The following table presents the benefits recognized from AMPTC in the three and six months ended June 30, 2026 and 2025.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | | | | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | | | | | | | | (in thousands) | | | Transactions recorded to cost of revenues: | | | | | | | | | | | | AMPTC generated | $ | 71,133 | | | $ | 61,041 | | | $ | 130,945 | | | $ | 114,671 | | | | | Discount from sale of AMPTC generated during 2025(1) | — | | | — | | | (18,905) | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | Adjustments to record AMPTC generated in period at fair value | (6,211) | | | — | | | (11,431) | | | — | | | | | | Net benefit from AMPTC reducing cost of revenues | $ | 64,922 | | | $ | 61,041 | | | $ | 100,609 | | | $ | 114,671 | | | | | | | | | | | | | | | |
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