v3.25.2
Segment and Geographic Information - Summary of Revenue, Expenses and Consolidated Net Income (loss) (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting Information [Line Items]            
Revenue $ 181,937   $ 106,791   $ 308,801 $ 209,510
Provision for (benefit from) income taxes (2,347)   79   (797) (19)
Depreciation and amortization         26,752 5,491
Interest expense 13,464   1,082   14,383 2,181
Consolidated net income (loss) (24,151) $ 6,936 276 $ 2,236 (17,215) 2,511
Reportable Segment            
Segment Reporting Information [Line Items]            
Revenue 181,937   106,791   308,801 209,510
Employee compensation expense 84,786   49,932   140,610 99,496
Technology expense 13,980   8,726   23,627 16,187
Facilities expense 5,894   3,178   9,690 6,750
Outside services and contractors expense 5,267   4,146   9,290 7,634
Data costs 6,561   3,273   10,345 6,043
Provision for (benefit from) income taxes (2,347)   79   (797) (19)
Equity-based compensation expense and related payroll taxes 38,843   25,151   66,405 53,632
Tax receivable agreement expenses 0   5,915   0 6,201
Depreciation and amortization 23,606   2,941   26,752 5,491
Interest expense 13,464   1,082   14,383 2,181
Other segment items 16,034   2,092   25,711 3,403
Consolidated net income (loss) $ (24,151)   $ 276   $ (17,215) $ 2,511