v3.25.2
Taxation (Tables)
 6 Months Ended
Jun. 30, 2025
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation For the six months ended June 30, 2025 and 2024, income tax expense reflected in the Condensed Consolidated Statements of Operations differs from the tax computed by applying the statutory U.S. federal rate of 21% to "Income before income tax expense" as follows:
Six months ended June 30,
20252024
in thousands (except percentages)
Income tax expense at statutory rate$18,091 21 %$12,977 21 %
State taxes917 1 %259 — %
(Income) loss not subject to entity-level taxes(4,711)(5)%(3,382)(5)%
Foreign rate differential468 1 %(156)— %
Change in valuation allowance(1,234)(1)%(738)(1)%
(Gain) loss related to warrant liabilities, net— — %1,697 3 %
Permanent items32 — %346 1 %
Effect of changes in tax rates(1,236)(1)%— — %
Other, net(677)(1)%(63)— %
Income tax expense$11,650 15 %$10,940 18 %