v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 115,703 $ 151,856
Restricted cash 22,990 26,134
Accounts receivable, net [1] 449,118 309,861
Prepaid expenses and other current assets 22,699 18,521
Total current assets 610,510 506,372
Restricted cash 2,773 2,706
Investments and equity method investees 8,764 8,966
Property and equipment, net 81,921 80,785
Right-of-use assets - operating 2,710 4,373
Prepaid expenses and other noncurrent assets 2,308 3,078
Contract cost assets 14,047 13,537
Intangible assets, net 554,427 584,937
Goodwill 694,434 694,482
Total assets 1,971,894 1,899,236
Current liabilities:    
Accounts payable [1] 38,823 59,776
Accrued liabilities 43,897 65,755
Operating lease liability - current 1,541 15,343
Accrued compensation and employee benefits 28,966 50,987
Deferred revenue 1,208 1,203
Reserve for claims and performance - based arrangements 378,398 192,196
Total current liabilities 492,833 385,260
Long-term debt, net 966,467 970,537
Other long-term liabilities 8,092 8,012
Tax receivables agreement liability 108,909 108,909
Operating lease liabilities - noncurrent 2,426 3,818
Deferred tax liabilities, net 9,944 7,506
Total liabilities 1,588,671 1,484,042
Shareholders' Equity    
Class A common stock - $0.01 par value; 750,000,000 shares authorized; 118,656,443 and 117,603,806 shares issued, respectively 1,187 1,176
Additional paid-in-capital 1,817,414 1,793,398
Accumulated other comprehensive loss (3,626) (2,624)
Retained earnings (accumulated deficit) (1,370,323) (1,315,327)
Treasury stock, at cost; 5,971,712 and 5,971,712 shares issued, respectively (61,429) (61,429)
Total shareholders’ equity 383,223 415,194
Total liabilities and shareholders’ equity $ 1,971,894 $ 1,899,236
[1] See Note 17 for amounts attributable to unconsolidated related parties included in these line items.