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Consolidated and Combined Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 37,113 $ 11,635
Restricted cash 31,553 52,432
Accounts receivable, net of allowance for credit losses of $5,660 and $3,279, respectively 130,281 18,663
Related party receivables and prepaid expenses $ 736 $ 12,105
Other Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration] Related Party [Member] Related Party [Member]
Inventories, net $ 11,365 $ 7,204
Prepaid expenses and other current assets 28,699 22,358
Total current assets 239,747 124,397
Property, plant and equipment, net of accumulated depreciation of $11,094 and $193,946, respectively 82,956 45,106
Operating lease right-of-use assets, net 30,339 30,543
Goodwill 189,881 39,718
Intangible assets, net 344,080 132,842
Other noncurrent assets 15,094 17,815
Total assets 902,097 390,421
Current liabilities    
Current portion of long-term debt 34,334 1,433,484
Accounts payable 55,700 42,602
Related party payables $ 5,343 $ 3,383
Related party payables Related Party Related Party
Income tax payable $ 6,158 $ 5,682
Accrued liabilities 47,101 44,898
Accrued compensation and benefits 56,314 68,179
Accrued interest 13,685 80,039
Customer deposits 21,691 19,900
Deferred revenue 11,881 6,583
Obligation for claim payment 55,632 70,805
Current portion of finance lease liabilities 4,390 5,441
Current portion of operating lease liabilities 9,814 9,210
Total current liabilities 322,043 1,790,206
Long-term debt, net of current maturities 353,267 1,468
Finance lease liabilities, net of current portion 6,857 6,381
Net defined benefit liability 6,241 1,041
Deferred income tax liabilities 52,595 13,118
Long-term income tax liabilities 10,554 8,285
Operating lease liabilities, net of current portion 22,530 23,907
Other long-term liabilities 40,671 2,803
Total liabilities 814,758 1,847,209
Commitments and Contingencies (Note 16)
Stockholders' Equity (Deficit)    
Successor's common stock, par value of $0.0001 per share; 400,000,000 shares authorized; 11,755,434 shares issued and outstanding as of December 31, 2025 12 0
Successor's preferred stock, par value of $0.0001 per share; 20,000,000 shares authorized; none issued and outstanding as of December 31, 2025 0 0
Additional paid in capital 437,995 0
Accumulated deficit (351,123) 0
Predecessor's net parent investment 0 (1,449,634)
Accumulated other comprehensive loss:    
Foreign currency translation adjustment (1,263) (7,154)
Unrealized pension actuarial gains, net of tax 1,718 0
Total accumulated other comprehensive profit (loss) 455 (7,154)
Total stockholder's equity (deficit) 87,339 (1,456,788)
Total liabilities and stockholder's equity (deficit) $ 902,097 $ 390,421