v3.26.1
Description of the business: (Tables)
6 Months Ended
Jun. 30, 2026
Description of the business:  
Schedule of diluted weighted average shares

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Three Months

  ​ ​ ​

Three Months

  ​ ​ ​

Six Months

  ​ ​ ​

Six Months

​

​

Ended

​

Ended

​

Ended

​

Ended

​

  ​ ​ ​

June 30, 2026

  ​ ​ ​

June 30, 2025

​

June 30, 2026

​

June 30, 2025

Weighted average common shares - basic

​

47,921,120

​

47,592,836

​

47,972,542

​

47,804,421

Dilutive effect of stock options

​

—

​

—

​

—

​

—

Dilutive effect of restricted stock

​

508,046

​

—

​

361,382

​

—

Weighted average common shares - diluted

​

48,429,166

​

47,592,836

​

48,333,924

​

47,804,421

Schedule of details unvested shares of restricted common stock as well as the anti-dilutive effects of stock options and restricted stock awards outstanding

​

​

​

​

​

​

​

​

​

​

​

​

Three Months

​

Three Months

​

Six Months

​

Six Months

​

​

Ended

​

Ended

​

Ended

​

Ended

​

  ​ ​ ​

June 30, 2026

  ​ ​ ​

June 30, 2025

  ​ ​ ​

June 30, 2026

  ​ ​ ​

June 30, 2025

Unvested shares of restricted common stock

​

3,289,506

​

1,657,168

​

3,289,506

​

1,657,168

Anti-dilutive options for common stock

​

247,989

​

223,068

​

248,576

​

202,864

Anti-dilutive shares of restricted common stock

​

1,693,891

​

782,800

​

787,174

​

911,907

​

Schedule of stockholders' (Deficit) Equity

The following details the changes in stockholders’ (deficit) equity for the three and six months ended June 30, 2026 and 2025 (in thousands except share data):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Accumulated

​

​

​

​

​

​

​

​

​

​

​

​

​

Additional

​

Other

​

​

​

​

Total

​

​

Common Stock

​

Paid-in

​

Comprehensive

​

Accumulated

​

Stockholders’

​

  ​ ​ ​

Shares

  ​ ​ ​

Amount

  ​ ​ ​

Capital

  ​ ​ ​

Loss

  ​ ​ ​

Deficit

  ​ ​ ​

Deficit

Balance at March 31, 2026

​

50,077,663

​

$

50

​

$

651,538

​

$

(6,327)

​

$

(749,423)

​

$

(104,162)

Forfeitures of shares granted to employees

​

(80,306)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Equity-based compensation

​

—

​

​

—

​

​

8,389

​

​

—

​

​

—

​

​

8,389

Foreign currency translation

​

—

​

​

—

​

​

—

​

​

(2,713)

​

​

—

​

​

(2,713)

Issuances of common stock

​

1,218,379

​

​

1

​

​

—

​

​

—

​

​

—

​

​

1

Dividends paid

​

—

​

​

—

​

​

—

​

​

—

​

​

(2,281)

​

​

(2,281)

Net income

​

—

​

​

—

​

​

—

​

​

—

​

​

66,636

​

​

66,636

Balance at June 30, 2026

​

51,215,736

​

$

51

​

$

659,927

​

$

(9,040)

​

$

(685,068)

​

$

(34,130)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Accumulated

​

​

​

​

​

​

​

​

​

​

​

​

​

Additional

​

Other

​

​

​

​

Total

​

​

Common Stock

​

Paid-in

​

Comprehensive

​

Accumulated

​

Stockholders’

​

  ​ ​ ​

Shares

  ​ ​ ​

Amount

  ​ ​ ​

Capital

  ​ ​ ​

Loss

  ​ ​ ​

Deficit

  ​ ​ ​

Equity

Balance at March 31, 2025

​

49,337,310

​

$

49

​

$

639,248

​

$

(18,933)

​

$

(477,520)

​

$

142,844

Forfeitures of shares granted to employees

 

(59,281)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Equity-based compensation

 

—

​

​

—

​

​

5,422

​

​

—

​

​

—

​

​

5,422

Foreign currency translation

 

—

​

​

—

​

​

—

​

​

17,737

​

​

—

​

​

17,737

Issuances of common stock

 

