our wholly owned subsidiary States Title (which represent substantially all of our assets) and any of its existing and future domestic subsidiaries (in each case, subject to customary exclusions, including the exclusion of regulated insurance company subsidiaries). States Title is subject to customary affirmative, negative and financial covenants, including, among other things, minimum liquidity of $20.0 million (as of the last day of any month), minimum consolidated annual revenue of $130.0 million, limits on the incurrence of indebtedness, restrictions on asset sales outside the ordinary course of business and material acquisitions, limitations on dividends and other restricted payments. States Title was in compliance with the Senior Debt covenants as of December 31, 2022. The Senior Debt also includes customary events of default for facilities of this type and provides that, if an event of default occurs and is continuing, the Senior Debt will amortize requiring regular payments on a straight-line basis over the subsequent 24-month calendar period, but not to extend beyond the maturity date. The estimated fair value of the Senior Debt at December 31, 2022 was $160.6 million. No active or observable market exists for the Senior Debt and as a result this is a Level 3 fair value measurement. Therefore, the estimated fair value of the Senior Debt is based on the income valuation approach, which is a valuation technique that converts future amounts (for example, cash flows or income and expenses) to a single current (that is, discounted) amount.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (SX 210.4-08(c))
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-Name Accounting Standards Codification
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+ Details

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Audit Information [Abstract]
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Miami, Florida

Investments and fair value measurements - Summary of Available-for-Sale Debt Securities Maturity (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Amortized Cost
One year or less	$ 0
After one year through five years	59,191
Total	$ 59,191
Amortized Cost, Percent of Total
One year or less	0.00%
After one year through five years	100.00%
Total	100.00%
Fair Value
One year or less	$ 0
After one year through five years	58,254
Total	$ 58,254
Fair Value, Percent of Total
One year or less	0.00%
After one year through five years	100.00%
Total	100.00%

Revenue recognition (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Disaggregation of Revenue [Line Items]

Net premiums earned

^[1]

$ 385,253

$ 475,352

$ 345,608

Escrow, title-related and other fees

52,008

79,585

61,275

Total other revenues

2,920

3,106

2,931

Total revenues

440,181

558,043

409,814

Eliminations

Disaggregation of Revenue [Line Items]

Net premiums earned

(976)

Escrow, title-related and other fees

(57,411)

(101,004)

(70,414)

Total other revenues

Total revenues

(57,411)

(101,980)

(70,414)

Underwriting | Operating Segments

Disaggregation of Revenue [Line Items]

Net premiums earned

385,253

476,328

345,608

Escrow, title-related and other fees

2,692

3,520

2,099

Interest and investment income

2,558

1,952

2,086

Realized gains and losses, net

(56)

949

146

Total other revenues

2,502

2,901

2,232

Total revenues

390,447

482,749

349,939

Distribution | Operating Segments

Disaggregation of Revenue [Line Items]

Net premiums earned

Escrow, title-related and other fees

106,727

177,069

129,590

Interest and investment income

727

230

325

Realized gains and losses, net

(309)

(25)

374

Total other revenues

418

205

699

Total revenues

107,145

177,274

130,289

Direct Agents title insurance premiums | Eliminations

Disaggregation of Revenue [Line Items]

Net premiums earned

(976)

Direct Agents title insurance premiums | Underwriting | Operating Segments

Disaggregation of Revenue [Line Items]

Net premiums earned

67,743

119,236

81,420

Third-Party Agent title insurance premiums | Underwriting | Operating Segments

Disaggregation of Revenue [Line Items]

Net premiums earned

317,510

357,092

264,188

Escrow fees | Distribution | Operating Segments

Disaggregation of Revenue [Line Items]

Escrow, title-related and other fees

37,106

61,005

41,438

Disaggregation of Revenue [Line Items]

Escrow, title-related and other fees

(57,411)

(101,004)

(70,414)

Disaggregation of Revenue [Line Items]

Escrow, title-related and other fees

2,692

3,520

2,099

Disaggregation of Revenue [Line Items]

Escrow, title-related and other fees

$ 69,621

$ 116,064

$ 88,152

[1]	Net premiums written includes revenues from a related party of $134.9 million, $114.2 million, and $88.6 million for the years ended December 31, 2022, 2021, and 2020, respectively (see Note 14 to our consolidated financial statements).

