v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE PREFERRED STOCK, REDEEMABLE COMMON STOCK AND STOCKHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid in Capital
Accumulated Other Comprehensive Income
Accumulated Deficit
Redeemable Preferred Stock
Series M redeemable preferred stock
Series M redeemable preferred stock
Common Stock
Series M redeemable preferred stock
Additional Paid in Capital
Series N redeemable preferred stock
Series N redeemable preferred stock
Common Stock
Series N redeemable preferred stock
Additional Paid in Capital
Series O redeemable preferred stock
Series O redeemable preferred stock
Common Stock
Series O redeemable preferred stock
Additional Paid in Capital
Redeemable Common Stock
Beginning balance (in shares) at Dec. 31, 2024           510,000                   1,472,965
Beginning balance at Dec. 31, 2024           $ 474,920                   $ 22,258
Ending balance (in shares) at Mar. 31, 2025           510,000                   1,472,965
Ending balance at Mar. 31, 2025           $ 474,920                   $ 22,258
Beginning balance (in shares) at Dec. 31, 2024   302,951,406                            
Beginning balance at Dec. 31, 2024 $ 880,564 $ 303 $ 2,255,500 $ 129,430 $ (1,504,669)                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income (loss) (22,183)       (22,183)                      
Other comprehensive loss, net of tax (15,741)     (15,741)                        
Issuance of Class A common stock upon exercise of stock options and warrants (in shares)   337,100                            
Issuance of Class A common stock upon exercise of stock options and warrants 33   33                          
Repurchase and retirement of Class A common stock (in shares)   (25,915)                            
Repurchase and retirement of Class A common stock (1,000)   (1,000)                          
Stock-based compensation 5,605   5,605                          
Reclassification of liability-classified awards to equity-classified awards 15,971   15,971                          
Ending balance (in shares) at Mar. 31, 2025   303,262,591                            
Ending balance at Mar. 31, 2025 863,249 $ 303 2,276,109 113,689 (1,526,852)                      
Beginning balance (in shares) at Dec. 31, 2024           510,000                   1,472,965
Beginning balance at Dec. 31, 2024           $ 474,920                   $ 22,258
Ending balance (in shares) at Jun. 30, 2025           590,475                   1,543,825
Ending balance at Jun. 30, 2025           $ 555,344                   $ 23,301
Beginning balance (in shares) at Dec. 31, 2024   302,951,406                            
Beginning balance at Dec. 31, 2024 880,564 $ 303 2,255,500 129,430 (1,504,669)                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income (loss) (76,012)                              
Other comprehensive loss, net of tax (26,134)                              
Ending balance (in shares) at Jun. 30, 2025   303,229,231                            
Ending balance at Jun. 30, 2025 800,144 $ 303 2,277,226 103,296 (1,580,681)                      
Beginning balance (in shares) at Mar. 31, 2025           510,000                   1,472,965
Beginning balance at Mar. 31, 2025           $ 474,920                   $ 22,258
Increase (Decrease) in Temporary Equity [Roll Forward]                                
Issuance of redeemable preferred stock, net of issuance cost (in shares)                   50,000     30,475      
Issuance of redeemable preferred stock, net of issuance cost                   $ 49,949     $ 30,475      
Reclassification of common stock to redeemable common stock (in shares)                               70,860
Reclassification of common stock to redeemable common stock                               $ 1,043
Ending balance (in shares) at Jun. 30, 2025           590,475                   1,543,825
Ending balance at Jun. 30, 2025           $ 555,344                   $ 23,301
Beginning balance (in shares) at Mar. 31, 2025   303,262,591                            
Beginning balance at Mar. 31, 2025 863,249 $ 303 2,276,109 113,689 (1,526,852)                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income (loss) (53,829)       (53,829)                      
Other comprehensive loss, net of tax (10,393)     (10,393)                        
Issuance of Class A common stock upon exercise of stock options and warrants (in shares)   37,500                            
Issuance of Class A common stock upon exercise of stock options and warrants 20   20                          
Stock-based compensation 2,140   2,140                          
Reclassification to temporary equity (in shares)   (70,860)                            
Reclassification of common stock to redeemable common stock (1,043)   (1,043)                          
Ending balance (in shares) at Jun. 30, 2025   303,229,231                            
