v3.25.4
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (DEFICIT) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Common Class A
Common Class A
Common Stock
Common Class B
Common Class B
Common Stock
Beginning balance (in shares) at Mar. 31, 2024             165,160,216   1,451,303
Beginning balance at Mar. 31, 2024 $ 368,754   $ 1,562,204 $ (1,195,361) $ 245   $ 1,652   $ 14
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) (9,447)     (9,447)          
Other comprehensive income (loss), net of tax (1,205)       (1,205)        
Ending balance (in shares) at Jun. 30, 2024             165,160,216   1,451,303
Ending balance at Jun. 30, 2024 358,102   1,562,204 (1,204,808) (960)   $ 1,652   $ 14
Beginning balance (in shares) at Mar. 31, 2024             165,160,216   1,451,303
Beginning balance at Mar. 31, 2024 368,754   1,562,204 (1,195,361) 245   $ 1,652   $ 14
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 71,028                
Other comprehensive income (loss), net of tax (3,312)                
Ending balance (in shares) at Dec. 31, 2024             165,160,216   1,451,303
Ending balance at Dec. 31, 2024 436,470   1,562,204 (1,124,333) (3,067)   $ 1,652   $ 14
Beginning balance (in shares) at Jun. 30, 2024             165,160,216   1,451,303
Beginning balance at Jun. 30, 2024 358,102   1,562,204 (1,204,808) (960)   $ 1,652   $ 14
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 133,403     133,403          
Other comprehensive income (loss), net of tax 947       947        
Ending balance (in shares) at Sep. 30, 2024             165,160,216   1,451,303
Ending balance at Sep. 30, 2024 492,452   1,562,204 (1,071,405) (13)   $ 1,652   $ 14
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) (52,928)     (52,928)          
Other comprehensive income (loss), net of tax (3,054)       (3,054)        
Ending balance (in shares) at Dec. 31, 2024             165,160,216   1,451,303
Ending balance at Dec. 31, 2024 $ 436,470   1,562,204 (1,124,333) (3,067)   $ 1,652   $ 14
Beginning balance (in shares) at Mar. 31, 2025 0         165,160,216 165,160,216 1,451,303 1,451,303
Beginning balance at Mar. 31, 2025 $ 280,244   1,562,204 (1,281,200) (2,426)   $ 1,652   $ 14
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 502     502          
Other comprehensive income (loss), net of tax 2,515       2,515        
Ending balance (in shares) at Jun. 30, 2025             165,160,216   1,451,303
Ending balance at Jun. 30, 2025 $ 283,261   1,562,204 (1,280,698) 89   $ 1,652   $ 14
Beginning balance (in shares) at Mar. 31, 2025 0         165,160,216 165,160,216 1,451,303 1,451,303
Beginning balance at Mar. 31, 2025 $ 280,244   1,562,204 (1,281,200) (2,426)   $ 1,652   $ 14
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 85,587                
Other comprehensive income (loss), net of tax $ 2,254                
Ending balance (in shares) at Dec. 31, 2025 191,001,519 191,001,519              
Ending balance at Dec. 31, 2025 $ 775,342 $ 1,910 1,969,217 (1,195,613) (172)        
Beginning balance (in shares) at Jun. 30, 2025             165,160,216   1,451,303
Beginning balance at Jun. 30, 2025 283,261   1,562,204 (1,280,698) 89   $ 1,652   $ 14
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 105,284     105,284          
Other comprehensive income (loss), net of tax (549)       (549)        
Conversion of Class A and Class B Common Stock to Common Stock (in shares)   166,611,519         (165,160,216)   (1,451,303)
Conversion of Class A and Class B Common Stock to Common Stock 0 $ 1,666         $ (1,652)   $ (14)
Issuance of Common Stock in Initial Public Offering, net of offering costs (in shares)   24,390,000              
Issuance of Common Stock in Initial Public Offering, net of offering costs 375,520 $ 244 375,276            
Stock-based compensation expense 31,076   31,076            
Ending balance (in shares) at Sep. 30, 2025   191,001,519              
Ending balance at Sep. 30, 2025 794,592 $ 1,910 1,968,556 (1,175,414) (460)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) (20,199)     (20,199)          
Other comprehensive income (loss), net of tax 288       288        
Stock-based compensation expense $ 661   661            
Ending balance (in shares) at Dec. 31, 2025 191,001,519 191,001,519              
Ending balance at Dec. 31, 2025 $ 775,342 $ 1,910 $ 1,969,217 $ (1,195,613) $ (172)