Regulation and statutory financial information	12 Months Ended
Regulation and statutory financial information	Dec. 31, 2022
Insurance [Abstract]
Regulation and statutory financial information	Regulation and statutory financial information Effective December 31, 2020, States Title Insurance Company of California and States Title Insurance Company were merged into NATIC, and the three combined entities were re-domiciled to South Carolina. NATIC has since been renamed Doma Title Insurance, Inc. (“DTI”). The Company’s insurance business, DTI, and its agency businesses are subject to extensive regulation under applicable state laws. DTI is subject to a holding company act in its state of domicile which regulates, among other matters, the ability to pay dividends and enter into transactions with affiliates. The laws of most states in which the Company transacts business establish supervisory agencies with broad administrative powers relating to issuing and revoking licenses to transact business, regulating trade practices, licensing agents, approving title insurance policy forms, accounting practices, financial practices, establishing reserve and capital and surplus as regards to policyholders (“capital and surplus”) requirements, defining suitable investments for reserves and capital and surplus and approving rate schedules. The process of state regulation of changes in rates ranges from states which set rates, to states where individual companies or associations of companies prepare rate filings which are submitted for approval, to a few states in which rate changes do not need to be filed for approval. Since we are regulated by both state and federal governments and the applicable insurance laws and regulations are constantly subject to change, it is not possible to predict the potential effects on our insurance operations of any laws or regulations that may become more restrictive in the future or if new restrictive laws will be enacted. Our insurance subsidiaries are subject to regulations that restrict their ability to pay dividends or make other distributions of cash or property to their immediate parent company without prior approval from the Departments of Insurance of their respective states of domicile. As of December 31, 2022, $57.9 million of our statutory net assets are restricted from dividend payments without prior approval from the Departments of Insurance of their respective states of domicile. During 2023, our title insurance subsidiary can pay or make distributions to us of approximately $13.9 million, without prior approval. The statutory capital and surplus of DTI was approximately $57.9 million and $45.3 million as of December 31, 2022 and 2021, respectively. The statutory net income of DTI was $13.9 million and $20.2 million for the years ended December 31, 2022 and 2021, respectively. Pursuant to statutory requirements of the various states in which our insurers are domiciled, such insurers must maintain certain levels of minimum capital and surplus. Required levels of minimum capital and surplus are not significant to the insurers individually or in the aggregate. Each of our insurers has complied with the minimum statutory requirements as of December 31, 2022. There are no other restrictions on our retained earnings regarding our ability to pay dividends to stockholders although there are limits on the ability of certain subsidiaries to pay dividends to us, as described above.

Investments and fair value measurements -Summary of Available-for-Sale Debt Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Cost Basis	$ 59,191	$ 0
Unrealized Gains	0	0
Unrealized Losses	(937)	0
Fair Value	58,254	0
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Cost Basis	27,251	0
Unrealized Gains	0	0
Unrealized Losses	(363)	0
Fair Value	26,888	0
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Cost Basis	30,467	0
Unrealized Gains	0	0
Unrealized Losses	(544)	0
Fair Value	29,923	0
Foreign government securities
Debt Securities, Available-for-sale [Line Items]
Cost Basis	1,473	0
Unrealized Gains	0	0
Unrealized Losses	(30)	0
Fair Value	$ 1,443	$ 0

Research and Development (Tables)

12 Months Ended

Dec. 31, 2022

Research and Development [Abstract]

Summary of Research and Development Expenses

For the years ended December 31, 2022, 2021, and 2020, the Company recorded the following related to research and development expenses and capitalized internally developed software costs:


