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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 120,865 $ 226,583
Short-term investments 0 3,780
Restricted deposits 0 200
Trade receivables (net of allowance for credit losses of $13,889 and $11,815 as of December 31, 2025 and 2024, respectively) (1) [1] 360,166 370,110
Prepaid expenses and other current assets 77,000 55,328
Total current assets 558,031 656,001
NON-CURRENT ASSETS    
Long-term prepaid expenses 15,116 25,193
Commercial agreement asset 270,248 286,619
Restricted deposits 1,462 1,462
Deferred tax assets 20,624 0
Operating lease right of use assets 79,167 58,997
Property and equipment, net 95,335 69,388
Intangible assets, net 13,925 65,067
Goodwill 555,931 555,931
Total non-current assets 1,051,808 1,062,657
Total assets 1,609,839 1,718,658
CURRENT LIABILITIES    
Trade payables [2] 330,684 309,229
Short-term operating lease liabilities 30,408 21,881
Accrued expenses and other current liabilities 159,874 154,472
Total current liabilities 520,966 485,582
LONG-TERM LIABILITIES    
Long-term loan and and revolving credit facility (3) [3] 102,300 116,452
Long-term operating lease liabilities 61,382 42,561
Warrants liability 501 3,368
Deferred tax liabilities, net 628 5,497
Other long-term liabilities 16,867 13,292
Total long-term liabilities 181,678 181,170
COMMITMENTS AND CONTINGENCIES (Note 15)
SHAREHOLDERS' EQUITY    
Treasury Ordinary shares, at cost - 110,438,588 (95,279,530 Ordinary shares and 15,159,058 Non-voting Ordinary shares) and 33,528,361 ( 32,540,065 Ordinary shares and 988,296 Non- voting Ordinary shares) as of December 31, 2025 and 2024, respectively (385,651) (130,117)
Additional paid-in capital 1,404,248 1,335,825
Accumulated other comprehensive income 534 418
Accumulated deficit (111,936) (154,220)
Total shareholders' equity 907,195 1,051,906
Total liabilities and shareholders' equity 1,609,839 1,718,658
Voting Ordinary shares    
SHAREHOLDERS' EQUITY    
Ordinary shares 0 0
Non-voting Ordinary shares    
SHAREHOLDERS' EQUITY    
Ordinary shares $ 0 $ 0
[1] Includes related party trade receivables of $39,210 and $76,677, as of December 31, 2025 and 2024, respectively.
[2]
(2) Includes related party trade payables of $70,950 and $68,556, as of December 31, 2025 and 2024, respectively.
[3]
(3) The balance as of December 31, 2025, reflects $102,300 outstanding under the revolving credit facility. The December 31, 2024, balance reflects $116,452 under the long-term loan. (See Note 11).