| Schedule of Reportable Operating Segment Information |
The table below shows a reconciliation of the Company’s net income, including the significant expense categories regularly provided to and reviewed by the CODM, as computed under U.S. GAAP to the Company’s total net income or loss in the unaudited condensed consolidated statements of operations (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
2026 |
|
2025 |
|
2026 |
|
2025 |
| Revenue |
$ |
217,658 |
|
|
$ |
175,991 |
|
|
$ |
458,404 |
|
|
$ |
384,058 |
|
| Operating expenses: |
|
|
|
|
|
|
|
Personnel costs |
181,419 |
|
|
248,199 |
|
|
357,104 |
|
|
364,110 |
|
Non-personnel and other operating costs(1) |
42,639 |
|
|
30,923 |
|
|
81,346 |
|
|
68,337 |
|
Depreciation and amortization |
2,522 |
|
|
2,036 |
|
|
4,796 |
|
|
4,131 |
|
Total operating expenses |
$ |
226,580 |
|
|
$ |
281,158 |
|
|
$ |
443,246 |
|
|
$ |
436,578 |
|
| Operating (loss) income |
$ |
(8,922) |
|
|
$ |
(105,167) |
|
|
$ |
15,158 |
|
|
$ |
(52,520) |
|
Interest income |
1,497 |
|
|
1,030 |
|
|
3,376 |
|
|
2,230 |
|
Interest expense |
(5,887) |
|
|
(104) |
|
|
(12,121) |
|
|
(247) |
|
Other income, net |
3,145 |
|
|
1,291 |
|
|
3,971 |
|
|
2,293 |
|
| (Loss) income before income tax (benefit) expense |
$ |
(10,167) |
|
|
$ |
(102,950) |
|
|
$ |
10,384 |
|
|
$ |
(48,244) |
|
| Income tax (benefit) expense |
(73) |
|
|
(6,967) |
|
|
2,740 |
|
|
(2,837) |
|
| Net (loss) income |
$ |
(10,094) |
|
|
$ |
(95,983) |
|
|
$ |
7,644 |
|
|
$ |
(45,407) |
|
(1)Non-personnel and other operating costs primarily include the provision for credit losses and costs such as occupancy, business development, training, recruiting, and annual discretionary bonus compensation.
|
| Schedule of Long-Lived Assets, by Geographical Areas |
The following table shows income and losses incurred by region, as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
2026 |
|
2025 |
|
2026 |
|
2025 |
United States |
$ |
(7,915) |
|
|
$ |
(95,983) |
|
|
$ |
9,823 |
|
|
$ |
(45,407) |
|
| International |
(2,179) |
|
|
— |
|
|
(2,179) |
|
|
— |
| The following table shows long-lived assets held by region, as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
December 31, |
|
2026 |
|
2025 |
United States |
$ |
153,188 |
|
|
$ |
150,420 |
|
| International |
9,617 |
|
|
— |
|
|