v3.26.1
Consolidated Statements of Equity (Deficit) - USD ($)
$ in Thousands
Preferred stock
Common stock
AOCI
Additional Paid-In Capital
Accumulated Deficit
Noncontrolling Interest
Total
Beginning balance at Dec. 31, 2022 $ 24,400 $ 4 $ (2,576) $ 284,569   $ 10,446 $ 316,843
Beginning balance (shares) at Dec. 31, 2022 24,400,000 44,407,831          
Preferred stock repurchase and dividends $ (24,400)     (50,129)   (22) (74,551)
Preferred stock repurchase and dividends (in shares) (24,400,000)            
Issuance of post-merger earnout shares   $ 1   34,999     35,000
Issuance of post-merger earnout shares (in shares)   3,448,283          
Issuance of shares - RSUs, net of tax (in shares)   35,870          
Distributions to members           (110) (110)
Share-based compensation       891     891
Net income (loss)         $ (19,253) 538 (18,715)
Other comprehensive income (loss)     1,116     90 1,206
Ending balance at Dec. 31, 2023   $ 5 (1,460) 270,330 (19,253) 10,942 260,564
Ending balance (shares) at Dec. 31, 2023   47,891,984          
Issuance of shares - RSUs, net of tax       (206)     (206)
Issuance of shares - RSUs, net of tax (in shares)   213,528          
Issuance of common stock       20,000     20,000
Issuance of common stock (in shares)   5,830,899          
Distributions to members           (276) (276)
Share-based compensation       2,049     2,049
Capital contributions from noncontrolling interest           1,838 1,838
Net income (loss)         (105,365) (163) (105,528)
Other comprehensive income (loss)     (2,442)     (590) (3,032)
Ending balance at Dec. 31, 2024   $ 5 (3,902) 292,173 (124,618) 11,751 175,409
Ending balance (shares) at Dec. 31, 2024   53,936,411          
Issuance of shares - RSUs, net of tax       (120)     (120)
Issuance of shares - RSUs, net of tax (in shares)   176,625          
Distributions to members           (1,808) (1,808)
Share-based compensation       1,184     1,184
Net income (loss)         (306,540) (1,823) (308,363)
Other comprehensive income (loss)     884     308 1,192
Ending balance at Dec. 31, 2025   $ 5 $ (3,018) $ 293,237 $ (431,158) $ 8,428 $ (132,506)
Ending balance (shares) at Dec. 31, 2025   54,113,036