v3.26.3
Condensed Consolidated Statements of Changes in Stockholders’ Equity and Mezzanine Equity - USD ($)
$ in Thousands
Total
Series A Preferred Stock
Series B Preferred Stock
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Retained Earnings
Series A Preferred Stock
Retained Earnings
Series B Preferred Stock
Treasury Stock
Preferred Stock
Series A Preferred Stock
Preferred Stock
Series B Preferred Stock
Beginning balance (in shares) at Dec. 31, 2024       235,087,000                
Beginning balance at Dec. 31, 2024 $ 399,929     $ 79 $ 300,164 $ (3,250) $ 105,521     $ (2,585)    
Beginning balance, treasury stock (in shares) at Dec. 31, 2024                   (73,000)    
Stockholders’ Equity                        
Stock-based compensation 5,029       5,029              
Stock option exercises, RSUs and PSUs converted (in shares)       348,000                
Stock option exercises, RSUs and PSUs converted 338       338              
Dividends, preferred stock   $ (6,781)           $ (6,781)        
Repurchase of Common Stock (in shares)                   (73,000)    
Repurchase of Common Stock (1,932)                 $ (1,932)    
Treasury Stock (in shares)                   (6,000)    
Treasury Stock (137)                 $ (137)    
Foreign currency translation 2,249         2,249            
Net income (loss) 44,419           44,419          
Ending balance (in shares) at Mar. 31, 2025       235,435,000                
Ending balance at Mar. 31, 2025 443,114     $ 79 305,531 (1,001) 143,159     $ (4,654)    
Ending balance, treasury stock (in shares) at Mar. 31, 2025                   (152,000)    
Beginning balance (in shares) at Dec. 31, 2024                     1,467,000 0
Beginning balance at Dec. 31, 2024                     $ 824,488 $ 0
Ending balance (in shares) at Mar. 31, 2025                     1,467,000 0
Ending balance at Mar. 31, 2025                     $ 824,488 $ 0
Mezzanine Equity                        
Dividends paid (in USD per share)   $ 4.62                    
Beginning balance (in shares) at Dec. 31, 2024       235,087,000                
Beginning balance at Dec. 31, 2024 399,929     $ 79 300,164 (3,250) 105,521     $ (2,585)    
Beginning balance, treasury stock (in shares) at Dec. 31, 2024                   (73,000)    
Stockholders’ Equity                        
Foreign currency translation 5,758                      
Net income (loss) 83,260                      
Ending balance (in shares) at Sep. 30, 2025       257,970,000                
Ending balance at Sep. 30, 2025 1,203,110     $ 101 1,041,001 2,508 165,480     $ (5,980)    
Ending balance, treasury stock (in shares) at Sep. 30, 2025                   (186,000)    
Beginning balance (in shares) at Dec. 31, 2024                     1,467,000 0
Beginning balance at Dec. 31, 2024                     $ 824,488 $ 0
Ending balance (in shares) at Sep. 30, 2025                     1,467,000 390,000
Ending balance at Sep. 30, 2025                     $ 852,355 $ 907,920
Beginning balance (in shares) at Mar. 31, 2025       235,435,000                
Beginning balance at Mar. 31, 2025 443,114     $ 79 305,531 (1,001) 143,159     $ (4,654)    
Beginning balance, treasury stock (in shares) at Mar. 31, 2025                   (152,000)    
Stockholders’ Equity                        
Stock-based compensation 6,434       6,434              
Stock option exercises, RSUs and PSUs converted (in shares)       60,000                
Stock option exercises, RSUs and PSUs converted 10       10              
Dividends, preferred stock   $ (6,851)           (6,851)        
Issuance of common stock as consideration for acquisition (in shares)       22,451,000                
Issuance of Common Stock as consideration for acquisition 721,964     $ 22 721,942              
Repurchase of Common Stock (in shares)                   (25,000)    
