v3.26.1
Condensed Consolidated Statements of Stockholders' Equity, Redeemable Non-controlling Interest and Series A Preferred Stock (Unaudited) - USD ($)
$ in Thousands
Total
Scenario, Adjustment
Additional Paid in Capital
Accumulated Deficit
Class A
Class A
Common Stock
Class B
Class B
Common Stock
Series A Convertible Preferred Stock
INR, Inc. Members' Equity, beginning balance at Dec. 31, 2024 $ 508,242                
Increase (Decrease) in Partners' Capital [Roll Forward]                  
Net income prior to reorganization transactions 9,914                
Effect of the reorganization transaction (518,156)                
INR, Inc. Members' Equity, ending balance at Mar. 31, 2025 0                
Equity, beginning balance (in shares) at Dec. 31, 2024           0   0  
Equity, beginning balance at Dec. 31, 2024 0   $ 0 $ 0   $ 0   $ 0  
Increase (Decrease) in Stockholders' Equity                  
Share-based compensation expense 126,895   126,895            
Issuance of common stock in connection with IPO, net of underwriting discounts, commissions and other offering costs 198,356   198,204     $ 152      
Adjustment of redeemable non-controlling interest to redemption value (343,375)   (325,099) (18,276)          
Effect of the reorganization transactions (in shares)               45,638,889,000  
Effect of the reorganization transaction 456             $ 456  
Issuance of common stock in connection with initial public offering, net of underwriting discounts, commissions and other offering costs (in shares)           15,237,500,000      
Net loss subsequent to reorganization transactions (34,569)     (34,569)          
Equity, ending balance (in shares) at Mar. 31, 2025           15,237,500,000   45,638,889,000  
Equity, ending balance at Mar. 31, 2025 (52,237)   0 (52,845)   $ 152   $ 456  
Redeemable non-controlling interest, beginning balance at Dec. 31, 2024 0                
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Effect of the reorganization transaction 517,700                
Net income (loss) (103,707)                
Issuance of common stock in connection with IPO, net of underwriting discounts, commissions and other offering costs 76,911                
Adjustment of redeemable non-controlling interest to redemption value 343,375                
Redeemable non-controlling interest, ending balance at Mar. 31, 2025 834,279                
INR, Inc. Members' Equity, beginning balance at Dec. 31, 2024 508,242                
Increase (Decrease) in Partners' Capital [Roll Forward]                  
Net income prior to reorganization transactions (9,914)                
INR, Inc. Members' Equity, ending balance at Jun. 30, 2025 0                
Equity, beginning balance (in shares) at Dec. 31, 2024           0   0  
Equity, beginning balance at Dec. 31, 2024 0   0 0   $ 0   $ 0  
Increase (Decrease) in Stockholders' Equity                  
Net income (loss) (16,581)                
Equity, ending balance (in shares) at Jun. 30, 2025           15,237,500,000   45,638,889,000  
Equity, ending balance at Jun. 30, 2025 10,143   44,392 (34,857)   $ 152   $ 456  
Redeemable non-controlling interest, beginning balance at Dec. 31, 2024 0                
Redeemable non-controlling interest, ending balance at Jun. 30, 2025 846,145                
INR, Inc. Members' Equity, beginning balance at Mar. 31, 2025 0                
Increase (Decrease) in Partners' Capital [Roll Forward]                  
Net income prior to reorganization transactions 0                
INR, Inc. Members' Equity, ending balance at Jun. 30, 2025 0                
Equity, beginning balance (in shares) at Mar. 31, 2025           15,237,500,000   45,638,889,000  
Equity, beginning balance at Mar. 31, 2025 (52,237)   0 (52,845)   $ 152   $ 456  
Increase (Decrease) in Stockholders' Equity                  
Share-based compensation expense 2,293   2,293            
Net income (loss) 17,988                
Adjustment of redeemable non-controlling interest to redemption value 42,099   42,099            
Net loss subsequent to reorganization transactions 17,988     17,988          
Equity, ending balance (in shares) at Jun. 30, 2025           15,237,500,000   45,638,889,000  
Equity, ending balance at Jun. 30, 2025 10,143   44,392 (34,857)   $ 152   $ 456  
Redeemable non-controlling interest, beginning balance at Mar. 31, 2025 834,279                
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Net income (loss) 53,965                
Adjustment of redeemable non-controlling interest to redemption value (42,099)                
Redeemable non-controlling interest, ending balance at Jun. 30, 2025 846,145                
