v3.26.1
Description of the business: (Tables)
6 Months Ended
Jun. 30, 2026
Description of the business:  
Schedule of diluted weighted average shares

  ​ ​ ​

Three Months

  ​ ​ ​

Three Months

  ​ ​ ​

Six Months

  ​ ​ ​

Six Months

Ended

Ended

Ended

Ended

  ​ ​ ​

June 30, 2026

  ​ ​ ​

June 30, 2025

June 30, 2026

June 30, 2025

Weighted average common shares - basic

47,921,120

47,592,836

47,972,542

47,804,421

Dilutive effect of stock options

Dilutive effect of restricted stock

508,046

361,382

Weighted average common shares - diluted

48,429,166

47,592,836

48,333,924

47,804,421

Schedule of details unvested shares of restricted common stock as well as the anti-dilutive effects of stock options and restricted stock awards outstanding

Three Months

Three Months

Six Months

Six Months

Ended

Ended

Ended

Ended

  ​ ​ ​

June 30, 2026

  ​ ​ ​

June 30, 2025

  ​ ​ ​

June 30, 2026

  ​ ​ ​

June 30, 2025

Unvested shares of restricted common stock

3,289,506

1,657,168

3,289,506

1,657,168

Anti-dilutive options for common stock

247,989

223,068

248,576

202,864

Anti-dilutive shares of restricted common stock

1,693,891

782,800

787,174

911,907

Schedule of stockholders' (Deficit) Equity

The following details the changes in stockholders’ (deficit) equity for the three and six months ended June 30, 2026 and 2025 (in thousands except share data):

Accumulated

Additional

Other

Total

Common Stock

Paid-in

Comprehensive

Accumulated

Stockholders’

  ​ ​ ​

Shares

  ​ ​ ​

Amount

  ​ ​ ​

Capital

  ​ ​ ​

Loss

  ​ ​ ​

Deficit

  ​ ​ ​

Deficit

Balance at March 31, 2026

50,077,663

$

50

$

651,538

$

(6,327)

$

(749,423)

$

(104,162)

Forfeitures of shares granted to employees

(80,306)

Equity-based compensation

8,389

8,389

Foreign currency translation

(2,713)

(2,713)

Issuances of common stock

1,218,379

1

1

Dividends paid

(2,281)

(2,281)

Net income

66,636

66,636

Balance at June 30, 2026

51,215,736

$

51

$

659,927

$

(9,040)

$

(685,068)

$

(34,130)

Accumulated

Additional

Other

Total

Common Stock

Paid-in

Comprehensive

Accumulated

Stockholders’

  ​ ​ ​

Shares

  ​ ​ ​

Amount

  ​ ​ ​

Capital

  ​ ​ ​

Loss

  ​ ​ ​

Deficit

  ​ ​ ​

Equity

Balance at March 31, 2025

49,337,310

$

49

$

639,248

$

(18,933)

$

(477,520)

$

142,844

Forfeitures of shares granted to employees

 

(59,281)

Equity-based compensation

 

5,422

5,422

Foreign currency translation

 

17,737

17,737

Issuances of common stock

 

196,788

Exercises of options

 

886

30

30

Common stock purchases & retirement

(229,507)

(11,998)

(11,998)

Dividends paid

 

(49,560)

(49,560)

Net loss

 

(57,807)

(57,807)

Balance at June 30, 2025

 

49,246,196

$

49

$

632,702

$

(1,196)

$

(584,887)

$

46,668

Additional

Other

Total

Common Stock

Paid-in

Comprehensive

Accumulated

Stockholders’

  ​ ​ ​

Shares

  ​ ​ ​

Amount

  ​ ​ ​

Capital

  ​ ​ ​

Loss

  ​ ​ ​

Deficit

  ​ ​ ​

Deficit

Balance at December 31, 2025

 

50,062,158

$

50

$

643,256

$

1,428

$

(708,582)

$

(63,848)

Forfeitures of shares granted to employees

 

(91,316)

Equity-based compensation

 

16,671

16,671

Foreign currency translation

 

(10,468)

(10,468)

Issuances of common stock

 

1,244,894

1

1

Dividends paid

(3,580)

(3,580)

Net income

 

27,094

27,094

Balance at June 30, 2026

 

51,215,736

$

51

$

659,927

$

(9,040)

$

(685,068)

$

(34,130)

Additional

Other

Total

Common Stock

Paid-in

Comprehensive

Accumulated

Stockholders’

  ​ ​ ​

Shares

  ​ ​ ​

Amount

  ​ ​ ​

Capital

  ​ ​ ​

Loss

  ​ ​ ​

Deficit

  ​ ​ ​

Equity

Balance at December 31, 2024

 

