XML 35 R28.htm IDEA: XBRL DOCUMENT

Warrants	6 Months Ended
Jun. 30, 2025
Warrants and Rights Note Disclosure [Abstract]
Warrants	19. WARRANTS Upon consummation of the Business Combination, the Company assumed warrants sold in a private placement ("Private Warrants") issued by Dragoneer. Private Warrants could only be exercised for a whole number of shares of the Company’s common stock. Each whole Private Warrant entitled the registered holder to purchase one share of the Company’s common stock. All warrants had an exercise price of $11.50 per share, subject to adjustment, beginning on August 29, 2021, and were to expire on July 30, 2026 or earlier upon redemption or liquidation. Additionally, the Private Warrants were exercisable on a cashless basis and were non-redeemable, so long as they were held by the initial purchasers or their permitted transferees. If the Private Warrants were held by someone other than the initial purchasers or their permitted transferees, the Private Warrants were redeemable by the Company and exercisable by such holders. During May 2024, the Company redeemed all of the outstanding Private Warrants for an aggregate 3,809,200 shares of the Company’s common stock. Following the redemption, the Company had no Private Warrants outstanding. During the three and six months ended June 30, 2024, the Company recognized income of $16.0 million and $14.4 million, respectively as a change in fair value of warrant liabilities in the condensed consolidated statements of operations and comprehensive income (loss).

Warrants

6 Months Ended

Jun. 30, 2025

Warrants and Rights Note Disclosure [Abstract]

19. WARRANTS

Upon consummation of the Business Combination, the Company assumed warrants sold in a private placement ("Private Warrants") issued by Dragoneer.

Private Warrants could only be exercised for a whole number of shares of the Company’s common stock. Each whole Private Warrant entitled the registered holder to purchase one share of the Company’s common stock. All warrants had an exercise price of $11.50 per share, subject to adjustment, beginning on August 29, 2021, and were to expire on July 30, 2026 or earlier upon redemption or liquidation. Additionally, the Private Warrants were exercisable on a cashless basis and were non-redeemable, so long as they were held by the initial purchasers or their permitted transferees. If the Private Warrants were held by someone other than the initial purchasers or their permitted transferees, the Private Warrants were redeemable by the Company and exercisable by such holders.

During May 2024, the Company redeemed all of the outstanding Private Warrants for an aggregate 3,809,200 shares of the Company’s common stock. Following the redemption, the Company had no Private Warrants outstanding.

During the three and six months ended June 30, 2024, the Company recognized income of $16.0 million and $14.4 million, respectively as a change in fair value of warrant liabilities in the condensed consolidated statements of operations and comprehensive income (loss).