v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Allowance for credit loss $ 806 $ 469
Accounts receivable, after allowance for credit loss, current [1],[2] 42,636 61,806
Accounts payable, related party [1],[3] 9,631 19,004
Cash and cash equivalents [1] 133,241 24,408
Restricted cash - current [1] 926 1,210
Prepaid expense and other current assets [1] 17,615 16,018
Property, plant, and equipment, net [1] 512,546 495,634
Restricted cash - non-current [1] 2,807 2,700
Total assets of consolidated VIEs [1] 1,060,602 959,469
Loan, current portion [1] 19,473 15,062
Accrued expenses and other current liabilities [1] 62,890 63,857
Loans, net of debt issuance costs [1] 427,698 337,063
Other long-term liabilities [1] 23,946 20,430
Total liabilities of consolidated VIEs [1] 548,708 461,712
Related Party    
Accounts receivable, after allowance for credit loss, current 15,327 13,318
Accounts payable, related party 3,046 8,951
Primary Beneficiary    
Cash and cash equivalents 13,105 87
Restricted cash - current 926 1,210
Prepaid expense and other current assets 156 131
Property, plant, and equipment, net 41,828 42,603
Restricted cash - non-current 2,807 2,740
Total assets of consolidated VIEs 58,822 46,809
Loan, current portion 2,394 2,457
Accrued expenses and other current liabilities 3,289 12,431
Loans, net of debt issuance costs 16,146 16,618
Other long-term liabilities 629 582
Total liabilities of consolidated VIEs 23,107 32,705
Primary Beneficiary | Related Party    
Accounts payable, related party 357 227
Primary Beneficiary | Nonrelated Party    
Accounts receivable, after allowance for credit loss, current 0 38
Accounts payable, related party $ 292 $ 390
Common Class A    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares issued (in shares) 31,993,327 30,633,161
Common stock, shares outstanding (in shares) 30,357,544 28,997,378
Class A common stock, in treasury, at cost (in shares) 1,635,783 1,635,783
Common Class B    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares issued (in shares) 121,500,000 121,500,000
Common stock, shares outstanding (in shares) 121,500,000 121,500,000
Common Class C    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares issued (in shares) 0 0
Common stock, shares outstanding (in shares) 0 0
Common Class D    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares issued (in shares) 22,899,037 22,899,037
Common stock, shares outstanding (in shares) 22,899,037 22,899,037
[1] Includes amounts related to consolidated VIEs, which are presented separately in the table below.
[2] Includes related‑party amounts of $15,327 and $13,318 as of March 31, 2026 and December 31, 2025, respectively.
[3] Includes related‑party amounts of $3,046 and $8,951 as of March 31, 2026 and December 31, 2025, respectively.