v3.25.2
Condensed Consolidated Statements of Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Member's Equity
Common Stock
Additional Paid-in Capital
Retained Earnings (Accumulated Deficit)
Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Dec. 31, 2023 $ 418,141 $ 418,141        
Net income 2,249 2,249        
Stock-based compensation 87 87        
Cumulative translation adjustments, net of tax 168 168        
Ending Balance at Mar. 31, 2024 420,645 420,645        
Beginning Balance at Dec. 31, 2023 418,141 418,141        
Net income 9,890          
Ending Balance at Jun. 30, 2024 758,440   $ 897 $ 790,397 $ (32,901) $ 47
Ending Balance, shares at Jun. 30, 2024     89,704      
Beginning Balance at Mar. 31, 2024 420,645 420,645        
Net income 7,641       7,641  
Stock-based compensation 1,926     1,926    
Cumulative translation adjustments, net of tax 36         36
Stock-based compensation prior to Corporate Conversion 1,111 1,111        
Reclassification of members equity upon Corporate Conversion   40,531     (40,542) 11
Effect of the Corporate Conversion   $ (462,287) $ 770 461,517    
Effect of the Corporate Conversion, shares     77,000      
Issuance of common stock sold in initial public offering, net of offering costs 325,731   $ 126 325,605    
Issuance of common stock sold in initial public offering, net of offering costs, shares     12,650      
Issuance of common stock to directors under the 2024 Equity Incentive Plan 1,350   $ 1 1,349    
Issuance of common stock to Directors under the 2024 Equity Incentive Plan, Shares     54      
Ending Balance at Jun. 30, 2024 758,440   $ 897 790,397 (32,901) 47
Ending Balance, shares at Jun. 30, 2024     89,704      
Beginning Balance at Dec. 31, 2024 1,088,505   $ 936 1,108,225 (20,560) (96)
Beginning Balance, shares at Dec. 31, 2024     93,556      
Net income 15,316       15,316  
Stock-based compensation 3,089     3,089    
Cumulative translation adjustments, net of tax (256)         (256)
Ending Balance at Mar. 31, 2025 1,106,654   $ 936 1,111,314 (5,244) (352)
Ending Balance, shares at Mar. 31, 2025     93,556      
Beginning Balance at Dec. 31, 2024 1,088,505   $ 936 1,108,225 (20,560) (96)
Beginning Balance, shares at Dec. 31, 2024     93,556      
Net income 32,029          
Ending Balance at Jun. 30, 2025 1,128,733   $ 936 1,116,823 11,469 (495)
Ending Balance, shares at Jun. 30, 2025     93,622      
Beginning Balance at Mar. 31, 2025 1,106,654   $ 936 1,111,314 (5,244) (352)
Beginning Balance, shares at Mar. 31, 2025     93,556      
Net income 16,713       16,713  
Stock-based compensation 3,650     3,650    
Exercise of stock options 1,859     1,859    
Exercise of stock options, shares     66      
Cumulative translation adjustments, net of tax (143)         (143)
Ending Balance at Jun. 30, 2025 $ 1,128,733   $ 936 $ 1,116,823 $ 11,469 $ (495)
Ending Balance, shares at Jun. 30, 2025     93,622