196,788

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Exercises of options

 

886

​

​

—

​

​

30

​

​

—

​

​

—

​

​

30

Common stock purchases & retirement

​

(229,507)

​

​

—

​

​

(11,998)

​

​

—

​

​

—

​

​

(11,998)

Dividends paid

 

—

​

​

—

​

​

—

​

​

—

​

​

(49,560)

​

​

(49,560)

Net loss

 

—

​

​

—

​

​

—

​

​

—

​

​

(57,807)

​

​

(57,807)

Balance at June 30, 2025

 

49,246,196

​

$

49

​

$

632,702

​

$

(1,196)

​

$

(584,887)

​

$

46,668

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Additional

​

Other

​

​

​

​

Total

​

​

Common Stock

​

Paid-in

​

Comprehensive

​

Accumulated

​

Stockholders’

​

  ​ ​ ​

Shares

  ​ ​ ​

Amount

  ​ ​ ​

Capital

  ​ ​ ​

Loss

  ​ ​ ​

Deficit

  ​ ​ ​

Deficit

Balance at December 31, 2025

 

50,062,158

​

$

50

​

$

643,256

​

$

1,428

​

$

(708,582)

​

$

(63,848)

Forfeitures of shares granted to employees

 

(91,316)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Equity-based compensation

 

—

​

​

—

​

​

16,671

​

​

—

​

​

—

​

​

16,671

Foreign currency translation

 

—

​

​

—

​

​

—

​

​

(10,468)

​

​

—

​

​

(10,468)

Issuances of common stock

 

1,244,894

​

​

1

​

​

—

​

​

—

​

​

—

​

​

1

Dividends paid

​

—

​

​

—

​

​

—

​

​

—

​

​

(3,580)

​

​

(3,580)

Net income

 

—

​

​

—

​

​

—

​

​

—

​

​

27,094

​

​

27,094

Balance at June 30, 2026

 

51,215,736

​

$

51

​

$

659,927

​

$

(9,040)

​

$

(685,068)

​

$

(34,130)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Additional

​

Other

​

​

​

​

Total

​

​

Common Stock

​

Paid-in

​

Comprehensive

​

Accumulated

​

Stockholders’

​

  ​ ​ ​

Shares

  ​ ​ ​

Amount

  ​ ​ ​

Capital

  ​ ​ ​

Loss

  ​ ​ ​

Deficit

  ​ ​ ​

Equity

Balance at December 31, 2024

 

49,034,925

​

$

49

​

$

629,829

​

$

(30,685)

​

$

(376,345)

​

$

222,848

Forfeitures of shares granted to employees

 

(69,541)

​

 

—

​

 

—

​

 

—

​

 

—

​

 

—

Equity-based compensation

 

—

​

 

—

​

 

14,720

​

 

—

​

 

—

​

 

14,720

Foreign currency translation

 

—

​

 

—

​

 

—

​

 

29,489

​

 

—

​

 

29,489

Issuances of common stock

 

507,386

​

 

—

​

 

—

​

 

—

​

 

—

​

 

—

Exercises of options

 

2,933

​

 

—

​

 

151

​

 

—

​

 

—

​

 

151

Common stock purchases & retirement

​

(229,507)

​

​

—

​

​

(11,998)

​

​

—

​

​

—

​

​

(11,998)

Dividends paid

 

—

​

 

—

​

 

—

​

 

—

​

 

(98,693)

​

 

(98,693)

Net loss

 

—

​

 

—

​

 

—

​

 

—

​

 

(109,849)

​

 

(109,849)

Balance at June 30, 2025

 

49,246,196

​

$

49

​

$

632,702

​

$

(1,196)

​

$

(584,887)

​

$

46,668

​

Schedule of revenue for termination fees

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​

​

​

​

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​

​

​

​

​

​

​

​

​

  ​ ​ ​

Three Months

  ​ ​ ​

Three Months

  ​ ​ ​

Six Months

  ​ ​ ​

Six Months

​

​

Ended

​

Ended

​

Ended

​

Ended

(in thousands)

​

June 30, 2026

​

June 30, 2025

​

June 30, 2026

​

June 30, 2025

Service revenue recognized from deferred revenue balance at beginning of period

​

$

2,409

​

$

2,310

​

$

4,528

​

$

4,107

Amortization expense for contract costs

​

 

