v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($)
$ in Thousands
Total
Additional paid-in capital
Accumulated other comprehensive income (loss)
Common stock held in treasury
Retained earnings (loss)
Non-controlling interest
Class A common stock
Class A common stock
Common Stock
Class B common stock
Class B common stock
Common Stock
Beginning balance, shares outstanding (in shares) at Dec. 31, 2024               0   0
Beginning balance at Dec. 31, 2024 $ 631,337 $ 610,431 $ (18,753) $ 0 $ 38,489 $ 1,170   $ 0   $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income (loss) 15,646       15,061 585        
Other comprehensive income (loss) 22,364   22,364              
Ending balance, shares outstanding (in shares) at Jun. 30, 2025               0   0
Ending balance at Jun. 30, 2025 669,347 610,431 3,611 0 53,550 1,755   $ 0   $ 0
Beginning balance, shares outstanding (in shares) at Mar. 31, 2025               0   0
Beginning balance at Mar. 31, 2025 650,794 610,431 (5,174) 0 44,601 936   $ 0   $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income (loss) 9,768       8,949 819        
Other comprehensive income (loss) 8,785   8,785              
Ending balance, shares outstanding (in shares) at Jun. 30, 2025               0   0
Ending balance at Jun. 30, 2025 669,347 610,431 3,611 0 53,550 1,755   $ 0   $ 0
Beginning balance, shares outstanding (in shares) at Dec. 31, 2025               0   0
Beginning balance at Dec. 31, 2025 700,452 610,431 4,239 0 83,943 1,839   $ 0   $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income (loss) 3,875       3,448 427        
Other comprehensive income (loss) 5,600   5,600              
Ending balance, shares outstanding (in shares) at Mar. 31, 2026               0   0
Ending balance at Mar. 31, 2026 709,927 610,431 9,839 0 87,391 2,266   $ 0   $ 0
Beginning balance, shares outstanding (in shares) at Dec. 31, 2025               0   0
Beginning balance at Dec. 31, 2025 700,452 610,431 4,239 0 83,943 1,839   $ 0   $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income (loss) (1,144)                  
Other comprehensive income (loss) 3,619                  
Issuance of common stock in initial public offering, net of offering costs (in shares)               11,206,000   32,578,000
Issuance of common stock in initial public offering, net of offering costs 210,670 210,232           $ 112   $ 326
Redemption under exchange agreement with Principal Stockholders (in shares)                   (686,000)
Redemption under exchange agreement with Principal Stockholders (12,894) 631       (13,518)       $ (7)
Purchase of HMH B.V. voting shares from Principal Stockholders (39,480) (39,480)                
Effect of the Corporate Reorganization Transactions 0 (570,015) (7,296)   (64,801) 642,112        
IPO related costs (26,189) (26,189)                
TRA liability and related deferred tax impact from the Corporate Reorganization Transactions (6,522) (6,522)                
Share-based compensation (in shares)               837,000    
Share-based compensation 22,775 6,045       16,722   $ 8    
Purchase of treasury stock (4,888)     (4,888)            
Ending balance, shares outstanding (in shares) at Jun. 30, 2026             12,042,625 12,043,000 31,891,652 31,892,000
Ending balance at Jun. 30, 2026 846,399 185,133 2,011 (4,888) 27,566 636,138   $ 120   $ 319
Beginning balance, shares outstanding (in shares) at Mar. 31, 2026               0   0
Beginning balance at Mar. 31, 2026 709,927 610,431 9,839 0 87,391 2,266   $ 0   $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income (loss) (5,019)       4,976 (9,995)        
Other comprehensive income (loss) (1,981)   (532)     (1,449)        
Issuance of common stock in initial public offering, net of offering costs (in shares)               11,206,000   32,578,000
Issuance of common stock in initial public offering, net of offering costs 210,670 210,232           $ 112   $ 326
Redemption under exchange agreement with Principal Stockholders (in shares)                   (686,000)
Redemption under exchange agreement with Principal Stockholders (12,894) 631       (13,518)       $ (7)
Purchase of HMH B.V. voting shares from Principal Stockholders (39,480) (39,480)                
Effect of the Corporate Reorganization Transactions 0 (570,015) (7,296)   (64,801) 642,112        
IPO related costs (26,189) (26,189)                
TRA liability and related deferred tax impact from the Corporate Reorganization Transactions (6,522) (6,522)                
Share-based compensation (in shares)               837,000    
Share-based compensation 22,775 6,045       16,722   $ 8    
Purchase of treasury stock (4,888)     (4,888)            
Ending balance, shares outstanding (in shares) at Jun. 30, 2026             12,042,625 12,043,000 31,891,652 31,892,000
Ending balance at Jun. 30, 2026 846,399 $ 185,133 $ 2,011 $ (4,888) $ 27,566 $ 636,138   $ 120   $ 319
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Redemption under exchange agreement with Principal Stockholders (in shares)             (2,100,000)   (2,100,000)  
Purchase of HMH B.V. voting shares from Principal Stockholders $ (39,500)                  
Share-based compensation (in shares)             836,781