Ending balance at Jun. 30, 2025 $ 800,144 $ 303 2,277,226 103,296 (1,580,681)                      
Beginning balance (in shares) at Dec. 31, 2025 794,893         794,893       50,000     254,893      
Beginning balance at Dec. 31, 2025 $ 758,027         $ 758,027                    
Increase (Decrease) in Temporary Equity [Roll Forward]                                
Conversion of Series N and Series O redeemable preferred stock to Class A common stock (in shares)                   (50,000)     (254,893)      
Conversion of Series N and Series O redeemable preferred stock to Class A common stock                   $ (49,761)     $ (253,916)      
Ending balance (in shares) at Mar. 31, 2026           490,000                    
Ending balance at Mar. 31, 2026           $ 454,350       49,800     253,900      
Beginning balance (in shares) at Dec. 31, 2025   346,070,641                            
Beginning balance at Dec. 31, 2025 1,183,588 $ 346 4,522,498 71,347 (3,410,603)                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income (loss) 48,045       48,045                      
Other comprehensive loss, net of tax (16,733)     (16,733)                        
Issuance of Class A common stock upon exercise of stock options (in shares)   57,500                            
Issuance of Class A common stock upon exercise of stock options 32   32                          
Conversion of redeemable preferred stock to Class A common stock (in shares)               1,322,527     2,340,425     11,931,135    
Conversion of redeemable preferred stock to Class A common stock             $ 9,863 $ 2 $ 9,861 $ 49,761 $ 2 $ 49,759 $ 253,916 $ 12 $ 253,904  
Stock-based compensation 37,729   37,729                          
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings on settlement (in shares)                           12,003,661    
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings on settlement (2,608)                         $ 12 (2,620)  
Ending balance (in shares) at Mar. 31, 2026   373,725,889                            
Ending balance at Mar. 31, 2026 $ 1,563,593 $ 374 4,871,163 54,614 (3,362,558)                      
Beginning balance (in shares) at Dec. 31, 2025 794,893         794,893       50,000     254,893      
Beginning balance at Dec. 31, 2025 $ 758,027         $ 758,027                    
Increase (Decrease) in Temporary Equity [Roll Forward]                                
Conversion of Series N and Series O redeemable preferred stock to Class A common stock (in shares)             (24,025)                  
Ending balance (in shares) at Jun. 30, 2026 490,000         490,000                    
Ending balance at Jun. 30, 2026 $ 454,350         $ 454,350                    
Beginning balance (in shares) at Dec. 31, 2025   346,070,641                            
Beginning balance at Dec. 31, 2025 1,183,588 $ 346 4,522,498 71,347 (3,410,603)                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income (loss) 62,652                              
Other comprehensive loss, net of tax $ (32,205)                              
Issuance of Class A common stock upon exercise of stock options (in shares) 997,667                              
Ending balance (in shares) at Jun. 30, 2026   380,019,216                            
Ending balance at Jun. 30, 2026 $ 1,623,494 $ 380 4,931,923 39,142 (3,347,951)                      
Beginning balance (in shares) at Mar. 31, 2026           490,000                    
Beginning balance at Mar. 31, 2026           $ 454,350       $ 49,800     $ 253,900      
Ending balance (in shares) at Jun. 30, 2026 490,000         490,000                    
Ending balance at Jun. 30, 2026 $ 454,350         $ 454,350                    
Beginning balance (in shares) at Mar. 31, 2026   373,725,889                            
Beginning balance at Mar. 31, 2026 1,563,593 $ 374 4,871,163 54,614 (3,362,558)                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income (loss) 14,607       14,607                      
Other comprehensive loss, net of tax (15,472)     (15,472)                        
Issuance of Class A common stock upon exercise of stock options (in shares)   525,051                            
Issuance of Class A common stock upon exercise of stock options, net of tax withholding on settlement (4,266)   (4,266)                          
Stock-based compensation 96,736   96,736                          
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings on settlement (in shares)                           5,768,276    
Issuance of common stock upon settlement of restricted stock units, net of tax withholdings on settlement (31,704)                         $ 6 $ (31,710)  
Ending balance (in shares) at Jun. 30, 2026   380,019,216                            
Ending balance at Jun. 30, 2026 $ 1,623,494 $ 380 $ 4,931,923 $ 39,142 $ (3,347,951)