Equity |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Equity [Abstract] | |
| Equity | 13. Equity Common stock held in treasury, at cost On November 9, 2021, the Company announced that the board of directors authorized a share repurchase program (the “2021 Share Repurchase Program”) pursuant to which the Company may repurchase up to $100.0 million of the Company’s Class A common stock. The 2021 Share Repurchase Program does not have an expiration date, but provides for suspension or discontinuation at any time. The 2021 Share Repurchase Program permits the repurchase of the Company’s Class A common stock on the open market and in other means from time to time. The timing and amount of any share repurchase is subject to prevailing market conditions, relevant securities laws and other considerations, and the Company is under no obligation to repurchase any specific number of shares. During the years ended December 31, 2025, 2024, and 2023, the Company executed open market purchases of $0.9 million, $34.1 million, and $6.4 million, respectively, of the Company’s Class A common stock under the 2021 Share Repurchase Program. As of December 31, 2025, there remains $46.2 million of share repurchase availability under the 2021 Share Repurchase Program. Warrants As of December 31, 2024, 11,244,988 public warrants and 7,333,333 private placement warrants were outstanding. Each whole warrant entitled the holder to purchase one whole share of the Company’s Class A common stock at an exercise price of $11.50 per share, subject to adjustment. On October 28, 2025, the Company’s public and private placement warrants expired in accordance with their contractual terms. As of the expiration date, the warrants had no intrinsic value and a fair value of zero. Accordingly, the Company had no liability balance related to the warrants as of December 31, 2025. Deconsolidation of ASL As part of the deconsolidation of ASL, the $108.9 million noncontrolling interest was derecognized as reflected in the Consolidated Statements of Stockholders’ Equity. |