v3.26.1
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 120,843 $ 140,159
Restricted cash 209,517 263,257
Due from related parties 7,768 144,451
Accounts receivable, net of allowance for expected credit losses of $5,282 and $2,643 as of June 30, 2026 and December 31, 2025, respectively 134,711 90,708
Prepaid assets 14,359 7,013
Other current assets 61,143 73,307
Total current assets 548,341 718,895
Property and equipment, net 4,062,607 3,951,089
Right-of-use assets 319,863 355,237
Goodwill 537,233 541,493
Intangible assets, net 404,825 436,299
Other assets 130,445 91,410
Total assets 6,003,314 6,094,423
Current liabilities:    
Accounts payable 47,933 34,477
Accrued expenses 123,578 128,606
Due to related parties 3,335 0
Contract liabilities, current 100,653 96,358
Operating lease liabilities, current 39,566 41,755
Finance lease liabilities, current 13,209 15,020
Total current liabilities 328,274 316,216
Contract liabilities, non-current 159,990 122,762
Long-term related party loan 75,000 0
Long-term debt, net of deferred financing costs 4,890,179 4,755,553
Operating lease liabilities, net of current portion 320,117 391,577
Finance lease liabilities, net of current portion 422,787 428,364
Deferred tax liabilities 154,669 165,600
Other liabilities, non-current 40,915 41,097
Total liabilities 6,391,931 6,221,169
Commitments and contingencies (Note 13)
Stockholders'/member's deficit:    
Member's interest, 150,000 common shares authorized, 103,887 issued and outstanding as of December 31, 2025 0 1,094,620
Common stock, 1,000,000 common shares authorized, 103,887 issued and outstanding as of June 30, 2026 1,039 0
Additional paid-in capital 1,092,791 0
Accumulated deficit (1,469,893) (1,225,641)
Accumulated other comprehensive (loss) income (12,554) 4,275
Total stockholders'/member's deficit (388,617) (126,746)
Total liabilities and stockholders'/member's deficit $ 6,003,314 $ 6,094,423