CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 139,987	$ 173,713
Restricted cash and equivalents	71,579	0
Marketable securities	91,424	111,429
Receivables, net	899,745	673,793
Prepaid expenses and other current assets, net	118,438	137,762
Total current assets	1,321,173	1,096,697
Property, equipment, and capitalized software, net	24,887	25,417
Intangible assets, net	62,446	65,725
Other assets	96,432	83,451
Total assets	1,504,938	1,271,290
Current liabilities:
Medical claims and related payables	1,055,097	929,770
Accounts payable and accrued expenses	202,482	127,477
Current debt	14,746	19,238
Total current liabilities	1,272,325	1,076,485
Long-term debt	15,279	15,750
Other liabilities	35,901	52,321
Total liabilities	1,323,505	1,144,556
Commitments and contingencies
Stockholders' equity (deficit):
Common stock, $0.01 par value: 2,000,000 shares authorized; 16,606 and 16,589 shares issued and outstanding, respectively	166	166
Additional paid-in capital	2,110,196	2,103,976
Accumulated deficit	(1,929,408)	(1,978,324)
Accumulated other comprehensive income (loss)	479	916
Total stockholders’ equity (deficit)	181,433	126,734
Total liabilities and stockholders’ equity (deficit)	$ 1,504,938	$ 1,271,290