Equity, beginning balance (in shares) at Dec. 31, 2025         15,542,521 15,542,521,000 45,247,974 45,247,974,000  
Equity, beginning balance at Dec. 31, 2025 307,139   310,972 (4,440)   $ 155   $ 452  
Increase (Decrease) in Stockholders' Equity                  
Share-based compensation expense 2,262   2,262            
RSUs repurchased for tax withholdings (in shares)           223,718,000      
RSUs repurchased for tax withholdings (1,201)   (1,203)     $ 2      
Net income (loss)   $ (1,871)   (1,871)          
Issuance of Class A common stock for acquisition (in shares)           2,517,194,000      
Issuance of Class A common stock for acquisition 35,115   35,090     $ 25      
Issuance of common stock in connection with IPO, net of underwriting discounts, commissions and other offering costs 0                
Dividends on Series A Preferred Stock (3,104)     (3,104)          
Conversion of Class B units to Class A units (in shares)           467,744,000   (467,744,000)  
Exchange of INR Units for Class A common stock 6,888   6,888     $ 5   $ (5)  
Change in Tax Receivable Agreement (2,047)   (2,047)            
Adjustment of redeemable non-controlling interest to redemption value (162,740)   (162,740)            
Equity, ending balance (in shares) at Mar. 31, 2026           18,751,177,000   44,780,230,000  
Equity, ending balance at Mar. 31, 2026 180,441   189,222 (9,415)   $ 187   $ 447  
Redeemable non-controlling interest, beginning balance at Dec. 31, 2025 670,785                
Temporary equity beginning balance at Dec. 31, 2025                 $ 0
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Net income (loss) (4,472)                
Issuance of common stock in connection with IPO, net of underwriting discounts, commissions and other offering costs                 333,976
Adjustment of redeemable non-controlling interest to redemption value 162,740               3,104
Exchange of INR Units for Class A common stock (6,888)                
Redeemable non-controlling interest, ending balance at Mar. 31, 2026 822,165                
Temporary equity ending balance at Mar. 31, 2026                 337,080
Increase (Decrease) in Partners' Capital [Roll Forward]                  
Net income prior to reorganization transactions 0                
Equity, beginning balance (in shares) at Dec. 31, 2025         15,542,521 15,542,521,000 45,247,974 45,247,974,000  
Equity, beginning balance at Dec. 31, 2025 307,139   310,972 (4,440)   $ 155   $ 452  
Increase (Decrease) in Stockholders' Equity                  
Net income (loss) 29,887                
Equity, ending balance (in shares) at Jun. 30, 2026         18,641,598 18,641,598,000 44,780,230 44,780,230,000  
Equity, ending balance at Jun. 30, 2026 398,949   382,734 15,582   $ 186   $ 447  
Redeemable non-controlling interest, beginning balance at Dec. 31, 2025 670,785                
Temporary equity beginning balance at Dec. 31, 2025                 0
Redeemable non-controlling interest, ending balance at Jun. 30, 2026 706,595                
Temporary equity ending balance at Jun. 30, 2026                 343,591
Increase (Decrease) in Partners' Capital [Roll Forward]                  
Net income prior to reorganization transactions 0                
Equity, beginning balance (in shares) at Mar. 31, 2026           18,751,177,000   44,780,230,000  
Equity, beginning balance at Mar. 31, 2026 180,441   189,222 (9,415)   $ 187   $ 447  
Increase (Decrease) in Stockholders' Equity                  
Share-based compensation expense 3,199   3,199            
Net income (loss) 31,752 $ 31,752   31,752          
Dividends on Series A Preferred Stock (6,755)     (6,755)          
Adjustment of redeemable non-controlling interest to redemption value 191,817   191,817            
Shares repurchased and retired (in shares)           (109,579,000)      
Shares repurchased and retired (1,505)   (1,504)     $ (1)      
Equity, ending balance (in shares) at Jun. 30, 2026         18,641,598 18,641,598,000 44,780,230 44,780,230,000  
Equity, ending balance at Jun. 30, 2026 398,949   $ 382,734 $ 15,582   $ 186   $ 447  
Redeemable non-controlling interest, beginning balance at Mar. 31, 2026 822,165                
Temporary equity beginning balance at Mar. 31, 2026                 337,080
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Net income (loss) 76,247                
Adjustment of redeemable non-controlling interest to redemption value (191,817)               6,755
Preferred Stock issuance costs                 (244)
Redeemable non-controlling interest, ending balance at Jun. 30, 2026 $ 706,595                
Temporary equity ending balance at Jun. 30, 2026                 $ 343,591