v3.26.1
Related Parties
 12 Months Ended
Dec. 31, 2025
Related Parties  
Related Parties

Note 16. Related Parties

We have multiple business arrangements with related parties which include our own employees and officers.

All related party balances as of December 31, 2025 and December 31, 2024 are summarized in the table below.

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As of

Description

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Balance sheet classification

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December 31, 2025

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December 31, 2024

Accounts receivable from employees

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Accounts receivable, net

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$

164

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$

158

Accounts receivable from officers

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Accounts receivable, net

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3

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—

Accounts receivable from related parties

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Other noncurrent assets

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167

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—

Accounts payable to related parties

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Accounts payable

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3,747

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1,506

Notes payable due to related parties (1)

 

Long-term debt

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18,201

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20,323

Real estate transaction (2)

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Financing obligations, net

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41,440

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41,468

Noncurrent liability due to related parties (3)

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Other noncurrent liabilities

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35,879

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35,879

Total related party transactions

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$

99,601

 

$

99,334

(3)As of December 31, 2025, and December 31, 2024, these balances were comprised of two notes payable with family members of certain NEOs with an interest rate of 4.0%, which are due in March 2033.
(4)This balance is comprised of the real estate transaction described in Note 2.
(5)This balance is comprised of the promissory notes described in Note 23.

In July 2024, the Company closed a real estate purchase agreement to sell and leaseback three properties for $42.5 million. The Company’s Chief Executive Officer, Frank Renda, and co-Chief Operating Officer, Rudy Renda, hold a combined 25% indirect minority interest in the entity that purchased the real estate. During the year ended December 31, 2024, the Company paid $2.0 million to this related party in accordance with the real estate purchase agreement.

We and certain of our subsidiaries enter cost sharing arrangements when such an arrangement would be operationally efficient.

The relationships between us and our related parties could result in operating results or financial positions that could differ from those that would have been obtained if the companies were autonomous.

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On March 3, 2025, Frank Renda, the Company’s President and Chief Executive Officer, agreed to provide a personal guarantee for any amounts drawn under the Delayed Draw. See Note 10 for additional information.