v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN REDEEMABLE NON-CONTROLLING INTEREST, REDEEMABLE PREFERRED NON-CONTROLLING INTEREST AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)
$ in Thousands
Total
As Previously Reported
Revision of Prior Period, Accounting Standards Update, Adjustment
Common Class A
Common Class B
Common Class D
Redeemable preferred non-controlling interests
Redeemable preferred non-controlling interests
As Previously Reported
Redeemable non-controlling interests
Redeemable non-controlling interests
As Previously Reported
Common stock
Common Class A
Common stock
Common Class A
As Previously Reported
Common stock
Common Class B
Common stock
Common Class B
As Previously Reported
Common stock
Common Class D
Common stock
Common Class D
As Previously Reported
Additional Paid-in capital
Additional Paid-in capital
As Previously Reported
Retained earnings (accumulated deficit)
Retained earnings (accumulated deficit)
As Previously Reported
Retained earnings (accumulated deficit)
Revision of Prior Period, Accounting Standards Update, Adjustment
Accumulated other comprehensive income (loss)
Accumulated other comprehensive income (loss)
As Previously Reported
Non-redeemable non-controlling interests
Non-redeemable non-controlling interests
As Previously Reported
Treasury Stock
Common Class A
Treasury Stock
Common Class A
As Previously Reported
Beginning balance (in shares) at Dec. 31, 2024                     30,065,260 30,065,260 71,500,000 71,500,000 72,899,037 72,899,037                      
Beginning balance, treasury (in shares) at Dec. 31, 2024                                                   (1,635,783) (1,635,783)
Beginning balance at Dec. 31, 2024 $ (156,237) $ (147,831) $ (8,406)               $ 3 $ 3 $ 7 $ 7 $ 7 $ 7 $ 0 $ 0 $ (145,410) $ (137,004) $ (8,406) $ 152 $ 152 $ 618 $ 618 $ (11,614) $ (11,614)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                      
Net (loss) income (965)                                   (1,041)         76      
Other comprehensive income (loss) (94)                                         (94)          
Issuance of Class A common stock for vesting of equity awards net of tax withholdings (in shares)                     542,404                                
Issuance of Class A common stock for vesting of equity awards net of tax withholdings (382)                               (382)                    
Stock-based compensation 293                               293                    
Distributions to non-redeemable non-controlling interests (60)                                             (60)      
Change in redemption value of redeemable non-controlling interests 199,766                               89   199,677                
Accretion of the redeemable preferred non-controlling interest to its redemption amount (437)                                   (437)                
Ending balance (in shares) at Mar. 31, 2025                     30,607,664   71,500,000   72,899,037                        
Ending balance, treasury (in shares) at Mar. 31, 2025                                                   (1,635,783)  
Ending balance at Mar. 31, 2025 41,884                   $ 3   $ 7   $ 7   0   52,789     58   634   $ (11,614)  
Beginning balance at Dec. 31, 2024             $ 130,000 $ 130,000 $ 482,863 $ 482,863                                  
Increase (Decrease) In Temporary Equity And Redeemable Noncontrolling Interest [Abstract]                                                      
Net (loss) income                 (5,187)                                    
Other comprehensive income (loss)                 (469)                                    
Stock-based compensation                 1,458                                    
Change in redemption value of Redeemable non-controlling interests                 (199,766)                                    
Payment of preferred dividend             (2,617)                                        
Accretion of the redeemable preferred non-controlling interest to its redemption amount             (2,617)   (2,180)                                    
Ending balance at Mar. 31, 2025             130,000   276,719                                    
Beginning balance (in shares) at Dec. 31, 2024                     30,065,260 30,065,260 71,500,000 71,500,000 72,899,037 72,899,037                      
Beginning balance, treasury (in shares) at Dec. 31, 2024                                                   (1,635,783) (1,635,783)
Beginning balance at Dec. 31, 2024 (156,237) (147,831) $ (8,406)               $ 3 $ 3 $ 7 $ 7 $ 7 $ 7 0 $ 0 (145,410) $ (137,004) $ (8,406) 152 $ 152 618 $ 618 $ (11,614) $ (11,614)
Ending balance (in shares) at Sep. 30, 2025                     30,631,960   121,500,000   22,899,037                        
Ending balance, treasury (in shares) at Sep. 30, 2025                                                   (1,635,783)  
Ending balance at Sep. 30, 2025 (32,155)                   $ 3   $ 12   $ 2   0   (23,334)     (12)   2,788   $ (11,614)  
Beginning balance at Dec. 31, 2024             130,000 $ 130,000 482,863 $ 482,863                                  
