v3.26.1
Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($)
$ in Thousands
Total
Common Stock
Additional paid-in capital
Retained earnings (Accumulated deficit)
Accumulated other comprehensive (loss) income
Non- controlling interest
Series B convertible preferred stock
Class A common stock
Common Stock
Balance at beginning of period (in shares) at Dec. 31, 2024             96,746  
Balance at beginning of period at Dec. 31, 2024             $ 90,570  
Increase (Decrease) in Temporary Equity [Roll Forward]                
Dividends             $ 107  
Balance at end of period (in shares) at Mar. 31, 2025             36,746  
Balance at end of period at Mar. 31, 2025             $ 40,708  
Balance at beginning of period (in shares) at Dec. 31, 2024               266,459,093
Balance at beginning of period at Dec. 31, 2024 $ 2,000,701   $ 1,674,312 $ 193,561 $ 7,504 $ 122,660   $ 2,664
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) (175,426)     (177,634)   2,208    
Other comprehensive income (loss) 24,253       23,582 671    
Share-based compensation expense (229)   (229)          
Class A stock issued, net of issuance costs (in shares)               661,207
Class A stock issued, net of issuance costs 370   363         $ 7
Acquisition of non-controlling interest (822)   (1,356)     534    
Issuance of shares for vested share-based compensation awards (in shares)               31,814
Shares withheld from employees related to share-based compensation, at cost (in shares)               (13,086)
Shares withheld from employees related to share-based compensation, at cost (159)   (159)          
Conversion of Series B convertible preferred stock (in shares)             (60,000) 6,651,511
Conversion of Series B convertible preferred stock 49,965   49,898       $ (49,969) $ 67
Dividends (3,567)     (548)   (3,019)    
Balance at end of period (in shares) at Mar. 31, 2025               273,790,539
Balance at end of period at Mar. 31, 2025 1,895,086   1,722,829 15,379 31,086 123,054   $ 2,738
Balance at beginning of period (in shares) at Dec. 31, 2024             96,746  
Balance at beginning of period at Dec. 31, 2024             $ 90,570  
Balance at end of period (in shares) at Jun. 30, 2025             36,746  
Balance at end of period at Jun. 30, 2025             $ 41,154  
Balance at beginning of period (in shares) at Dec. 31, 2024               266,459,093
Balance at beginning of period at Dec. 31, 2024 2,000,701   1,674,312 193,561 7,504 122,660   $ 2,664
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) (721,888)              
Balance at end of period (in shares) at Jun. 30, 2025               274,201,463
Balance at end of period at Jun. 30, 2025 1,381,704   1,725,985 (528,887) 59,426 122,438   $ 2,742
Balance at beginning of period (in shares) at Mar. 31, 2025             36,746  
Balance at beginning of period at Mar. 31, 2025             $ 40,708  
Increase (Decrease) in Temporary Equity [Roll Forward]                
Dividends             $ 446  
Balance at end of period (in shares) at Jun. 30, 2025             36,746  
Balance at end of period at Jun. 30, 2025             $ 41,154  
Balance at beginning of period (in shares) at Mar. 31, 2025               273,790,539
Balance at beginning of period at Mar. 31, 2025 1,895,086   1,722,829 15,379 31,086 123,054   $ 2,738
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) (546,462)     (544,266)   (2,196)    
Other comprehensive income (loss) 29,920       28,340 1,580    
Share-based compensation expense 5,250   5,250          
Issuance of shares for vested share-based compensation awards (in shares)               720,642
Issuance of shares for vested share-based compensation awards 7             $ 7
Shares withheld from employees related to share-based compensation, at cost (in shares)               (309,718)
Shares withheld from employees related to share-based compensation, at cost (1,651)   (1,648)         $ (3)
Dividends (446)   (446)          
Balance at end of period (in shares) at Jun. 30, 2025               274,201,463
Balance at end of period at Jun. 30, 2025 1,381,704   1,725,985 (528,887) 59,426 122,438   $ 2,742
Balance at beginning of period (in shares) at Dec. 31, 2025               284,552,811
Balance at beginning of period at Dec. 31, 2025 309,631   1,776,306 (1,650,592) 54,088 126,984   $ 2,845
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) (400,604)     (399,945)   (659)    
Other comprehensive income (loss) 34,330       34,299 31    
Share-based compensation expense 3,790   3,790          
Issuance of shares for vested share-based compensation awards (in shares)               1,862,805
Issuance of shares for vested share-based compensation awards 19             $ 19
Shares withheld from employees related to share-based compensation, at cost (in shares)               (780,966)
Shares withheld from employees related to share-based compensation, at cost (1,052) $ (8) (1,044)          
Dividends (1,150)         (1,150)    
Balance at end of period (in shares) at Mar. 31, 2026               285,634,650
Balance at end of period at Mar. 31, 2026 (55,036)   1,779,052 (2,050,537) 88,387 125,206   $ 2,856
Balance at beginning of period (in shares) at Dec. 31, 2025               284,552,811
Balance at beginning of period at Dec. 31, 2025 309,631   1,776,306 (1,650,592) 54,088 126,984   $ 2,845
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) (773,559)              
Balance at end of period (in shares) at Jun. 30, 2026               285,634,650
Balance at end of period at Jun. 30, 2026 (432,438)   1,773,290 (2,421,978) 92,182 121,212   $ 2,856
Balance at beginning of period (in shares) at Mar. 31, 2026               285,634,650
Balance at beginning of period at Mar. 31, 2026 (55,036)   1,779,052 (2,050,537) 88,387 125,206   $ 2,856
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) (372,955)     (371,441)   (1,514)    
Other comprehensive income (loss) 3,179       3,795 (616)    
Share-based compensation expense 5,022   5,022          
Settlement of vested share-based compensation awards (10,784)   (10,784)          
Dividends (1,864)         (1,864)    
Balance at end of period (in shares) at Jun. 30, 2026               285,634,650
Balance at end of period at Jun. 30, 2026 $ (432,438)   $ 1,773,290 $ (2,421,978) $ 92,182 $ 121,212   $ 2,856