Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table summarizes the basic and diluted earnings (loss) per share calculations for the three months ended March 31, 2026 and 2025:

	Three months ended March 31,
	2026		2025
Basic Earnings (Loss) per Share	in thousands (except per share amounts)
Net income (loss) available to Class A Common Stockholders	$	(6,521)	$	6,041
Weighted average shares of Class A Common Stock outstanding	101,034		90,047
Basic earnings (loss) per share	$	(0.06)	$	0.07
Diluted Earnings (Loss) per Share
Net income (loss) available to Class A Common Stockholders	$	(6,521)	$	22,786
Weighted average shares of Class A Common Stock outstanding	101,034		346,311
Diluted earnings (loss) per share	$	(0.06)	$	0.07
Net income available to Class A Common Stockholders
Net income (loss)	$	(12,745)	$	27,293
Net (income) loss attributable to non-controlling interest	8,254		(18,922)
Accretion of Series A Convertible Preferred Stock	(2,030)		(1,875)
Undistributed earnings allocated to Series A Convertible Preferred Stock	—		(455)
Net income (loss) available to Class A Common Stockholders, Basic	(6,521)		6,041
Undistributed earnings reallocated to Series A Convertible Preferred Stock	—		—
Adjustment for potentially dilutive THG units	—		16,685
Adjustment for potentially dilutive Series A Convertible Preferred Stock	—		—
Adjustment for potentially dilutive share-based compensation awards	—		60
Net income (loss) available to Class A Common Stockholders, Diluted	$	(6,521)	$	22,786
Weighted Average Shares of Class A Common Stock Outstanding
Weighted average shares of Class A Common Stock outstanding, Basic	101,034		90,047
Adjustment for potentially dilutive THG units	—		255,172
Adjustment for potentially dilutive Series A Convertible Preferred Stock	—		—
Adjustment for potentially dilutive share-based compensation awards	—		1,092
Weighted average shares of Class A Common Stock outstanding, Diluted	101,034		346,311

Schedule of the Weighted Average Excluded from Diluted Earnings

The following table summarizes the weighted average potential shares of Class A Common Stock excluded from diluted earnings (loss) per share of Class A Common Stock as their effect would be anti-dilutive for the three months ended March 31, 2026 and 2025:

	Three months ended March 31,
	2026	2025
	in thousands
THG units	245,102	—
Series A Convertible Preferred Stock	6,785	6,785
Unvested shares associated with share-based compensation awards	8,007	4,297
Total	259,894	11,082