Increase (Decrease) In Temporary Equity And Redeemable Noncontrolling Interest [Abstract]                                                      
Change in redemption value of Redeemable non-controlling interests (7,851)                                                    
Ending balance at Sep. 30, 2025             130,000   342,528                                    
Beginning balance (in shares) at Mar. 31, 2025                     30,607,664   71,500,000   72,899,037                        
Beginning balance, treasury (in shares) at Mar. 31, 2025                                                   (1,635,783)  
Beginning balance at Mar. 31, 2025 41,884                   $ 3   $ 7   $ 7   0   52,789     58   634   $ (11,614)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                      
Net (loss) income (825)                                   (985)         160      
Other comprehensive income (loss) (56)                                         (56)          
Issuance of Class A common stock under the ATM program (in shares)                     17,104                                
Issuance of Class A common stock under the ATM program 58                               58                    
Shares conversion (in shares)                         50,000,000   (50,000,000)                        
Share conversion 0                       $ 5   $ (5)                        
Issuance of Class A common stock for vesting of equity awards net of tax withholdings (in shares)                     7,192                                
Issuance of Class A common stock for vesting of equity awards net of tax withholdings (5)                               (5)                    
Stock-based compensation 369                               369                    
Distributions to non-redeemable non-controlling interests (50)                                             (50)      
Change in redemption value of redeemable non-controlling interests (94,357)                               (422)   (93,935)                
Capital contribution from non-redeemable non-controlling interests 1,991                                             1,991      
Accretion of the redeemable preferred non-controlling interest to its redemption amount (438)                                   (438)                
Ending balance (in shares) at Jun. 30, 2025                     30,631,960   121,500,000   22,899,037                        
Ending balance, treasury (in shares) at Jun. 30, 2025                                                   (1,635,783)  
Ending balance at Jun. 30, 2025 (51,429)                   $ 3   $ 12   $ 2   0   (42,569)     2   2,735   $ (11,614)  
Beginning balance at Mar. 31, 2025             130,000   276,719                                    
Increase (Decrease) In Temporary Equity And Redeemable Noncontrolling Interest [Abstract]                                                      
Net (loss) income                 (4,901)                                    
Other comprehensive income (loss)                 (282)                                    
Stock-based compensation                 1,835                                    
Change in redemption value of Redeemable non-controlling interests                 94,357                                    
Payment of preferred dividend             (2,617)                                        
Accretion of the redeemable preferred non-controlling interest to its redemption amount             (2,617)   (2,180)                                    
Ending balance at Jun. 30, 2025             130,000   365,548                                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                      
Net (loss) income (242)                                   (335)         93      
Other comprehensive income (loss) (14)                                         (14)          
Stock-based compensation 150                               150                    
Distributions to non-redeemable non-controlling interests (40)                                             (40)      
Change in redemption value of redeemable non-controlling interests 19,858                               (150)   20,008                
Accretion of the redeemable preferred non-controlling interest to its redemption amount (438)                                   (438)                
Ending balance (in shares) at Sep. 30, 2025                     30,631,960   121,500,000   22,899,037                        
Ending balance, treasury (in shares) at Sep. 30, 2025                                                   (1,635,783)  
Ending balance at Sep. 30, 2025 (32,155)                   $ 3   $ 12   $ 2   0   (23,334)     (12)   2,788   $ (11,614)  
Increase (Decrease) In Temporary Equity And Redeemable Noncontrolling Interest [Abstract]                                                      
Net (loss) income                 (1,668)                                    
Other comprehensive income (loss)                 (67)                                    
Stock-based compensation                 752                                    
