v3.26.1
Condensed Consolidated Statements of Changes in Stockholders’ Equity (Unaudited) - USD ($)
$ in Thousands
Total
Class A
Class B
Common Stock
Class A
Common Stock
Class B
Additional Paid-in Capital
Accumulated Deficit
Noncontrolling Interests
Beginning balance (shares) at Dec. 31, 2024       122,842,000 154,255,000      
Beginning balance at Dec. 31, 2024 $ 453,120     $ 12 $ 15 $ 995,745 $ (377,077) $ (165,575)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Equity-based compensation expense 9,697         9,697    
Exercise of common share options and vested RSUs (shares)       3,091,000        
Exercise of common share options and vested RSUs 4,708         4,708    
Issuance of Class A common stock (shares)       4,549,000        
Issuance of Class A common stock 99,757     $ 1   99,756    
Exchange of combined interests for Class A common stock (shares)       3,271,000 (3,271,000)      
Rebalancing of ownership percentage between controlling and the noncontrolling interests 0         (8,340)   8,340
Net loss (68,004)           (31,646) (36,358)
Foreign income tax accrual to noncontrolling interests (416)             (416)
Ending balance (shares) at Jun. 30, 2025       133,753,000 150,984,000      
Ending balance at Jun. 30, 2025 498,862     $ 13 $ 15 1,101,566 (408,723) (194,009)
Beginning balance (shares) at Mar. 31, 2025       133,031,000 151,007,000      
Beginning balance at Mar. 31, 2025 529,486     $ 13 $ 15 1,095,062 (391,082) (174,522)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Equity-based compensation expense 5,239         5,239    
Exercise of common share options and vested RSUs (shares)       699,000        
Exercise of common share options and vested RSUs 1,746         1,746    
Exchange of combined interests for Class A common stock (shares)       23,000 (23,000)      
Rebalancing of ownership percentage between controlling and the noncontrolling interests 0         (481)   481
Net loss (37,609)           (17,641) (19,968)
Ending balance (shares) at Jun. 30, 2025       133,753,000 150,984,000      
Ending balance at Jun. 30, 2025 498,862     $ 13 $ 15 1,101,566 (408,723) (194,009)
Beginning balance (shares) at Dec. 31, 2025   318,480,601 19,413,185 318,480,000 19,414,000      
Beginning balance at Dec. 31, 2025 1,113,551     $ 32 $ 2 1,901,678 (732,871) (55,290)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Equity-based compensation expense 11,752         11,752    
Exercise of common share options and vested RSUs (shares)       2,081,000        
Exercise of common share options and vested RSUs 627         627    
Issuance of Class A common stock (shares)       89,727,000        
Issuance of Class A common stock 984,475     $ 9   984,466    
Exchange of combined interests for Class A common stock (shares)       80,000 (80,000)      
Rebalancing of ownership percentage between controlling and the noncontrolling interests 0         (12,832)   12,832
Net loss (96,748)           (91,554) (5,194)
Ending balance (shares) at Jun. 30, 2026   410,367,790 19,333,750 410,368,000 19,334,000      
Ending balance at Jun. 30, 2026 2,013,657     $ 41 $ 2 2,885,691 (824,425) (47,652)
Beginning balance (shares) at Mar. 31, 2026       323,741,000 19,376,000      
Beginning balance at Mar. 31, 2026 1,109,897     $ 32 $ 2 1,943,726 (776,886) (56,977)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Equity-based compensation expense 6,513         6,513    
Exercise of common share options and vested RSUs (shares)       17,000        
Exercise of common share options and vested RSUs 96         96    
Issuance of Class A common stock (shares)       86,568,000        
Issuance of Class A common stock 947,214     $ 9   947,205    
Exchange of combined interests for Class A common stock (shares)       42,000 (42,000)      
Rebalancing of ownership percentage between controlling and the noncontrolling interests 0         (11,849)   11,849
Net loss (50,063)           (47,539) (2,524)
Ending balance (shares) at Jun. 30, 2026   410,367,790 19,333,750 410,368,000 19,334,000      
Ending balance at Jun. 30, 2026 $ 2,013,657     $ 41 $ 2 $ 2,885,691 $ (824,425) $ (47,652)