v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Treasury Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Loss
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2024   169,426,114        
Beginning balance at Dec. 31, 2024 $ 1,157,270 $ 17 $ (127,827) $ 1,911,035 $ (39,232) $ (586,723)
Beginning balance (in shares) at Dec. 31, 2024     21,603,481      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock-based compensation 2,671     2,671    
Shares issued related to founders advisory fees - related party (in shares)   1,837,304        
Shares repurchased (in shares)     888,454      
Shares repurchased (8,183)   $ (8,183)      
Shares issued upon exercise of options (in shares)   4,100        
Shares issued upon exercise of options 41     41    
Net income (loss) 56,686         56,686
Other comprehensive income (loss) 7,885       7,885  
Ending balance (in shares) at Mar. 31, 2025   171,267,518        
Ending balance at Mar. 31, 2025 1,216,370 $ 17 $ (136,010) 1,913,747 (31,347) (530,037)
Ending balance (in shares) at Mar. 31, 2025     22,491,935      
Beginning balance (in shares) at Dec. 31, 2024   169,426,114        
Beginning balance at Dec. 31, 2024 1,157,270 $ 17 $ (127,827) 1,911,035 (39,232) (586,723)
Beginning balance (in shares) at Dec. 31, 2024     21,603,481      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) 24,525          
Ending balance (in shares) at Jun. 30, 2025   171,292,585        
Ending balance at Jun. 30, 2025 1,178,631 $ 17 $ (168,197) 1,916,236 (7,227) (562,198)
Ending balance (in shares) at Jun. 30, 2025     25,378,156      
Beginning balance (in shares) at Mar. 31, 2025   171,267,518        
Beginning balance at Mar. 31, 2025 1,216,370 $ 17 $ (136,010) 1,913,747 (31,347) (530,037)
Beginning balance (in shares) at Mar. 31, 2025     22,491,935      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock-based compensation 2,238     2,238    
Shares repurchased (in shares)     2,886,221      
Shares repurchased (32,187)   $ (32,187)      
Shares issued upon exercise of options (in shares)   25,067        
Shares issued upon exercise of options 251     251    
Net income (loss) (32,161)         (32,161)
Other comprehensive income (loss) 24,120       24,120  
Ending balance (in shares) at Jun. 30, 2025   171,292,585        
Ending balance at Jun. 30, 2025 1,178,631 $ 17 $ (168,197) 1,916,236 (7,227) (562,198)
Ending balance (in shares) at Jun. 30, 2025     25,378,156      
Beginning balance (in shares) at Dec. 31, 2025   174,818,216        
Beginning balance at Dec. 31, 2025 1,133,319 $ 17 $ (168,197) 2,100,958 (6,370) (793,089)
Beginning balance (in shares) at Dec. 31, 2025     25,378,156      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock-based compensation 2,160     2,160    
Shares issued related to founders advisory fees - related party (in shares)   13,387,003        
Shares issued related to founders advisory fees - related party 0 $ 2   (2)    
Shares issued upon exercise of options (in shares)   300,000        
Shares issued upon exercise of options 3,000     3,000    
Net income (loss) 72,936         72,936
Other comprehensive income (loss) (6,566)       (6,566)  
Ending balance (in shares) at Mar. 31, 2026   188,505,219        
Ending balance at Mar. 31, 2026 1,204,849 $ 19 $ (168,197) 2,106,116 (12,936) (720,153)
Ending balance (in shares) at Mar. 31, 2026     25,378,156      
Beginning balance (in shares) at Dec. 31, 2025   174,818,216        
Beginning balance at Dec. 31, 2025 $ 1,133,319 $ 17 $ (168,197) 2,100,958 (6,370) (793,089)
Beginning balance (in shares) at Dec. 31, 2025     25,378,156      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Shares issued upon exercise of options (in shares) 879,917          
Net income (loss) $ (108,699)          
Ending balance (in shares) at Jun. 30, 2026 189,065,079 189,065,079        
Ending balance at Jun. 30, 2026 $ 1,021,618 $ 19 $ (168,197) 2,113,652 (22,068) (901,788)
Ending balance (in shares) at Jun. 30, 2026     25,378,156      
Beginning balance (in shares) at Mar. 31, 2026   188,505,219        
Beginning balance at Mar. 31, 2026 1,204,849 $ 19 $ (168,197) 2,106,116 (12,936) (720,153)
Beginning balance (in shares) at Mar. 31, 2026     25,378,156      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock-based compensation 2,888     2,888    
Shares issued upon exercise of options (in shares)   559,860        
Shares issued upon exercise of options 4,648     4,648    
Net income (loss) (181,635)         (181,635)
Other comprehensive income (loss) $ (9,132)       (9,132)  
Ending balance (in shares) at Jun. 30, 2026 189,065,079 189,065,079        
Ending balance at Jun. 30, 2026 $ 1,021,618 $ 19 $ (168,197) $ 2,113,652 $ (22,068) $ (901,788)
Ending balance (in shares) at Jun. 30, 2026     25,378,156