v3.26.1
Condensed Consolidated Statements of Shareholders' Equity and Mezzanine Shareholders' Equity (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Total
Class A Common Stock
Class B Common Stock
Total Shareholders' Equity
Common Stock
Class A Common Stock
Common Stock
Class B Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Non-controlling Interests - Mezzanine Equity
Common stock, beginning balance (in shares) at Dec. 31, 2024         76,760 139,691        
Equity, beginning balance at Dec. 31, 2024       $ 655,604 $ 8 $ 14 $ 771,594 $ 32 $ (116,044) $ 1,506,584
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Redemption of Common Stock (in shares)         300 300        
Remeasurement adjustment to redeemable non-controlling interest resulting from ownership changes       1,503     1,503     (1,503)
Increase in Tax Receivable Agreement liability from qualifying exchanges, net of deferred taxes       (343)     (343)      
Unrealized gain (loss) on investments       6       6   10
Share-based compensation (in shares)         3 1,175        
Share-based compensation       1,199     1,199     9,053
Adjustment of redeemable non-controlling interest to book value       98,592     98,592     (98,592)
Net loss $ (373,586)     (119,350)         (119,350) (254,236)
Common stock, ending balance (in shares) at Mar. 31, 2025         77,063 140,566        
Equity, ending balance at Mar. 31, 2025       637,211 $ 8 $ 14 872,545 38 (235,394) 1,161,316
Common stock, beginning balance (in shares) at Dec. 31, 2025   83,980 138,730   83,980 138,730        
Equity, beginning balance at Dec. 31, 2025 203,904     203,904 $ 8 $ 14 898,425 129 (694,672) 331,301
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Redemption of Common Stock (in shares)         3,872 3,872        
Redemption of Common Stock       1 $ 1          
Issuance of Class A Common Stock (in shares)         65          
Issuance of Class A Common Stock       160     160      
Remeasurement adjustment to redeemable non-controlling interest resulting from ownership changes       8,600     8,600     (8,600)
Unrealized gain (loss) on investments       (128)       (128)   (207)
Share-based compensation (in shares)         127 1,520        
Share-based compensation       2,645     2,645     6,011
Net loss (25,810)     (9,857)         (9,857) (15,953)
Common stock, ending balance (in shares) at Mar. 31, 2026   88,044 136,378   88,044 136,378        
Equity, ending balance at Mar. 31, 2026 $ 205,325     $ 205,325 $ 9 $ 14 $ 909,830 $ 1 $ (704,529) $ 312,552