v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional paid-in capital
Accumulated deficit
Accumulated other Comprehensive loss
Statutory reserves
Beginning balance (in shares) at Dec. 31, 2024   323,144        
Beginning balance at Dec. 31, 2024 $ 387,895 $ 33 $ 1,512,982 $ (1,092,958) $ (38,194) $ 6,032
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net (loss) profit (44,268)     (44,268)    
Issuance of common stock in connection with vesting of share-based awards (in shares)   523        
Share-based compensation 1,549   1,549      
Foreign currency translation adjustments 10,954       10,954  
Ending balance (in shares) at Jun. 30, 2025   323,667        
Ending balance at Jun. 30, 2025 356,130 $ 33 1,514,531 (1,137,226) (27,240) 6,032
Beginning balance (in shares) at Mar. 31, 2025   323,529        
Beginning balance at Mar. 31, 2025 454,235 $ 33 1,513,685 (1,031,168) (34,347) 6,032
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net (loss) profit (106,058)     (106,058)    
Issuance of common stock in connection with vesting of share-based awards (in shares)   138        
Share-based compensation 846   846      
Foreign currency translation adjustments 7,107       7,107  
Ending balance (in shares) at Jun. 30, 2025   323,667        
Ending balance at Jun. 30, 2025 $ 356,130 $ 33 1,514,531 (1,137,226) (27,240) 6,032
Beginning balance (in shares) at Dec. 31, 2025 331,786 331,786        
Beginning balance at Dec. 31, 2025 $ 410,513 $ 34 1,543,797 (1,122,176) (17,174) 6,032
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net (loss) profit 36,223     36,223    
Conversion of outstanding convertible loan into common stock (in shares)   50,000        
Conversion of outstanding convertible loan into common stock 80,000 $ 5 79,995      
Issuance of common stock in connection for compensation (in shares) [1]   275        
Issuance of common stock for compensation [1] 311   311      
Issuance of common stock in connection with vesting of share-based awards (in shares)   1,597        
Sales of common stock (in shares)   876        
Sales of common stock 1,350   1,350      
Equity issuance costs (105)   (105)      
Share-based compensation 1,850   1,850      
Foreign currency translation adjustments $ 12,952       12,952  
Ending balance (in shares) at Jun. 30, 2026 384,534 384,534        
Ending balance at Jun. 30, 2026 $ 543,094 $ 39 1,627,198 (1,085,953) (4,222) 6,032
Beginning balance (in shares) at Mar. 31, 2026   333,157        
Beginning balance at Mar. 31, 2026 466,106 $ 34 1,544,805 (1,073,965) (10,800) 6,032
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net (loss) profit (11,988)     (11,988)    
Conversion of outstanding convertible loan into common stock (in shares)   50,000        
Conversion of outstanding convertible loan into common stock 80,000 $ 5 79,995      
Issuance of common stock in connection for compensation (in shares) [1]   275        
Issuance of common stock for compensation [1] 311   311      
Issuance of common stock in connection with vesting of share-based awards (in shares)   226        
Sales of common stock (in shares)   876        
Sales of common stock 1,350   1,350      
Equity issuance costs (105)   (105)      
Share-based compensation 842   842      
Foreign currency translation adjustments $ 6,578       6,578  
Ending balance (in shares) at Jun. 30, 2026 384,534 384,534        
Ending balance at Jun. 30, 2026 $ 543,094 $ 39 $ 1,627,198 $ (1,085,953) $ (4,222) $ 6,032
[1]
(1) See Note 16 – Commitments and Contingencies.