RELATED PARTY TRANSACTIONS |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS The Company subcontracts certain services with an entity owned by a family member of one of the minority members. For the three and six months ended June 30, 2026, we paid approximately $0.5 million and $0.9 million, respectively, to this entity. For the three and six months ended June 30, 2025, we paid approximately $0.2 million and $0.4 million, respectively, to this entity. In addition, we engaged an entity owned by family of another minority member for subcontractor services and paid approximately $0.0 million and $0.3 million to this entity for the three and six months ended June 30, 2026, respectively and paid approximately $0.2 million and $0.5 million to this entity for the three and six months ended June 30, 2025, respectively. These expenses are reflected in cost of revenue, excluding depreciation and amortization on the consolidated statements of operations. In addition, the Company purchased uniform and apparel products from an entity owned by a family member of one of our management team. We paid $0.1 million and $0.2 million to this entity during the three and six months ended June 30, 2026, respectively, and we paid $0.1 million and $0.2 million to this entity during the three and six months ended June 30, 2025, respectively, and the expenses are included in cost of revenue, excluding depreciation and amortization on the consolidated statements of operations. The Company has a property lease with an entity that is owned by certain of the minority members of ITG Parent. The Company paid a total of $0.2 million to the related entity for this lease during the six months ended June 30, 2025. During the first quarter of 2026, this property was sold by the minority members to an unrelated third party. In conjunction with the initial acquisition, the Company is due approximately $2.4 million from certain members of the ITG Parent through a note receivable. The note receivable bears interest at the rate of 5.5% and does not have a specified maturity date. As of June 30, 2026 and December 31, 2025, approximately $0.4 million has been recorded for interest income due on the note. In conjunction with the initial acquisition, the Company entered into an agreement with certain members in which it could owe $10.0 million upon a Trigger Event, as defined in the agreement, and would incur interest at a rate of 8% per annum. The Company paid $2.9 million to certain of the holders during June 2026 to satisfy a portion of the liability. The fair value of this contingent liability is $9.0 million and $11.4 million as of June 30, 2026 and December 31, 2025, respectively.
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