CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 173,713	$ 188,231
Restricted cash and equivalents	0	5,629
Marketable securities	111,429	211,737
Receivables, net	673,793	1,017,040
Prepaid expenses and other current assets, net	137,762	35,137
Total current assets	1,096,697	1,457,774
Property, equipment, and capitalized software, net	25,417	28,169
Intangible assets, net	65,725	72,771
Goodwill	0	24,133
Other assets	83,451	151,136
Total assets	1,271,290	1,733,983
Current liabilities:
Medical claims and related payables	929,770	931,664
Accounts payable and accrued expenses	127,477	220,342
Current portion of long-term debt	19,238	0
Total current liabilities	1,076,485	1,152,006
Long-term debt, net of current portion	15,750	34,904
Other liabilities	52,321	76,121
Total liabilities	1,144,556	1,263,031
Commitments and contingencies
Stockholders' equity (deficit):
Common stock, $0.01 par value: 2,000,000 shares authorized; 414,728 and 412,194 shares issued and outstanding, respectively	4,147	4,122
Additional paid-in capital	2,099,995	2,053,895
Accumulated deficit	(1,978,324)	(1,586,977)
Accumulated other comprehensive income (loss)	916	(88)
Total stockholders’ equity (deficit)	126,734	470,952
Total liabilities and stockholders’ equity (deficit)	$ 1,271,290	$ 1,733,983