Change in redemption value of Redeemable non-controlling interests (2,617)               (19,858)                                    
Payment of preferred dividend             (2,617)                                        
Accretion of the redeemable preferred non-controlling interest to its redemption amount             (2,617)   (2,179)                                    
Ending balance at Sep. 30, 2025             130,000   342,528                                    
Beginning balance (in shares) at Dec. 31, 2025       28,997,378 121,500,000 22,899,037         30,633,161   121,500,000   22,899,037                        
Beginning balance, treasury (in shares) at Dec. 31, 2025       (1,635,783)                                           (1,635,783)  
Beginning balance at Dec. 31, 2025 (61,430) [1] (10,141)                 $ 3   $ 12   $ 2   0   (52,596)     (26)   2,789   $ (11,614)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                      
Net (loss) income (763)                                   (845)         82      
Other comprehensive income (loss) 210                                         210          
Issuance of Class A common stock for vesting of equity awards net of tax withholdings (in shares)                     1,360,166                                
Issuance of Class A common stock for vesting of equity awards net of tax withholdings (1,343)                               (1,343)                    
Stock-based compensation 357                               357                    
Distributions to non-redeemable non-controlling interests (65)                                             (65)      
Change in redemption value of redeemable non-controlling interests 25,237                               986   24,251                
Capital contribution from non-redeemable non-controlling interests 7,402                                             7,402      
Accretion of the redeemable preferred non-controlling interest to its redemption amount (1,656)                                   (1,656)                
Ending balance (in shares) at Mar. 31, 2026                     31,993,327   121,500,000   22,899,037                        
Ending balance, treasury (in shares) at Mar. 31, 2026                                                   (1,635,783)  
Ending balance at Mar. 31, 2026 (32,051)                   $ 3   $ 12   $ 2   0   (30,846)     184   10,208   $ (11,614)  
Beginning balance at Dec. 31, 2025 [1]             130,000   377,898                                    
Increase (Decrease) In Temporary Equity And Redeemable Noncontrolling Interest [Abstract]                                                      
Net (loss) income                 (4,019)                                    
Other comprehensive income (loss)                 1,005                                    
Stock-based compensation                 1,698                                    
Change in redemption value of Redeemable non-controlling interests                 (25,237)                                    
Payment of preferred dividend             (3,444)                                        
Redeemable preferred non-controlling interest issuance, net of issuance costs and warrants             113,910                                        
Redemption of redeemable preferred non‑controlling interest             (100,000)                                        
Accretion of the redeemable preferred non-controlling interest to its redemption amount             (9,534)   (7,878)                                    
Ending balance at Mar. 31, 2026             150,000   343,467                                    
Beginning balance (in shares) at Dec. 31, 2025       28,997,378 121,500,000 22,899,037         30,633,161   121,500,000   22,899,037                        
Beginning balance, treasury (in shares) at Dec. 31, 2025       (1,635,783)                                           (1,635,783)  
Beginning balance at Dec. 31, 2025 (61,430) [1] (10,141)                 $ 3   $ 12   $ 2   0   (52,596)     (26)   2,789   $ (11,614)  
Ending balance (in shares) at Sep. 30, 2026       30,357,544 121,500,000 22,899,037         31,993,327   121,500,000   22,899,037                        
Ending balance, treasury (in shares) at Sep. 30, 2026       (1,635,783)                                           (1,635,783)  
Ending balance at Sep. 30, 2026 52,949 [1] 102,102                 $ 3   $ 12   $ 2   0   49,457     809   14,280   $ (11,614)  
Beginning balance at Dec. 31, 2025 [1]             130,000   377,898                                    
Increase (Decrease) In Temporary Equity And Redeemable Noncontrolling Interest [Abstract]                                                      
Change in redemption value of Redeemable non-controlling interests (20,416)           (8,897)                                        
Payment of preferred dividend             (11,518)                                        
Redeemable preferred non-controlling interest issuance, net of issuance costs and warrants 34,800                                                    
Ending balance at Sep. 30, 2026 [1]             187,095   257,023                                    
