v3.26.1
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 12,645 $ 61,355
Restricted cash 32,767 15,454
Investment securities 178,954 24,877
Accounts receivable, net of allowance of $5,284 at June 30, 2026 and $6,170 at December 31, 2025 185,876 177,037
Income tax receivable 0 6,437
Prepaid expenses 24,866 20,078
Other current assets 3,866 3,174
Total current assets 438,974 308,412
Property, plant and equipment, net 68,532 51,649
Operating lease right-of-use assets, net 9,413 12,972
Intangible assets, net 1,223,891 1,292,839
Goodwill 4,014,781 4,016,818
Deferred costs 105,063 93,951
Other long-term assets 8,107 8,459
Total assets 5,868,761 5,785,100
Current liabilities    
Accounts payable 56,219 50,949
Accrued compensation 25,904 40,942
Aggregated funds payable 32,636 15,104
Other accrued expenses 42,812 22,990
Deferred revenue 60,874 67,855
Current portion of long-term debt 14,194 14,194
Current portion of operating lease liabilities 5,083 6,029
Total current liabilities 237,721 218,063
Long-term liabilities    
Deferred tax liability 175,322 211,320
Long-term debt, net, less current portion 1,452,547 1,458,709
Operating lease liabilities, net of current portion 9,897 11,994
Deferred revenue - long-term 6,754 5,496
Other long-term liabilities 278 692
Total liabilities 1,882,519 1,906,274
Commitments and contingencies (Note 20)
Stockholders’ equity    
Preferred stock $0.01 par value - 100,000,000 and zero shares authorized as of March 31, 2026 and December 31, 2025, respectively; zero shares issued or outstanding as of March 31, 2026 and December 31, 2025, respectively 0 0
Common stock $0.01 par value - 2,500,000,000 and 227,000,000 shares authorized at March 31, 2026 and December 31, 2025, respectively; 191,685,290 and 191,587,193 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 1,926 1,916
Treasury stock, at cost (12,741) 0
Additional paid-in capital 4,020,499 3,986,353
Accumulated other comprehensive income (loss) 1,219 (632)
Accumulated deficit (24,661) (108,811)
Total stockholders’ equity 3,986,242 3,878,826
Total liabilities and stockholders’ equity 5,868,761 5,785,100
Nonrelated Party    
Current liabilities    
Current portion of long-term debt 13,398 13,537
Long-term liabilities    
Long-term debt, net, less current portion 1,376,348 1,394,523
Related Party    
Current liabilities    
Current portion of long-term debt 795 657
Long-term liabilities    
Long-term debt, net, less current portion $ 76,199 $ 64,186