Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Shareholders' Equity

v3.25.3
Condensed Consolidated Statements of Shareholders' Equity - USD ($)
$ in Thousands
Total
Series B Conversion
Series C Conversion
Preferred Class B
Common Stock
Common Stock
Series B Conversion
Common Stock
Series C Conversion
Preferred Stock
Preferred Class B
Preferred Stock
Preferred Class B
Series B Conversion
Preferred Stock
Preferred Class B
Series C Conversion
Preferred Stock
Preferred Class C
Preferred Stock
Preferred Class C
Series C Conversion
Additional Paid-in Capital
Additional Paid-in Capital
Series B Conversion
Additional Paid-in Capital
Series C Conversion
Accumulated Other Comprehensive (Loss) Income
Accumulated Deficit
Non-controlling Interest
Non-controlling Interest
Series B Conversion
Common stock, Beginning balance (in shares) at Dec. 31, 2023         25,671,000                            
Beginning balance at Dec. 31, 2023 $ 764,261       $ 257     $ 0     $ 0   $ 283,684     $ 0 $ 480,320 $ 0  
Preferred stock, Beginning balance (in shares) at Dec. 31, 2023               0     0                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Net (loss) income (88,794)                               (61,712) (27,082)  
Foreign currency translation adjustments (151)                             (151)      
Issuance of share-based awards (in shares)         100,000                            
Issuance of share-based awards 0       $ 1               (1)            
Payment of minimum tax withholdings on share-based awards (in shares)         (33,000)                            
Payment of minimum tax withholdings on share-based awards (1,326)                               (1,326)    
Shares issued - acquisition (in shares)         700,000     4,000     1,000                
Shares issued - acquisition 656,881       $ 7               223,425         433,449  
Share-based compensation expense 1,567                       1,567            
Common stock, Ending balance (in shares) at Mar. 31, 2024         26,438,000                            
Preferred stock, Ending balance (in shares) at Mar. 31, 2024               4,000     1,000                
Ending balance at Mar. 31, 2024 1,332,438       $ 265     $ 0     $ 0   508,675     (151) 417,282 406,367  
Common stock, Beginning balance (in shares) at Dec. 31, 2023         25,671,000                            
Beginning balance at Dec. 31, 2023 764,261       $ 257     $ 0     $ 0   283,684     0 480,320 0  
Preferred stock, Beginning balance (in shares) at Dec. 31, 2023               0     0                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Net (loss) income (1,095,476)                                    
Foreign currency translation adjustments (824)                                    
Common stock, Ending balance (in shares) at Sep. 30, 2024         28,689,000                            
Preferred stock, Ending balance (in shares) at Sep. 30, 2024               11,000     0                
Ending balance at Sep. 30, 2024 336,534       $ 287     $ 0     $ 0   528,255     (824) (301,634) 110,450  
Common stock, Beginning balance (in shares) at Mar. 31, 2024         26,438,000                            
Beginning balance at Mar. 31, 2024 1,332,438       $ 265     $ 0     $ 0   508,675     (151) 417,282 406,367  
Preferred stock, Beginning balance (in shares) at Mar. 31, 2024               4,000     1,000                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Net (loss) income (971,347)                               (645,433) (325,914)  
Foreign currency translation adjustments (849)                             (849)      
Issuance of share-based awards (in shares)         30,000                            
Share conversions (in shares)             1,210,000     8,000   (1,000)              
Share conversions     $ 0       $ 12               $ (12)        
Share-based compensation expense 3,620                       3,620            
Common stock issued under employee stock purchase plan (in shares)         21,000                            
Common stock issued under employee stock purchase plan 355                       355            
Common stock, Ending balance (in shares) at Jun. 30, 2024         27,699,000                            
Preferred stock, Ending balance (in shares) at Jun. 30, 2024               12,000     0                
Ending balance at Jun. 30, 2024 362,217       $ 277     $ 0     $ 0   512,638     (1,000) (228,151) 80,453  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Net (loss) income (35,335)                               (73,408) 38,073  
Foreign currency translation adjustments 176                             176      
Issuance of share-based awards (in shares)         24,000                            
Payment of minimum tax withholdings on share-based awards (in shares)         (1,000)                            
Payment of minimum tax withholdings on share-based awards (75)                               (75)    
Tax receivable agreement liability 4,650                       4,650            
Share conversions (in shares)           967,000     (1,000)                    
Share conversions   $ 0       $ 10               $ 8,066         $ (8,076)
Share-based compensation expense 2,901                       2,901            