	Year ended December 31,
	2022		2021		2020
Research and development expenses incurred	$	16,108	$	13,377	$	5,318
Capitalized internally developed software costs	30,609		23,846		13,082
Research and development spend, inclusive of capitalized internally developed software cost	$	46,717	$	37,223	$	18,400

Stockholders’ equity	12 Months Ended
Stockholders’ equity	Dec. 31, 2022
Equity [Abstract]
Stockholders’ equity	Stockholders’ equity Common stock Holders of common stock are entitled to one vote for each share held. Common stock is entitled to receive dividends when, and if, declared by the board of directors. On July 29, 2021, the Company’s common stock and Public Warrants began trading on the New York Stock Exchange under the ticker symbols “DOMA” and “DOMA.WS,” respectively. Pursuant to the Company’s certificate of incorporation, the Company is authorized to issue 2,000,000,000 shares of common stock with a par value of $0.0001 per share. Prior to the Business Combination, Old Doma had outstanding shares of Series A, Series A-1, Series A-2, Series B, and Series C convertible preferred stock (collectively, “ Old Doma Preferred Stock”). Immediately prior to the Business Combination, all shares of outstanding Old Doma Preferred Stock converted into a total of 212.0 million shares of our common stock with the application of the Exchange Ratio as discussed in Note 3. Preferred stock Pursuant to the Company’s certificate of incorporation, the Company is authorized to issue 100,000,000 shares of preferred stock having a par value of $0.0001 per share (the “preferred stock”). The Company’s board of directors has the authority to issue preferred stock and to determine the rights, preferences, privileges and restrictions, including voting rights, of those shares. As of December 31, 2022, there were no shares of preferred stock issued and outstanding.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Stock compensation expense (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Weighted-Average Assumptions

Following are the weighted average assumptions utilized in the valuation of stock options issued:


	Year ended December 31,
	2021		2020
Volatility	48.5	%	38.0	%
Dividend yield	0.0	%	0.0	%
Expected term (years)	6.2		6.1
Risk free rate	0.7	%	0.8	%

Summary of Stock Option Activity

The Company had the following stock option activity:


	Number of Stock Options	Weighted Average Exercise Price ($)		Weighted Average Remaining Contractual Life (In years)	Aggregate Intrinsic Value ($)
Outstanding as of December 31, 2021	24,255,204	0.51		7.91	$	109,061
Granted	—	—		0.00
Exercised	(2,094,653)	0.52		3.32
Cancelled or forfeited	(4,570,023)	0.63		1.67
Outstanding as of December 31, 2022	17,590,528	$	0.58	6.74	$	191

Options exercisable as of December 31, 2022	13,670,902	$	0.55	6.50	$	190

Summary of Nonvested Restricted Stock Awards

The Company had the following activity for nonvested RSA, RSU and PRSU activity:


	Number of RSAs, RSUs and PRSUs	Average Grant Date Fair Value ($)
Nonvested at December 31, 2021	18,579,930	$	6.11
Granted	51,458,080	1.51
Exercised	(4,200,188)	5.25
Adjustment for PRSUs expected to vest	(1,759,053)	5.14
Cancelled or Forfeited	(23,587,020)	3.58
Nonvested at December 31, 2022	40,491,749	$	1.87

During the year ended December 31, 2022, the Company had the following non-vested market-based award activity:


	Number of Market-based awards	Average Grant Date Fair Value ($)
Non-vested at December 31, 2021	—	$	—
Granted	2,435,325	0.32
Vested	—	—
Cancelled or Forfeited	—	—
Non-vested at December 31, 2022	2,435,325	$	0.32

Summary of Share-Based Payment Award, Valuation Assumptions

The fair value of the market-based awards was determined using a Monte Carlo simulation valuation model using a distribution of potential stock price outcomes on a daily basis over the original 4-year vesting period. The unobservable significant inputs to the valuation model at the time of award issuance were as follows:


Stock price at issuance	$	0.92
Expected volatility	75.0		%
Risk-free interest rate	3.14		%
Current expected term (years)	3.9
Expected dividend yield	—		%

