v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Total Stockholders’ Equity
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Loss
Accumulated Deficit
Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2024     340,258,453        
Beginning balance at Dec. 31, 2024 $ 4,135,942 $ 4,129,033 $ 34 $ 4,155,386 $ 0 $ (26,387) $ 6,909
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Stock-based compensation, net of tax withholding (in shares)     3,898,871        
Stock-based compensation, net of tax withholding 103,771 103,771   103,771      
Issuance of common stock, net of offering costs (in shares)     20,406,546        
Issuance of common stock, net of offering costs 319,343 319,343 $ 2 319,341      
Repurchase of shares in settlement of restricted stock (in shares)     (2,225,964)        
Repurchase of shares in settlement of restricted stock (35,530) (35,530)   (35,530)      
Distribution to noncontrolling interest (2,076)           (2,076)
Net income (loss) 274,762 275,036       275,036 (274)
Ending balance (in shares) at Jun. 30, 2025     362,337,906        
Ending balance at Jun. 30, 2025 4,796,212 4,791,653 $ 36 4,542,968 0 248,649 4,559
Beginning balance (in shares) at Mar. 31, 2025     346,279,403        
Beginning balance at Mar. 31, 2025 3,728,680 3,724,727 $ 34 4,284,279 0 (559,586) 3,953
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Stock-based compensation, net of tax withholding (in shares)     2,157,781        
Stock-based compensation, net of tax withholding 54,656 54,656   54,656      
Issuance of common stock, net of offering costs (in shares)     14,977,998        
Issuance of common stock, net of offering costs 219,203 219,203 $ 2 219,201      
Repurchase of shares in settlement of restricted stock (in shares)     (1,077,276)        
Repurchase of shares in settlement of restricted stock (15,168) (15,168)   (15,168)      
Contribution from noncontrolling interest 636           636
Net income (loss) 808,205 808,235       808,235 (30)
Ending balance (in shares) at Jun. 30, 2025     362,337,906        
Ending balance at Jun. 30, 2025 $ 4,796,212 4,791,653 $ 36 4,542,968 0 248,649 4,559
Beginning balance (in shares) at Dec. 31, 2025 379,464,892   379,464,892        
Beginning balance at Dec. 31, 2025 $ 3,477,090 3,471,720 $ 37 4,809,550 0 (1,337,867) 5,370 [1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Stock-based compensation, net of tax withholding (in shares)     4,004,927        
Stock-based compensation, net of tax withholding 78,764 78,764 $ 1 78,763      
Issuance of non-controlling interest in subsidiary 11,795           11,795 [1]
Repurchase of shares in settlement of restricted stock (in shares)     (1,581,815)        
Repurchase of shares in settlement of restricted stock (15,131) (15,131)   (15,131)      
Distribution to noncontrolling interest (165)           (165) [1]
Noncontrolling interest preferred stock dividends (375)           (375) [1]
Foreign exchange loss on translation (5,697) (5,492)     (5,492)   (205)
Net income (loss) (1,870,089) (1,869,304)       (1,869,304) (785) [1]
Net income (loss) $ (1,873,714)            
Ending balance (in shares) at Jun. 30, 2026 381,888,004   381,888,004        
Ending balance at Jun. 30, 2026 $ 1,676,942 1,660,557 $ 38 4,873,182 (5,492) (3,207,171) 16,385 [1]
Beginning balance (in shares) at Mar. 31, 2026     380,873,087        
Beginning balance at Mar. 31, 2026 2,248,223 2,231,975 $ 38 4,833,967 (4,544) (2,597,486) 16,248 [1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Stock-based compensation, net of tax withholding (in shares)     1,720,196        
Stock-based compensation, net of tax withholding 46,891 46,891   46,891      
Repurchase of shares in settlement of restricted stock (in shares)     (705,279)        
Repurchase of shares in settlement of restricted stock (7,676) (7,676)   (7,676)      
Distribution to noncontrolling interest (127)           (127) [1]
Noncontrolling interest preferred stock dividends 375           375 [1]
Foreign exchange loss on translation (1,153) (948)     (948)   (205)
Net income (loss) (609,591) (609,685)       (609,685) 94 [1]
Net income (loss) $ (611,317)            
Ending balance (in shares) at Jun. 30, 2026 381,888,004   381,888,004        
Ending balance at Jun. 30, 2026 $ 1,676,942 $ 1,660,557 $ 38 $ 4,873,182 $ (5,492) $ (3,207,171) $ 16,385 [1]
[1] Net income (loss) attributable to noncontrolling interest for the three and six months ended June 30, 2026 excludes a $1.7 million and $3.6 million net loss attributable to redeemable noncontrolling interest, respectively, which is presented separately. Refer to Note 11 – Equity and Mezzanine Equity, “Redeemable Noncontrolling Interest,” for further information.