Basis of Presentation of Interim Period Statements (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
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| Summary of Investment Income |
Investment income, net in the condensed consolidated statements of operations includes interest income as summarized in the table below for the three and six months ended June 30, 2026 and 2025 (in thousands):
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Interest income |
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$ |
1,981 |
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$ |
2,505 |
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$ |
3,889 |
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$ |
4,902 |
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| Summary of Company's Trade Accounts Receivable, Net |
The following table summarizes the Company’s trade accounts receivable, net at June 30, 2026 and December 31, 2025 ($ in thousands):
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June 30, |
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December 31, |
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2026 |
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2025 |
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Unbilled trade accounts receivable |
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$ |
291,333 |
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$ |
241,471 |
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Billed trade accounts receivable |
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10,509 |
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7,505 |
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Allowance for expected credit losses |
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(350 |
) |
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(350 |
) |
Trade accounts receivable, net |
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$ |
301,492 |
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$ |
248,626 |
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| Schedule of Reconciles of Cash, Cash Equivalents and Restricted Cash Balances |
The table below reconciles the cash, cash equivalents and restricted cash balances from our condensed consolidated balance sheets to the amounts reported on the condensed consolidated statements of cash flows (in thousands):
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June 30, |
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December 31, |
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June 30, |
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December 31, |
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2026 |
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2025 |
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2025 |
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2024 |
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Cash and cash equivalents |
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$ |
27,037 |
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$ |
95,033 |
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$ |
26,348 |
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$ |
55,367 |
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Restricted cash included in restricted cash and
investments |
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3,816 |
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31,301 |
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10,829 |
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27,221 |
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Total cash, cash equivalents and restricted cash
shown in the statements of cash flows |
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$ |
30,853 |
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$ |
126,334 |
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$ |
37,177 |
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$ |
82,588 |
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| Summary of Basic and Diluted Common Shares Outstanding Adjusted |
Basic and diluted shares outstanding are summarized as follows (in thousands):
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
Weighted average number of basic shares outstanding |
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24,348 |
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25,592 |
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24,689 |
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25,700 |
Effect of dilutive securities |
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360 |
|
623 |
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— |
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609 |
Weighted average number of diluted shares outstanding |
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24,708 |
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26,215 |
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24,689 |
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26,309 |
Potentially dilutive securities not included in weighted average
share calculation due to anti-dilutive effect |
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257 |
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35 |
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974 |
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35 |
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