49,034,925

$

49

$

629,829

$

(30,685)

$

(376,345)

$

222,848

Forfeitures of shares granted to employees

 

(69,541)

 

 

 

 

 

Equity-based compensation

 

 

 

14,720

 

 

 

14,720

Foreign currency translation

 

 

 

 

29,489

 

 

29,489

Issuances of common stock

 

507,386

 

 

 

 

 

Exercises of options

 

2,933

 

 

151

 

 

 

151

Common stock purchases & retirement

(229,507)

(11,998)

(11,998)

Dividends paid

 

 

 

 

 

(98,693)

 

(98,693)

Net loss

 

 

 

 

 

(109,849)

 

(109,849)

Balance at June 30, 2025

 

49,246,196

$

49

$

632,702

$

(1,196)

$

(584,887)

$

46,668

Schedule of revenue for termination fees

  ​ ​ ​

Three Months

  ​ ​ ​

Three Months

  ​ ​ ​

Six Months

  ​ ​ ​

Six Months

Ended

Ended

Ended

Ended

(in thousands)

June 30, 2026

June 30, 2025

June 30, 2026

June 30, 2025

Service revenue recognized from deferred revenue balance at beginning of period

$

2,409

$

2,310

$

4,528

$

4,107

Amortization expense for contract costs

 

6,747

5,562

13,339

10,935

Schedule of lease cost

  ​ ​ ​

Three Months

 

Three Months

  ​ ​ ​

Six Months

 

Six Months

Ended

 

Ended

Ended

 

Ended

(Amounts in thousands)

  ​ ​ ​

June 30, 2026

  ​ ​ ​

June 30, 2025

  ​ ​ ​

June 30, 2026

  ​ ​ ​

June 30, 2025

Finance lease cost

 

  ​

 

Amortization of right-of-use assets

$

13,553

$

13,975

$

27,089

$

27,891

Interest expense on finance lease liabilities

 

12,472

12,509

24,985

23,615

Operating lease cost

 

18,169

18,569

35,816

36,013

Total lease costs

$

44,194

$

45,053

$

87,890

$

87,519

  ​ ​ ​

Six Months

  ​ ​ ​

Six Months

Ended

Ended

June 30, 2026

June 30, 2025

Other lease information (amounts in thousands)

Cash paid for amounts included in the measurement of lease liabilities

Operating cash flows from finance leases

$

(28,276)

$

(22,650)

Operating cash flows from operating leases

(37,084)

(35,790)

Financing cash flows from finance leases

(23,007)

(16,523)

Right-of-use assets obtained in exchange for new finance lease liabilities

52,102

79,076

Right-of-use assets obtained in exchange for new operating lease liabilities

1,765

15,105

Weighted-average remaining lease term — finance leases (in years)

16.8

17.1

Weighted-average remaining lease term — operating leases (in years)

11.4

11.3

Weighted-average discount rate — finance leases

8.3

%

8.1

%

Weighted-average discount rate — operating leases

7.2

%

7.6

%

Schedule of future minimum payments under these operating lease agreements

The future minimum payments under the Company’s operating lease and finance lease agreements are as follows (in thousands):

  ​ ​ ​

Operating

  ​ ​ ​

Finance

For the Twelve Months Ending June 30,

Leases

Leases

2027

$

60,082

$

70,239

2028

57,534

69,157

2029

55,440

67,913

2030

34,482

67,537

2031

27,688

67,426

Thereafter

220,283

827,320

Total minimum lease obligations

455,509

1,169,592

Less—amounts representing interest

(146,033)

(539,382)

Present value of minimum lease obligations

309,476

630,210

Current maturities

(53,102)

(21,171)

Lease obligations, net of current maturities

$

256,374

$

609,039

Schedule of future minimum payments under these finance lease agreements

The future minimum payments under the Company’s operating lease and finance lease agreements are as follows (in thousands):

  ​ ​ ​

Operating

  ​ ​ ​

Finance

For the Twelve Months Ending June 30,

Leases

Leases

2027

$

60,082

$

70,239

2028

57,534

69,157

2029

55,440

67,913

2030

34,482

67,537

2031

27,688

67,426

Thereafter

220,283

827,320

Total minimum lease obligations

455,509

1,169,592

Less—amounts representing interest

(146,033)

(539,382)

Present value of minimum lease obligations

309,476

630,210

Current maturities

(53,102)

(21,171)

Lease obligations, net of current maturities

$

256,374

$

609,039