Acquisition (Tables)

6 Months Ended

Jun. 30, 2025

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of assets acquired and liabilities assumed

The assets acquired and liabilities assumed related to the Acquisition were recorded at their fair values as of the closing date of May 14, 2025, which are shown below. These amounts will be finalized no later than one year from the acquisition date (in thousands):


Fair value of assets acquired	May 14, 2025
Cash and cash equivalents	$	6,434
Current portion of restricted cash		650
Accounts receivable, net		45,897
Inventories		20,033
Other current assets		2,225
Property and equipment, net		436,543
Intangible assets, net		367,500
Goodwill		249,240
Right-of-use assets		178,913
Other assets		12,821
Total assets acquired	$	1,320,256
Fair value of liabilities assumed
Accounts payable	$	7,228
Accrued liabilities and other liabilities		15,673
Current portion of deferred revenues		4,702
Current portion of operating lease liabilities		20,315
Operating lease liabilities		153,208
Asset retirement obligations		5,514
Other long-term liabilities		58,441
Total liabilities assumed	$	265,081
Net assets acquired	$	1,055,175

Schedule of Unaudited Pro Forma Financial Information

(in thousands):


	For the three months ended June 30,								For the six months ended June 30,
	2025				2024				2025				2024
Revenues	$	253,499			$	276,170			$	667,929			$	566,047
Net income (loss)		50,928				33,754				104,682				30,918

Historical unaudited pro forma financial information was adjusted to reflect the effects of conforming accounting policies, the fair value adjustment of property and equipment, our capital structure, and eliminating historical expenses not assumed in the Acquisition. The unaudited pro forma financial information is presented for informational purposes only and is not necessarily indicative of our

results of operations that would have occurred had the transaction been consummated at the beginning of the period presented, nor is it necessarily indicative of future results.