v3.26.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Total
Moonrise Acquisition
Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Moonrise Acquisition
Retained Earnings (Deficit)
Non controlling interest
Series A Preferred Units and Stock
Series A Preferred Units and Stock
Series A Preferred Stock
Common Class A
Common Stock
Common Class A
Common Stock
Moonrise Acquisition
Common Class B
Common Stock
Beginning balance at Dec. 31, 2024 $ 965,125     $ 540,714   $ (183,333) $ 497,333   $ 110,230 $ 106   $ 75
Equity                        
Net income (loss) 1,042         (1,887) (989)   3,918      
Dividend paid on Series A Preferred Stock (3,359)             $ (3,359)        
Equity compensation 2,375     2,375                
Tax withholdings and associated payments on vested SMC LTIP awards (2,837)     (2,838)           1    
Tax impact of Up-C Structure (12,280)     (12,280)                
Moonrise Acquisition   $ 17,895     $ 17,890           $ 5  
Conversion of Class B Common Stock and Partnership Common Units 0                 10   (10)
Equity shift 0     86,526     (86,526)          
Ending balance at Mar. 31, 2025 967,961     632,387   (185,220) 409,818   110,789 122   65
Beginning balance at Dec. 31, 2024 965,125     540,714   (183,333) 497,333   110,230 106   75
Equity                        
Moonrise Acquisition   17,895                    
Ending balance at Jun. 30, 2025 959,026     634,508   (193,248) 407,071   110,508 122   65
Beginning balance at Mar. 31, 2025 967,961     632,387   (185,220) 409,818   110,789 122   65
Equity                        
Net income (loss) (7,907)         (8,028) (2,980)   3,101      
Dividend paid on Series A Preferred Stock (3,382)             (3,382)        
Equity compensation 2,362     2,362                
Tax withholdings and associated payments on vested SMC LTIP awards (8)     (8)                
Equity shift 0     (233)     233          
Ending balance at Jun. 30, 2025 959,026     634,508   (193,248) 407,071   110,508 122   65
Beginning balance at Dec. 31, 2025 946,556     638,427   (202,902) 400,376   110,468 122   65
Equity                        
Net income (loss) (5,096)         (5,295) (2,914)   3,113      
Dividend paid on Series A Preferred Stock (49,416)             (49,416)        
Equity compensation 3,036     3,036                
Tax withholdings and associated payments on vested SMC LTIP awards (2,796)     (2,796)                
Tax impact of Up-C Structure (18,751)     (18,751)                
Share issuance 41,459     41,445           14    
Equity shift 0     78,286     (78,286)          
Ending balance at Mar. 31, 2026 914,992     739,647   (208,197) 319,176   64,165 136   65
Beginning balance at Dec. 31, 2025 946,556     638,427   (202,902) 400,376   110,468 122   65
Equity                        
Net income (loss)             (1,821)          
Shares repurchased and redeemed under Share Repurchase Program     $ (1,000)                  
Moonrise Acquisition   $ 0                    
Equity shift             (78,064)          
Ending balance at Jun. 30, 2026 918,866     740,596   (206,590) 320,491   64,168 136   65
Beginning balance at Mar. 31, 2026 914,992     739,647   (208,197) 319,176   64,165 136   65
Equity                        
Net income (loss) 4,565         1,607 1,093   1,865      
Dividend paid on Series A Preferred Stock (1,862)             $ (1,862)        
Equity compensation 2,298     2,298                
Shares repurchased and redeemed under Share Repurchase Program (1,009)     (1,009)                
Tax withholdings and associated payments on vested SMC LTIP awards (40)     (40)                
Tax impact of Up-C Structure (78)     (78)                
Equity shift 0     (222)     222          
Ending balance at Jun. 30, 2026 $ 918,866     $ 740,596   $ (206,590) $ 320,491   $ 64,168 $ 136   $ 65