v3.26.1
Condensed Consolidated Statements of Changes in Convertible Preferred Stock and Stockholders’ Equity (Unaudited) - USD ($)
$ in Thousands
Total
Series A Common Stock
Series B Common Stock
Common Stock
Series A Common Stock
Common Stock
Series B Common Stock
Preferred Stock
Additional Paid-in Capital
Accumulated Other Comprehensive (Loss) Income
Retained Earnings
Convertible Preferred, beginning balance (in shares) at Dec. 31, 2024 28,966,000                
Convertible Preferred, beginning balance at Dec. 31, 2024 $ 270,601                
Convertible Preferred, ending balance (in shares) at Mar. 31, 2025 28,966,000                
Convertible Preferred, ending balance at Mar. 31, 2025 $ 270,601                
Common Stock, beginning balance (in shares) at Dec. 31, 2024       3,799,000 0        
Preferred Stock, beginning balance (in shares) at Dec. 31, 2024           86,792,000      
Beginning balance at Dec. 31, 2024 108,724     $ 4 $ 0 $ 86 $ 2,764 $ (985) $ 106,855
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 22,802               22,802
Other comprehensive income (loss) (8)             (8)  
Common Stock, ending balance (in shares) at Mar. 31, 2025       3,799,000 0        
Preferred Stock, ending balance (in shares) at Mar. 31, 2025           86,792,000      
Ending balance at Mar. 31, 2025 $ 131,518     $ 4 $ 0 $ 86 2,764 (993) 129,657
Convertible Preferred, beginning balance (in shares) at Dec. 31, 2024 28,966,000                
Convertible Preferred, beginning balance at Dec. 31, 2024 $ 270,601                
Convertible Preferred, ending balance (in shares) at Jun. 30, 2025 28,966,000                
Convertible Preferred, ending balance at Jun. 30, 2025 $ 270,601                
Common Stock, beginning balance (in shares) at Dec. 31, 2024       3,799,000 0        
Preferred Stock, beginning balance (in shares) at Dec. 31, 2024           86,792,000      
Beginning balance at Dec. 31, 2024 108,724     $ 4 $ 0 $ 86 2,764 (985) 106,855
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 46,583                
Other comprehensive income (loss) (229)                
Common Stock, ending balance (in shares) at Jun. 30, 2025       3,799,000 0        
Preferred Stock, ending balance (in shares) at Jun. 30, 2025           86,792,000      
Ending balance at Jun. 30, 2025 $ 155,078     $ 4 $ 0 $ 86 2,764 (1,214) 153,438
Convertible Preferred, beginning balance (in shares) at Mar. 31, 2025 28,966,000                
Convertible Preferred, beginning balance at Mar. 31, 2025 $ 270,601                
Convertible Preferred, ending balance (in shares) at Jun. 30, 2025 28,966,000                
Convertible Preferred, ending balance at Jun. 30, 2025 $ 270,601                
Common Stock, beginning balance (in shares) at Mar. 31, 2025       3,799,000 0        
Preferred Stock, beginning balance (in shares) at Mar. 31, 2025           86,792,000      
Beginning balance at Mar. 31, 2025 131,518     $ 4 $ 0 $ 86 2,764 (993) 129,657
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 23,781               23,781
Other comprehensive income (loss) (221)             (221)  
Common Stock, ending balance (in shares) at Jun. 30, 2025       3,799,000 0        
Preferred Stock, ending balance (in shares) at Jun. 30, 2025           86,792,000      
Ending balance at Jun. 30, 2025 $ 155,078     $ 4 $ 0 $ 86 2,764 (1,214) 153,438
Convertible Preferred, beginning balance (in shares) at Dec. 31, 2025 0                
Convertible Preferred, beginning balance at Dec. 31, 2025 $ 0                
Convertible Preferred, ending balance (in shares) at Mar. 31, 2026 0                
Convertible Preferred, ending balance at Mar. 31, 2026 $ 0                
