v3.25.2
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 56,390 $ 16,848
Restricted cash 10,898 12,824
Trade accounts receivable, net 123,579 89,758
Prepaid expenses 26,241 20,493
Prepaid taxes 0 6,747
Unbilled Independent Dispute Resolution fees, net 18,993 21,850
Other current assets, net 11,037 6,995
Total current assets 247,138 175,515
Property and equipment, net 308,358 292,649
Operating lease right-of-use assets 15,056 16,097
Goodwill 2,403,140 2,403,140
Other intangibles, net 2,054,381 2,226,323
Other assets, net 43,907 37,103
Total assets 5,071,980 5,150,827
Current liabilities:    
Accounts payable 43,431 86,327
Accrued interest 100,254 55,532
Accrued taxes 10,909 0
Operating lease obligation, short-term 4,466 4,385
Current portion of long-term debt 14,690 13,250
Accrued compensation 37,982 33,690
Other accrued expenses 41,410 20,606
Total current liabilities 253,142 213,790
Long-term debt 4,533,078 4,509,725
2025 revolving credit facility 80,000 0
Operating lease obligation, long-term 17,207 13,857
Private Placement Warrants and Unvested Founder Shares 0 0
Deferred income taxes 225,877 325,834
Other liabilities 2,584 3,599
Total liabilities 5,111,888 5,066,805
Commitments and contingencies (Note 7)
Shareholders’ equity:    
Preferred stock, $0.0001 par value — 10,000,000 shares authorized; no shares issued 0 0
Common stock, $0.0001 par value — 1,500,000,000 shares authorized; 17,214,985 and 16,930,827 issued; 16,472,126 and 16,187,968 shares outstanding as of June 30, 2025 and December 31, 2024, respectively 2 2
Additional paid-in capital 2,383,854 2,372,954
Accumulated other comprehensive loss (5,934) (5,063)
Retained deficit (2,279,097) (2,145,138)
Treasury stock — 742,859 and 742,859 shares (138,733) (138,733)
Total shareholders’ equity (39,908) 84,022
Total liabilities and shareholders’ equity $ 5,071,980 $ 5,150,827