v3.25.4
PARENT COMPANY INFORMATION - Condensed Balance Sheets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current assets:        
Cash and cash equivalents $ 325,927 $ 198,456    
Accounts receivable, net 64,363 56,048    
Prepaid expenses and other current assets 34,049 23,173    
Total current assets 563,973 394,024    
Other assets:        
Other assets, net 3,497 1,162    
Total assets 2,653,007 2,416,394    
Current liabilities:        
Accrued expenses and other current liabilities 47,212 30,450    
Total current liabilities 175,118 62,488    
Founders advisory fees payable - related party 440,697 240,083    
Total liabilities 1,519,688 1,259,124    
Stockholders’ equity:        
Total stockholders’ equity 1,133,319 1,157,270 $ 1,152,295 $ 1,138,900
Total liabilities and stockholders’ equity 2,653,007 2,416,394    
Nonrelated Party        
Current liabilities:        
Accounts payable 30,301 23,519    
Preferred stock 115,904 109,966    
Related Party        
Current liabilities:        
Accounts payable 95,726 6,677    
Preferred stock 1,293 2,831    
Parent Company        
Current assets:        
Cash and cash equivalents 23,513 38,858    
Prepaid expenses and other current assets 1,302 1,234    
Total current assets 41,783 43,634    
Other assets:        
Investment in subsidiaries 1,881,619 1,584,999    
Other assets, net 0 133    
Total assets 1,923,402 1,628,766    
Current liabilities:        
Accrued expenses and other current liabilities 5,208 4,997    
Total current liabilities 227,190 98,047    
Founders advisory fees payable - related party 440,697 240,083    
Intercompany note payable 4,999 20,569    
Total liabilities 790,083 471,496    
Stockholders’ equity:        
Total stockholders’ equity 1,133,319 1,157,270    
Total liabilities and stockholders’ equity 1,923,402 1,628,766    
Parent Company | Affiliated Entity        
Current assets:        
Accounts receivable, net 16,968 3,542    
Current liabilities:        
Accounts payable 125,711 85,711    
Parent Company | Nonrelated Party        
Current liabilities:        
Accounts payable 545 662    
Preferred stock 115,904 109,966    
Parent Company | Related Party        
Current liabilities:        
Accounts payable 95,726 6,677    
Preferred stock $ 1,293 $ 2,831