Segment information - Reconciliation of Adjusted Gross Profit to Loss Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting [Abstract]
Adjusted gross profit	$ 46,848	$ 113,582	$ 91,645
Depreciation and amortization	16,019	10,321	5,815
Corporate and other expenses	240,283	205,220	114,511
Goodwill impairment	65,207	0	0
Long-lived asset impairment	32,027	0	0
Change in fair value of warrant and Sponsor Covered Shares liabilities	(21,317)	(6,691)	0
Interest expense	18,080	16,861	5,579
Loss before income taxes	$ (303,451)	$ (112,129)	$ (34,260)

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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+ Details

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

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+ Details

Employee benefit plan	12 Months Ended
Employee benefit plan	Dec. 31, 2022
Retirement Benefits [Abstract]
Employee benefit plan	Employee benefit plan The Company sponsors a defined contribution 401(k) plan for its employees (the “Retirement Savings Plan”). The Retirement Savings Plan is a voluntary contributory plan under which employees may elect to defer compensation for federal income tax purposes under Section 401(k) of the Code. All full-time employees age 18+ are eligible to enroll in the Retirement Savings Plan on their first day of employment. Company matching contributions begin upon employee enrollment in the Retirement Savings Plan. Prior to January 1, 2022, the Company provided an employer match up to 50% of the first 6% of elective contributions, and there were no matching contributions in excess of 3% of compensation. Effective January 1, 2022, the Company provides an employer match up to 100% on the first 1% of elective contributions and 50% on the next 5% of elective contributions. The maximum matching contribution is 3.5% of compensation. For the year ended December 31, 2020, the Company made contributions for the benefit of employees of $0.9 million from January 1, 2020 through May 15, 2020. The Company suspended the employer match effective May 16, 2020 and made no contributions for the benefit of employees to the Retirement Savings Plan for the rest of the year through December 31, 2020. The temporary suspension was due to the COVID-19 pandemic and its potential impact on the business, which was not estimable at the time. On January 1, 2021, the Company reinstated matching contributions to the Retirement Savings Plan, according to the aforementioned terms, rates, and limitations. For the years ended December 31, 2022 and 2021 the Company made contributions for the benefit of employees of $4.4 million and $2.6 million, respectively, to the Retirement Savings Plan.

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 440	$ 0
Available-for-sale debt securities, amortized cost	59,191	0
Provision for doubtful accounts	1,488	1,082
Accumulated depreciation	$ 24,532	$ 19,543
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	329,147,979	323,347,806
Common stock, shares outstanding (in shares)	329,147,979	323,347,806

Investments and fair value measurements - Available-for-sale Debt Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule of Held-to-maturity Securities [Line Items]
Debt securities, Available-for-sale securities, less than 12 months, fair value	$ 58,253	$ 0
Debt securities, available-for-sale, less than 12 months, unrealized loss	(937)	0
Debt securities, available-for-sale, Greater than 12 months, fair value	0	0
Debt securities, available-for-sale, Greater than 12 months, unrealized losses	0	0
Debt securities, available-for-sale, fair value	58,253	0
Debt securities, available-for-sale, unrealized losses	(937)	0
Corporate debt securities
Schedule of Held-to-maturity Securities [Line Items]
Debt securities, Available-for-sale securities, less than 12 months, fair value	26,886	0
Debt securities, available-for-sale, less than 12 months, unrealized loss	(363)	0
Debt securities, available-for-sale, Greater than 12 months, fair value	0	0
Debt securities, available-for-sale, Greater than 12 months, unrealized losses	0	0
Debt securities, available-for-sale, fair value	26,886	0
Debt securities, available-for-sale, unrealized losses	(363)	0
U.S. Treasury securities
Schedule of Held-to-maturity Securities [Line Items]
Debt securities, Available-for-sale securities, less than 12 months, fair value	29,923	0
Debt securities, available-for-sale, less than 12 months, unrealized loss	(544)	0
Debt securities, available-for-sale, Greater than 12 months, fair value	0	0
Debt securities, available-for-sale, Greater than 12 months, unrealized losses	0	0
Debt securities, available-for-sale, fair value	29,923	0
Debt securities, available-for-sale, unrealized losses	(544)	$ 0
Foreign government securities
Schedule of Held-to-maturity Securities [Line Items]
Debt securities, Available-for-sale securities, less than 12 months, fair value	1,444
Debt securities, available-for-sale, less than 12 months, unrealized loss	(30)
Debt securities, available-for-sale, Greater than 12 months, fair value	0
Debt securities, available-for-sale, Greater than 12 months, unrealized losses	0
Debt securities, available-for-sale, fair value	1,444
Debt securities, available-for-sale, unrealized losses	$ (30)

