v3.26.3
Condensed Consolidated Statements of Changes in Redeemable, Convertible Preferred Stock and Stockholders’ Deficit - USD ($)
$ in Thousands
Total
Class A Common Stock
Class B Common Stock
Common Stock
Common Stock
Class A Common Stock
Common Stock
Class B Common Stock
Additional Paid-in Capital
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2024 41,850,000              
Beginning balance at Dec. 31, 2024 $ 240,473              
Redeemable Convertible Preferred Stock                
Accretion of redeemable, convertible preferred stock $ 3,381              
Ending balance (in shares) at Mar. 31, 2025 41,850,000              
Ending balance at Mar. 31, 2025 $ 243,854              
Beginning balance (in shares) at Dec. 31, 2024       93,350,000        
Beginning balance at Dec. 31, 2024 (365,988)     $ 1     $ 337 $ (366,326)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Share-based compensation 84           84  
Accretion of redeemable, convertible preferred stock (3,381)             (3,381)
Net income 9,939             9,939
Ending balance (in shares) at Mar. 31, 2025       93,350,000        
Ending balance at Mar. 31, 2025 $ (359,346)     $ 1     421 (359,768)
Beginning balance (in shares) at Dec. 31, 2024 41,850,000              
Beginning balance at Dec. 31, 2024 $ 240,473              
Ending balance (in shares) at Sep. 30, 2025 41,850,000              
Ending balance at Sep. 30, 2025 $ 250,877              
Beginning balance (in shares) at Dec. 31, 2024       93,350,000        
Beginning balance at Dec. 31, 2024 (365,988)     $ 1     337 (366,326)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 33,070              
Ending balance (in shares) at Sep. 30, 2025       96,185,000        
Ending balance at Sep. 30, 2025 $ (509,549)     $ 1     9,110 (518,660)
Beginning balance (in shares) at Mar. 31, 2025 41,850,000              
Beginning balance at Mar. 31, 2025 $ 243,854              
Redeemable Convertible Preferred Stock                
Accretion of redeemable, convertible preferred stock $ 3,468              
Ending balance (in shares) at Jun. 30, 2025 41,850,000              
Ending balance at Jun. 30, 2025 $ 247,322              
Beginning balance (in shares) at Mar. 31, 2025       93,350,000        
Beginning balance at Mar. 31, 2025 (359,346)     $ 1     421 (359,768)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Share-based compensation 104           104  
Accretion of redeemable, convertible preferred stock (3,468)             (3,468)
Cash dividend paid (175,000)             (175,000)
Net income 11,620             11,620
Ending balance (in shares) at Jun. 30, 2025       93,350,000        
Ending balance at Jun. 30, 2025 (526,090)     $ 1     525 (526,616)
Redeemable Convertible Preferred Stock                
Accretion of redeemable, convertible preferred stock $ 3,555              
Ending balance (in shares) at Sep. 30, 2025 41,850,000              
Ending balance at Sep. 30, 2025 $ 250,877              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Share-based compensation 111           111  
Accretion of redeemable, convertible preferred stock (3,555)             (3,555)
Contributed capital, shareholder reimbursement of IPO transaction costs 8,474           8,474  
Early exercise of options (in shares)       2,835,000        
Net income 11,511             11,511
Ending balance (in shares) at Sep. 30, 2025       96,185,000        
Ending balance at Sep. 30, 2025 $ (509,549)     $ 1     9,110 (518,660)
Beginning balance (in shares) at Dec. 31, 2025 0              
Beginning balance (in shares) at Dec. 31, 2025   94,718,530 43,435,000   94,719,000 43,435,000    
Beginning balance at Dec. 31, 2025 $ (227,494)       $ 1 $ 0 286,856 (514,351)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Share-based compensation 6,876           6,876  
Issuance of common stock upon exercise of stock options (in shares)         189,000      
Issuance of common stock upon exercise of stock options 1,047           1,047  
Common stock withheld related to net share settlement of equity awards (in shares)         (40,000)      
Common stock withheld related to net share settlement of equity awards (1,137)           (1,137)  
Net income 7,349             7,349
Ending balance (in shares) at Mar. 31, 2026         94,868,000 43,435,000    
Ending balance at Mar. 31, 2026 $ (213,358)       $ 1 $ 0 293,643 (507,002)
Beginning balance (in shares) at Dec. 31, 2025 0              
Ending balance (in shares) at Sep. 30, 2026 0              
Beginning balance (in shares) at Dec. 31, 2025   94,718,530 43,435,000   94,719,000 43,435,000    
Beginning balance at Dec. 31, 2025 $ (227,494)       $ 1 $ 0 286,856 (514,351)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Common stock repurchased and retired (in shares)   (1,219,140) 0          
Net income 40,401              
Ending balance (in shares) at Sep. 30, 2026   94,732,765 43,435,000   94,733,000 43,435,000    
Ending balance at Sep. 30, 2026 (211,597)       $ 1 $ 0 262,352 (473,950)
Beginning balance (in shares) at Mar. 31, 2026         94,868,000 43,435,000    
Beginning balance at Mar. 31, 2026 (213,358)       $ 1 $ 0 293,643 (507,002)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Share-based compensation 6,947           6,947  
Issuance of common stock upon exercise of stock options (in shares)         144,000      
Issuance of common stock upon exercise of stock options 790           790  
Common stock withheld related to net share settlement of equity awards (in shares)         (19,000)      
Common stock withheld related to net share settlement of equity awards (547)           (547)  
Common stock repurchased and retired (in shares)         (1,219,000)      
Common stock repurchased and retired (31,869)           (31,869)  
Net income 15,796             15,796
Ending balance (in shares) at Jun. 30, 2026         93,774,000 43,435,000    
Ending balance at Jun. 30, 2026 $ (222,241)       $ 1 $ 0 268,964 (491,206)
Ending balance (in shares) at Sep. 30, 2026 0              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Share-based compensation $ 7,009           7,009  
Issuance of common stock upon exercise of stock options (in shares)         88,000      
Issuance of common stock upon exercise of stock options 482           482  
Issuance of common stock upon vesting of restricted stock units (in shares)         1,384,000      
Common stock withheld related to net share settlement of equity awards (in shares)         (513,000)      
Common stock withheld related to net share settlement of equity awards (14,103)           (14,103)  
Net income 17,256             17,256
Ending balance (in shares) at Sep. 30, 2026   94,732,765 43,435,000   94,733,000 43,435,000    
Ending balance at Sep. 30, 2026 $ (211,597)       $ 1 $ 0 $ 262,352 $ (473,950)