6,747

​

​

5,562

​

​

13,339

​

​

10,935

Schedule of lease cost

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Three Months

 

Three Months

  ​ ​ ​

Six Months

 

Six Months

​

​

Ended

 

Ended

​

Ended

 

Ended

(Amounts in thousands)

  ​ ​ ​

June 30, 2026

  ​ ​ ​

June 30, 2025

  ​ ​ ​

June 30, 2026

  ​ ​ ​

June 30, 2025

Finance lease cost

 

​

  ​

​

​

​

 

​

​

​

​

​

Amortization of right-of-use assets

​

$

13,553

​

$

13,975

​

$

27,089

​

$

27,891

Interest expense on finance lease liabilities

​

 

12,472

​

​

12,509

​

​

24,985

​

​

23,615

Operating lease cost

​

 

18,169

​

​

18,569

​

​

35,816

​

​

36,013

Total lease costs

​

$

44,194

​

$

45,053

​

$

87,890

​

$

87,519

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Six Months

  ​ ​ ​

Six Months

​

​

​

Ended

​

Ended

​

​

​

June 30, 2026

​

June 30, 2025

​

Other lease information (amounts in thousands)

​

​

​

​

​

​

​

Cash paid for amounts included in the measurement of lease liabilities

​

​

​

​

​

​

​

Operating cash flows from finance leases

​

$

(28,276)

​

$

(22,650)

​

Operating cash flows from operating leases

​

​

(37,084)

​

​

(35,790)

​

Financing cash flows from finance leases

​

​

(23,007)

​

​

(16,523)

​

Right-of-use assets obtained in exchange for new finance lease liabilities

​

​

52,102

​

​

79,076

​

Right-of-use assets obtained in exchange for new operating lease liabilities

​

​

1,765

​

​

15,105

​

Weighted-average remaining lease term — finance leases (in years)

​

​

16.8

​

​

17.1

​

Weighted-average remaining lease term — operating leases (in years)

​

​

11.4

​

​

11.3

​

Weighted-average discount rate — finance leases

​

​

8.3

%

​

8.1

%

Weighted-average discount rate — operating leases

​

​

7.2

%

​

7.6

%

​

Schedule of future minimum payments under these operating lease agreements

The future minimum payments under the Company’s operating lease and finance lease agreements are as follows (in thousands):

​

​

​

​

​

​

​

​

  ​ ​ ​

Operating

  ​ ​ ​

Finance

For the Twelve Months Ending June 30,

​

Leases

​

Leases

2027

​

$

60,082

​

$

70,239

2028

​

​

57,534

​

​

69,157

2029

​

​

55,440

​

​

67,913

2030

​

​

34,482

​

​

67,537

2031

​

​

27,688

​

​

67,426

Thereafter

​

​

220,283

​

​

827,320

Total minimum lease obligations

​

​

455,509

​

​

1,169,592

Less—amounts representing interest

​

​

(146,033)

​

​

(539,382)

Present value of minimum lease obligations

​

​

309,476

​

​

630,210

Current maturities

​

​

(53,102)

​

​

(21,171)

Lease obligations, net of current maturities

​

$

256,374

​

$

609,039

Schedule of future minimum payments under these finance lease agreements

The future minimum payments under the Company’s operating lease and finance lease agreements are as follows (in thousands):

​

​

​

​

​

​

​

​

  ​ ​ ​

Operating

  ​ ​ ​

Finance

For the Twelve Months Ending June 30,

​

Leases

​

Leases

2027

​

$

60,082

​

$

70,239

2028

​

​

57,534

​

​

69,157

2029

​

​

55,440

​

​

67,913

2030

​

​

34,482

​

​

67,537

2031

​

​

27,688

​

​

67,426

Thereafter

​

​

220,283

​

​

827,320

Total minimum lease obligations

​

​

455,509

​

​

1,169,592

Less—amounts representing interest

​

​

(146,033)

​

​

(539,382)

Present value of minimum lease obligations

​

​

309,476

​

​

630,210

Current maturities

​

​

(53,102)

​

​

(21,171)

Lease obligations, net of current maturities

​

$

256,374

​

$

609,039