v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 555,359 $ 27,554
Accounts receivable—trade, net of allowances for credit losses of $886 and $886, respectively 515,688 351,717
Unbilled revenue 253,779 253,653
Inventories 185,368 188,125
Prepaid and other current assets 56,482 56,921
Total current assets 1,566,676 877,970
Property and equipment, net 2,263,112 2,054,185
Finance lease right-of-use assets 319,913 342,469
Operating lease right-of-use assets 57,584 64,983
Investments 191,330 123,888
Other assets 89,481 94,810
Total assets 4,488,096 3,558,305
Current liabilities:    
Accounts payable including amounts due to related parties of $— and $—, respectively 417,263 358,623
Accrued liabilities 256,914 232,147
Current portion of payable pursuant to tax receivable agreements 0 7,888
Current portion of long-term debt 11,906 5,097
Current portion of finance lease liabilities 83,046 94,202
Current portion of operating lease liabilities 19,613 22,396
Total current liabilities 788,742 720,353
Long-term debt, net of current portion and deferred financing costs of $35,410 and $73, respectively 1,279,941 241,510
Deferred tax liability 170,194 195,602
Payable pursuant to tax receivable agreements 66,870 66,870
Noncurrent portion of finance lease liabilities 181,168 213,296
Noncurrent portion of operating lease liabilities 37,427 41,785
Total liabilities 2,524,342 1,479,416
Commitments & contingencies (Note 14)
Stockholders’ equity:    
Preferred Stock, $0.01 par value, 10,000 shares authorized and none issued and outstanding 0 0
Common Stock:    
Additional paid in capital 832,973 978,384
Retained earnings 1,148,516 1,112,747
Accumulated other comprehensive loss (19,367) (13,862)
Total stockholders’ equity 1,963,754 2,078,889
Total liabilities and equity 4,488,096 3,558,305
Class A, $0.01 par value, 400,000,000 shares authorized and 163,191,416 issued and outstanding as of June 30, 2026 and 161,979,222 issued and outstanding as of December 31, 2025    
Common Stock:    
Common stock 1,632 1,620
Class B, $0.01 par value, 400,000,000 shares authorized and none issued and outstanding    
Common Stock:    
Common stock $ 0 $ 0