Repurchase of Common Stock (879)                 $ (879)    
Foreign currency translation 3,179         3,179            
Net income (loss) 99,855           99,855          
Ending balance (in shares) at Jun. 30, 2025       257,946,000                
Ending balance at Jun. 30, 2025 1,266,826     $ 101 1,033,917 2,178 236,163     $ (5,533)    
Ending balance, treasury stock (in shares) at Jun. 30, 2025                   (177,000)    
Beginning balance (in shares) at Mar. 31, 2025                     1,467,000 0
Beginning balance at Mar. 31, 2025                     $ 824,488 $ 0
Ending balance (in shares) at Jun. 30, 2025                     1,467,000 0
Ending balance at Jun. 30, 2025                     $ 824,488 $ 0
Mezzanine Equity                        
Dividends paid (in USD per share)   $ 4.67                    
Stock-based compensation 7,384       7,384              
Stock option exercises, RSUs and PSUs converted (in shares)       24,000                
Stock option exercises, RSUs and PSUs converted 0                      
Issuance of Series B Preferred Stock (300)       (300)              
Dividends, preferred stock   $ (6,941) $ (2,728)         (6,941) $ (2,728)      
Repurchase of Common Stock (in shares)                   (9,000)    
Repurchase of Common Stock (447)                 $ (447)    
Foreign currency translation 330         330            
Net income (loss) (61,014)           (61,014)          
Ending balance (in shares) at Sep. 30, 2025       257,970,000                
Ending balance at Sep. 30, 2025 $ 1,203,110     $ 101 1,041,001 2,508 165,480     $ (5,980)    
Ending balance, treasury stock (in shares) at Sep. 30, 2025                   (186,000)    
Mezzanine Equity                        
Modification of Series A Preferred Stock                     $ 27,867  
Issuance of Series B Preferred Stock (in shares)                       390,000
Issuance of Series B Preferred Stock                       $ 907,920
Ending balance (in shares) at Sep. 30, 2025                     1,467,000 390,000
Ending balance at Sep. 30, 2025                     $ 852,355 $ 907,920
Mezzanine Equity                        
Dividends paid (in USD per share)   $ 4.73 $ 6.99                  
Beginning balance (in shares) at Dec. 31, 2025 256,906,000     258,108,000                
Beginning balance at Dec. 31, 2025 $ 1,181,467     $ 101 1,050,518 3,162 175,912     $ (48,226)    
Beginning balance, treasury stock (in shares) at Dec. 31, 2025 (1,202,000)                 (1,202,000)    
Stockholders’ Equity                        
Stock-based compensation $ 7,626       7,626              
Stock option exercises, RSUs and PSUs converted (in shares)       493,000                
Dividends, preferred stock   $ (6,781) $ (7,211)         (6,781) (7,211)      
Repurchase of Common Stock (in shares)                   (850,000)    
Repurchase of Common Stock (32,895)                 $ (32,895)    
Foreign currency translation (1,543)         (1,543)            
Net income (loss) 110,099           110,099          
Ending balance (in shares) at Mar. 31, 2026       258,601,000                
Ending balance at Mar. 31, 2026 $ 1,250,762     $ 101 1,058,144 1,619 272,019     $ (81,121)    
Ending balance, treasury stock (in shares) at Mar. 31, 2026                   (2,052,000)    
Beginning balance (in shares) at Dec. 31, 2025   1,467,000 390,000               1,467,000 390,000
Beginning balance at Dec. 31, 2025   $ 852,355 [1] $ 907,620 [1]               $ 852,355 $ 907,620
Ending balance (in shares) at Mar. 31, 2026                     1,467,000 390,000
Ending balance at Mar. 31, 2026                     $ 852,355 $ 907,620
Mezzanine Equity                        
Dividends paid (in USD per share)   $ 4.62 $ 18.49                  
Beginning balance (in shares) at Dec. 31, 2025 256,906,000     258,108,000                
