v3.26.1
SHARE-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation and Benefits
The Company recognized total share-based compensation in Compensation and benefits on the condensed consolidated statements of operations for the following categories of awards as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Service-based RSUs$17,384 $8,109 $35,860 $16,350 
Performance-based RSUs13,142 2,384 21,714 3,275 
Total share-based compensation expense$30,526 $10,493 $57,574 $19,625 
Schedule of Unvested RSU Activity
A summary of the Company's unvested Service-Based RSU activity for the six months ended June 30, 2026 is shown below:
Number of Shares
Weighted Average Grant Date Fair Value
Unvested at December 31, 202510,642,732$3.95 
Granted3,576,449$16.82 
Vested
(3,647,802)$3.87 
Unvested at June 30, 202610,571,379$8.33 
Schedule of Grant Date Fair Value of 2025 Performance-Based RSUs
The grant date fair value of the Performance-Based RSUs was measured using a Monte Carlo simulation model based on the following assumptions:
Risk-free interest rateExpected volatility
2026 Executive Officer PSU Agreement3.60%113.1%
2025 Performance-Based RSUs4.14%111.5%