Common stock, Ending balance (in shares) at Sep. 30, 2024         28,689,000                            
Preferred stock, Ending balance (in shares) at Sep. 30, 2024               11,000     0                
Ending balance at Sep. 30, 2024 $ 336,534       $ 287     $ 0     $ 0   528,255     (824) (301,634) 110,450  
Common stock, Beginning balance (in shares) at Dec. 31, 2024 29,761,197       29,761,000                            
Beginning balance at Dec. 31, 2024 $ 285,868       $ 298     $ 0     $ 0   542,392     (2,732) (338,230) 84,140  
Preferred stock, Beginning balance (in shares) at Dec. 31, 2024 0     10,088       10,000     0                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Net (loss) income $ (61,191)                               (50,637) (10,554)  
Foreign currency translation adjustments 265                             265      
Issuance of share-based awards (in shares)         97,000                            
Payment of minimum tax withholdings on share-based awards (in shares)         (30,000)                            
Payment of minimum tax withholdings on share-based awards (894)                               (894)    
Share conversions (in shares)           585,000     (1,000)                    
Share conversions   0       $ 6               1,208         (1,214)
Share-based compensation expense 2,958                       2,958            
Common stock, Ending balance (in shares) at Mar. 31, 2025         30,413,000                            
Preferred stock, Ending balance (in shares) at Mar. 31, 2025               9,000     0                
Ending balance at Mar. 31, 2025 $ 227,006       $ 304     $ 0     $ 0   546,558     (2,467) (389,761) 72,372  
Common stock, Beginning balance (in shares) at Dec. 31, 2024 29,761,197       29,761,000                            
Beginning balance at Dec. 31, 2024 $ 285,868       $ 298     $ 0     $ 0   542,392     (2,732) (338,230) 84,140  
Preferred stock, Beginning balance (in shares) at Dec. 31, 2024 0     10,088       10,000     0                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Net (loss) income $ (105,312)                                    
Foreign currency translation adjustments $ 4,856                                    
Common stock, Ending balance (in shares) at Sep. 30, 2025 31,204,897       31,205,000                            
Preferred stock, Ending balance (in shares) at Sep. 30, 2025 0     8,869       8,000     0                
Ending balance at Sep. 30, 2025 $ 195,842       $ 312     $ 0     $ 0   556,101     2,124 (418,753) 56,058  
Common stock, Beginning balance (in shares) at Mar. 31, 2025         30,413,000                            
Beginning balance at Mar. 31, 2025 227,006       $ 304     $ 0     $ 0   546,558     (2,467) (389,761) 72,372  
Preferred stock, Beginning balance (in shares) at Mar. 31, 2025               9,000     0                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Net (loss) income (20,364)                               (12,583) (7,781)  
Foreign currency translation adjustments 4,561                             4,561      
Issuance of share-based awards (in shares)         99,000                            
Payment of minimum tax withholdings on share-based awards (in shares)         (2,000)                            
Payment of minimum tax withholdings on share-based awards (107)                               (107)    
Share conversions (in shares)           80,000                          
Share conversions   0       $ 1               143         (144)
Share-based compensation expense 4,711                       4,711            
Common stock issued under employee stock purchase plan (in shares)         17,000                            
Common stock issued under employee stock purchase plan 434       $ 1               433            
Common stock, Ending balance (in shares) at Jun. 30, 2025         30,607,000                            
Preferred stock, Ending balance (in shares) at Jun. 30, 2025               9,000     0                
Ending balance at Jun. 30, 2025 216,241       $ 306     $ 0     $ 0   551,845     2,094 (402,451) 64,447  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                      
Net (loss) income (23,757)                               (16,250) (7,507)  
Foreign currency translation adjustments 30                             30      
Issuance of share-based awards (in shares)         49,000                            
Payment of minimum tax withholdings on share-based awards (in shares)         (5,000)                            
Payment of minimum tax withholdings on share-based awards (52)                               (52)    
Share conversions (in shares)           554,000     (1,000)                    
Share conversions   $ 0       $ 6               $ 876         $ (882)
Share-based compensation expense $ 3,380                       3,380            
Common stock, Ending balance (in shares) at Sep. 30, 2025 31,204,897       31,205,000                            
Preferred stock, Ending balance (in shares) at Sep. 30, 2025 0     8,869       8,000     0                
Ending balance at Sep. 30, 2025 $ 195,842       $ 312     $ 0     $ 0   $ 556,101     $ 2,124 $ (418,753) $ 56,058