Beginning balance at Dec. 31, 2025 $ 1,181,467     $ 101 1,050,518 3,162 175,912     $ (48,226)    
Beginning balance, treasury stock (in shares) at Dec. 31, 2025 (1,202,000)                 (1,202,000)    
Stockholders’ Equity                        
Foreign currency translation $ (3,125)                      
Net income (loss) $ 292,347                      
Ending balance (in shares) at Sep. 30, 2026 251,725,000     258,728,000                
Ending balance at Sep. 30, 2026 $ 1,275,368     $ 101 1,078,166 37 425,817     $ (228,753)    
Ending balance, treasury stock (in shares) at Sep. 30, 2026 (7,003,000)                 (7,003,000)    
Beginning balance (in shares) at Dec. 31, 2025   1,467,000 390,000               1,467,000 390,000
Beginning balance at Dec. 31, 2025   $ 852,355 [1] $ 907,620 [1]               $ 852,355 $ 907,620
Ending balance (in shares) at Sep. 30, 2026   1,467,000 390,000               1,467,000 390,000
Ending balance at Sep. 30, 2026   $ 852,355 [1] $ 907,620 [1]               $ 852,355 $ 907,620
Beginning balance (in shares) at Mar. 31, 2026       258,601,000                
Beginning balance at Mar. 31, 2026 $ 1,250,762     $ 101 1,058,144 1,619 272,019     $ (81,121)    
Beginning balance, treasury stock (in shares) at Mar. 31, 2026                   (2,052,000)    
Stockholders’ Equity                        
Stock-based compensation 10,565       10,565              
Stock option exercises, RSUs and PSUs converted (in shares)       73,000                
Dividends, preferred stock   $ (6,856) $ (7,291)         (6,856) (7,291)      
Repurchase of Common Stock (in shares)                   (3,310,000)    
Repurchase of Common Stock (102,348)                 $ (102,348)    
Issuance of common stock under ESPP (in shares)       29,000                
Issuance of Common Stock under ESPP 743       743              
Foreign currency translation (1,284)         (1,284)            
Net income (loss) 55,293           55,293          
Ending balance (in shares) at Jun. 30, 2026       258,703,000                
Ending balance at Jun. 30, 2026 1,199,584     $ 101 1,069,452 335 313,165     $ (183,469)    
Ending balance, treasury stock (in shares) at Jun. 30, 2026                   (5,362,000)    
Beginning balance (in shares) at Mar. 31, 2026                     1,467,000 390,000
Beginning balance at Mar. 31, 2026                     $ 852,355 $ 907,620
Ending balance (in shares) at Jun. 30, 2026                     1,467,000 390,000
Ending balance at Jun. 30, 2026                     $ 852,355 $ 907,620
Mezzanine Equity                        
Dividends paid (in USD per share)   $ 4.67 $ 18.69                  
Stock-based compensation 8,714       8,714              
Stock option exercises, RSUs and PSUs converted (in shares)       25,000                
Dividends, preferred stock   $ (6,932) $ (7,372)         $ (6,932) $ (7,372)      
Repurchase of Common Stock (in shares)                   (1,641,000)    
Repurchase of Common Stock (45,284)                 $ (45,284)    
Foreign currency translation (298)         (298)            
Net income (loss) $ 126,956           126,956          
Ending balance (in shares) at Sep. 30, 2026 251,725,000     258,728,000                
Ending balance at Sep. 30, 2026 $ 1,275,368     $ 101 $ 1,078,166 $ 37 $ 425,817     $ (228,753)    
Ending balance, treasury stock (in shares) at Sep. 30, 2026 (7,003,000)                 (7,003,000)    
Ending balance (in shares) at Sep. 30, 2026   1,467,000 390,000               1,467,000 390,000
Ending balance at Sep. 30, 2026   $ 852,355 [1] $ 907,620 [1]               $ 852,355 $ 907,620
Mezzanine Equity                        
Dividends paid (in USD per share)   $ 4.73 $ 18.90                  
[1] Amounts in this line item are associated with a related party for all periods presented.