Organization and business operations (Details)	12 Months Ended
Organization and business operations (Details)	Dec. 31, 2022 state segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of states operated in \| state	45
Number of reportable segments \| segment	2

Income tax (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense

The Company’s income tax expense (benefit) is as follows:


	Year ended December 31,
	2022		2021		2020
Current:
Federal	$	—	$	—	$	—
State	179		133		144
Total current	$	179	$	133	$	144

Deferred:
Federal	$	(338)	$	147	$	101
State	(1,083)		647		598
Total deferred	$	(1,421)	$	794	$	699
Total	$	(1,242)	$	927	$	843

Schedule of Reconciliation of the Federal Income Tax Rate

A reconciliation of these differences is as follows:


	Year ended December 31,
	2022		2021		2020
Benefit calculated at federal income tax rate	21.0	%	21.0	%	21.0	%
Change in valuation allowance	(24.4)		(28.8)		(34.2)
State tax benefit	6.7		9.6		7.1
Goodwill impairment	(3.3)		—		—
Nondeductible compensation	(2.1)		(2.5)		—
Provision-to-return permanent differences	1.7		—		—
Federal benefit on state tax	—		(2.0)		(1.5)
Change in fair value of Warrant and Sponsor Covered Shares liabilities	1.4		1.2		—
Change in state tax rate	(0.8)		0.5		5.1
Other permanent differences, net	0.2		0.1		—
Income tax benefit (expense)	0.4	%	(0.9)	%	(2.5)	%

Schedule of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities consist of the following:


	December 31,
	2022		2021
Deferred tax assets:
Net operating loss	$	108,906	$	38,415
Interest expense	9,850		6,834
Intangibles assets	2,129		1,293
Stock-based compensation expense	4,379		2,688
Research and development	3,148		—
Statutory premium reserve	2,245		1,655
Other, net	1,641		11
Accrued compensation	1,393		7,892
Investments	420		458
Right-of-use assets	391		—
Allowance for doubtful accounts	265		173
Loss reserves	212		215
Debt issuance costs	43		52
Deferred lease obligation	18		423
Start-up costs	—		1,080
Total gross deferred tax assets	135,040		61,189
Less valuation allowance	(129,704)		(55,620)
Total deferred tax assets	$	5,336	$	5,569

Deferred tax liabilities:
Other reserves	$	(2,069)	$	(1,360)
Fixed assets	(1,846)		(1,441)
Title plants	(1,428)		(850)
Unrealized gain on investments	(203)		—
Intangibles assets	(140)		(3,689)
Total deferred tax liabilities	$	(5,686)	$	(7,340)
Net deferred tax liability	$	(350)	$	(1,771)

Summary of significant accounting policies - Summary of useful lives assigned to fixed assets (Details)	12 Months Ended
	Dec. 31, 2022
Furniture and equipment
Property, Plant and Equipment [Line Items]
Useful lives	5 years
Computer equipment
Property, Plant and Equipment [Line Items]
Useful lives	3 years
Acquired software \| Minimum
Property, Plant and Equipment [Line Items]
Useful lives	3 years
Acquired software \| Maximum
Property, Plant and Equipment [Line Items]
Useful lives	8 years
Internally developed software
Property, Plant and Equipment [Line Items]
Useful lives	5 years