v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Ordinary shares
Cumulative effect, period of adoption, adjusted balance
Ordinary shares
Additional paid-in capital
Cumulative effect, period of adoption, adjusted balance
Additional paid-in capital
Treasury stock
Cumulative effect, period of adoption, adjusted balance
Treasury stock
Accumulated other comprehensive income/(loss)
Cumulative effect, period of adoption, adjusted balance
Accumulated other comprehensive income/(loss)
Accumulated deficit
Cumulative effect of accounting change
Accumulated deficit
Cumulative effect, period of adoption, adjusted balance
Accumulated deficit
Cumulative effect of accounting change
Cumulative effect, period of adoption, adjusted balance
Total
Beginning Balance at Dec. 31, 2022 $ 29 $ 29 $ 1,584,764 $ 1,584,764 $ (86,438) $ (86,438) $ (22,115) $ (22,115) $ (460) $ (514,533) $ (514,073) $ (460) $ 961,707 $ 962,167
Beginning Balance (in shares) at Dec. 31, 2022 578,546,560 578,546,560                        
Beginning Balance (in shares) at Dec. 31, 2022         (25,596,331) (25,596,331)                
CHANGES IN SHAREHOLDERS' EQUITY                            
Repurchase of ordinary shares           $ (2,254)               (2,254)
Repurchase of ordinary shares (in share)           (1,200,794)                
Exercise of share option and vested restricted share unit       (27,361)   $ 28,548               1,187
Exercise of share option and vested restricted share unit (in shares)           6,047,833                
Cancellation of Treasury stock       (6,514)   $ 6,514                
Cancellation of Treasury stock (in shares)   (3,953,961)       3,953,961                
Net (loss)/profit                     (60,315)     (60,315)
Fair value change of long-term investment               (7,791)           (7,791)
Transfer out of fair value changes of long-term investments               15,537           15,537
Foreign currency translation adjustment               (2,722)           (2,722)
Share-based compensation       65,216                   65,216
Ending Balance at Dec. 31, 2023   $ 29   1,616,105   $ (53,630)   (17,091)     (574,848)     970,565
Ending Balance (in shares) at Dec. 31, 2023   574,592,599                        
Ending Balance (in shares) at Dec. 31, 2023           (16,795,331)                
CHANGES IN SHAREHOLDERS' EQUITY                            
Repurchase of ordinary shares                           (385)
Repurchase of ordinary shares           $ (385)                
Repurchase of ordinary shares (in share)           (223,773)                
Exercise of share option and vested restricted share unit       (38,121)   $ 38,289               168
Exercise of share option and vested restricted share unit (in shares)           8,233,393                
Net (loss)/profit                     4,997     4,997
Fair value change of long-term investment               14           14
Transfer out of fair value changes of long-term investments               (65)           (65)
Foreign currency translation adjustment               (2,574)           (2,574)
Share-based compensation       67,750                   67,750
Dividend       (33,022)                   (33,022)
Ending Balance at Dec. 31, 2024   $ 29   1,612,712   $ (15,726)   (19,716)     (569,851)     $ 1,007,448
Ending Balance (in shares) at Dec. 31, 2024   574,592,599                        
Ending Balance (in shares) at Dec. 31, 2024           (8,785,711)               8,785,711
CHANGES IN SHAREHOLDERS' EQUITY                            
Repurchase of ordinary shares                           $ (12)
Repurchase of ordinary shares           $ (12)                
Repurchase of ordinary shares (in share)           (5,400)                
Exercise of share option and vested restricted share unit       (15,341)   $ 15,343               2
Exercise of share option and vested restricted share unit (in shares)           45,481,327                
Cancellation of Treasury stock       (397)   $ 385               (12)
Cancellation of Treasury stock (in shares)   (223,773)       223,773                
Net (loss)/profit                     57,890     57,890
Fair value change of long-term investment               115           115
Foreign currency translation adjustment               4,759           4,759
Share-based compensation       22,263                   22,263
Issue of new shares   $ 2       $ (2)                
Issuance of ordinary shares upon Initial Public Offering and related over-allotment option, net of cost of issuance (in shares)   37,159,350       (37,159,350)                
Dividend       (69,848)                   (69,848)
Ending Balance at Dec. 31, 2025   $ 31   $ 1,549,389   $ (12)   $ (14,842)     $ (511,961)     $ 1,022,605
Ending Balance (in shares) at Dec. 31, 2025   611,528,176                        
Ending Balance (in shares) at Dec. 31, 2025           (245,361)               245,361