Beginning balance (in shares) at Mar. 31, 2026                     31,993,327   121,500,000   22,899,037                        
Beginning balance, treasury (in shares) at Mar. 31, 2026                                                   (1,635,783)  
Beginning balance at Mar. 31, 2026 (32,051)                   $ 3   $ 12   $ 2   0   (30,846)     184   10,208   $ (11,614)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                      
Net (loss) income (493)                                   (630)         137      
Other comprehensive income (loss) 232                                         232          
Issuance of Class A common stock for vesting of equity awards net of tax withholdings (29)                               (29)                    
Stock-based compensation 358                               358                    
Change in redemption value of redeemable non-controlling interests 19,623                               (329)   19,952                
Capital contribution from non-redeemable non-controlling interests 1,200                                             1,200      
Accretion of the redeemable preferred non-controlling interest to its redemption amount (756)                                   (756)                
Ending balance (in shares) at Jun. 30, 2026                     31,993,327   121,500,000   22,899,037                        
Ending balance, treasury (in shares) at Jun. 30, 2026                                                   (1,635,783)  
Ending balance at Jun. 30, 2026 (11,916)                   $ 3   $ 12   $ 2   0   (12,280)     416   11,545   $ (11,614)  
Beginning balance at Mar. 31, 2026             150,000   343,467                                    
Increase (Decrease) In Temporary Equity And Redeemable Noncontrolling Interest [Abstract]                                                      
Net (loss) income                 (2,991)                                    
Other comprehensive income (loss)                 1,095                                    
Stock-based compensation                 1,702                                    
Change in redemption value of Redeemable non-controlling interests                 (19,623)                                    
Payment of preferred dividend             (3,841)                                        
Redeemable preferred non-controlling interest issuance, net of issuance costs and warrants             7,888                                        
Accretion of the redeemable preferred non-controlling interest to its redemption amount             (4,353)   (3,597)                                    
Ending balance at Jun. 30, 2026             158,400   320,053                                    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                      
Net (loss) income 765                                   190         575      
Other comprehensive income (loss) 393                                         393          
Stock-based compensation 394                               394                    
Distributions to non-redeemable non-controlling interests (240)                                             (240)      
Change in redemption value of redeemable non-controlling interests 62,288                               (394)   62,682                
Capital contribution from non-redeemable non-controlling interests 2,400                                             2,400      
Accretion of the redeemable preferred non-controlling interest to its redemption amount (1,135)                                   (1,135)                
Ending balance (in shares) at Sep. 30, 2026       30,357,544 121,500,000 22,899,037         31,993,327   121,500,000   22,899,037                        
Ending balance, treasury (in shares) at Sep. 30, 2026       (1,635,783)                                           (1,635,783)  
Ending balance at Sep. 30, 2026 52,949 [1] $ 102,102                 $ 3   $ 12   $ 2   $ 0   $ 49,457     $ 809   $ 14,280   $ (11,614)  
Increase (Decrease) In Temporary Equity And Redeemable Noncontrolling Interest [Abstract]                                                      
Net (loss) income                 895                                    
Other comprehensive income (loss)                 1,880                                    
Stock-based compensation                 1,877                                    
Change in redemption value of Redeemable non-controlling interests (6,528)               (62,288)                                    
Payment of preferred dividend             (4,233)                                        
Redeemable preferred non-controlling interest issuance, net of issuance costs and warrants $ 26,400           26,400                                        
Accretion of the redeemable preferred non-controlling interest to its redemption amount             (6,528)   (5,394)                                    
Ending balance at Sep. 30, 2026 [1]             $ 187,095   $ 257,023                                    
[1] Includes amounts related to consolidated VIEs, which are presented separately in the table below.