v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 534,000 $ 162,573
Accounts receivable, net 55,800 11,539
Inventories 41,787 18,747
Prepaid expenses and other current assets 20,988 31,478
Contract assets 114,967 76,809
Capitalized commissions, net 4,305 6,661
Total current assets 771,847 307,807
Fixed assets, net 58,070 46,293
Right of use assets, net 28,445 24,683
Goodwill 793,520 674,262
Other intangibles, net 412,828 407,925
Other assets 5,509 14,415
Total assets 2,070,219 1,475,385
Current liabilities    
Contract liabilities 18,157 110,275
Accounts payable and accrued expenses 110,015 68,358
Operating lease liabilities, current 3,942 3,260
Income taxes payable 831 672
Long-term debt, current 5,625 3,750
Deferred commissions, current 5,266 5,038
Other current liabilities 835 0
Total current liabilities 144,671 191,353
Operating lease liabilities, less current portion 26,330 23,161
Deferred commissions, less current portion 1,191 2,110
Long-term debt, net 141,419 144,962
Derivative liability associated with Class P Units 0 93,411
Other liabilities 4,717 3,353
Deferred income tax liability 6,084 6,096
Total liabilities 324,412 464,446
Commitments and contingencies (See Note 13)
Temporary and Stockholders' Equity/Member's Capital    
Class P Units (0 and 240,956,348 units authorized, issued and outstanding at June 30, 2026 and December 31, 2025, respectively; $0 and $241,498 liquidation preference as of June 30, 2026 and December 31, 2025, respectively) 0 143,115
Common units (0 and 50,000,000 authorized, issued and outstanding at June 30, 2026 and December 31, 2025, respectively) 0 1,135,910
Common stock ($0.0001 par value per share; 1,000,000,000 and 0 authorized at June 30, 2026 and December 31, 2025, respectively; 129,312,790 and 0 issued and outstanding at June 30, 2026 and December 31, 2025, respectively) 13 0
Additional paid-in-capital 2,168,137 0
Accumulated other comprehensive income 864 936
Accumulated deficit (423,207) (269,022)
Total stockholders' equity/member's capital 1,745,807  
Total stockholders' equity/member's capital   867,824
Total liabilities, temporary equity, and stockholders' equity/member's capital $ 2,070,219 $ 1,475,385