Common Stock, beginning balance (in shares) at Dec. 31, 2025   154,691,000 21,703,000 154,691,000 21,703,000        
Preferred Stock, beginning balance (in shares) at Dec. 31, 2025           0      
Beginning balance at Dec. 31, 2025 580,995     $ 155 $ 22 $ 0 551,648 448 28,722
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 29,213               29,213
Other comprehensive income (loss) (205)             (205)  
Stock-based compensation expense 7,941           7,941    
Issuance of Series A common stock upon vesting of RSUs (in shares)       560,000          
Issuance of Series A common stock upon vesting of RSUs 0     $ 1     (1)    
Tax withholding upon vesting of employee stock awards (4,638)           (4,638)    
Repurchase of common stock (in shares)       (312,000)          
Repurchase of common stock (3,618)     $ (1)     (3,617)    
Common Stock, ending balance (in shares) at Mar. 31, 2026       154,939,000 21,703,000        
Preferred Stock, ending balance (in shares) at Mar. 31, 2026           0      
Ending balance at Mar. 31, 2026 $ 609,688     $ 155 $ 22 $ 0 551,333 243 57,935
Convertible Preferred, beginning balance (in shares) at Dec. 31, 2025 0                
Convertible Preferred, beginning balance at Dec. 31, 2025 $ 0                
Convertible Preferred, ending balance (in shares) at Jun. 30, 2026 0                
Convertible Preferred, ending balance at Jun. 30, 2026 $ 0                
Common Stock, beginning balance (in shares) at Dec. 31, 2025   154,691,000 21,703,000 154,691,000 21,703,000        
Preferred Stock, beginning balance (in shares) at Dec. 31, 2025           0      
Beginning balance at Dec. 31, 2025 580,995     $ 155 $ 22 $ 0 551,648 448 28,722
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 56,712                
Other comprehensive income (loss) (229)                
Repurchase of common stock (in shares)   (319,531)              
Repurchase of common stock   $ (3,700)              
Common Stock, ending balance (in shares) at Jun. 30, 2026   155,381,000 21,703,000 155,381,000 21,703,000        
Preferred Stock, ending balance (in shares) at Jun. 30, 2026           0      
Ending balance at Jun. 30, 2026 $ 645,632     $ 155 $ 22 $ 0 559,802 219 85,434
Convertible Preferred, beginning balance (in shares) at Mar. 31, 2026 0                
Convertible Preferred, beginning balance at Mar. 31, 2026 $ 0                
Convertible Preferred, ending balance (in shares) at Jun. 30, 2026 0                
Convertible Preferred, ending balance at Jun. 30, 2026 $ 0                
Common Stock, beginning balance (in shares) at Mar. 31, 2026       154,939,000 21,703,000        
Preferred Stock, beginning balance (in shares) at Mar. 31, 2026           0      
Beginning balance at Mar. 31, 2026 609,688     $ 155 $ 22 $ 0 551,333 243 57,935
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 27,499               27,499
Other comprehensive income (loss) (24)             (24)  
Stock-based compensation expense 10,744           10,744    
Issuance of Series A common stock upon vesting of RSUs (in shares)       352,000          
Issuance of Series A common stock upon vesting of RSUs 0     $ 0     0    
Tax withholding upon vesting of employee stock awards (3,437)           (3,437)    
Repurchase of common stock (in shares)   (7,800)   (8,000)          
Repurchase of common stock (94) $ (100)   $ 0     (94)    
Common stock issued for ESPP purchases (in shares)       98,000          
Common stock issued for ESPP purchases 1,256           1,256    
Common Stock, ending balance (in shares) at Jun. 30, 2026   155,381,000 21,703,000 155,381,000 21,703,000        
Preferred Stock, ending balance (in shares) at Jun. 30, 2026           0      
Ending balance at Jun. 30, 2026 $ 645,632     $ 155 $ 22 $ 0 $ 559,802 $ 219 $ 85,434