CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 145,456	$ 274,248
Restricted cash	10,285	10,300
Accounts receivable, net of allowance for doubtful accounts of $163 as of December 31, 2025 and $1,970 as of December 31, 2024	57,485	52,005
Inventory	48,618	49,887
Prepaid expenses and other current assets	23,924	22,308
Total current assets	285,768	408,748
Property and equipment, net	43,349	34,281
Intangible assets, net	195,908	208,944
Goodwill	292,644	266,368
Operating lease right-of-use assets	14,363	16,107
Other assets and deposits	8,754	6,938
Total assets	840,786	941,386
Liabilities and stockholders' equity
Accounts payable	21,832	28,326
Accrued payroll liabilities	9,889	5,573
Contingent considerations	611	3,589
Accrued expenses and other current liabilities	24,772	29,297
Intangible asset contract liability	5,875	5,875
Current debt obligations	13,567	12,220
Total current liabilities	76,546	84,880
Long-term debt, net of current portion	339,834	369,097
Intangible asset contract liability, net of current portion	5,705	11,965
Deferred tax liabilities, non-current	14,198	11,660
Operating lease liability, non-current	13,046	14,278
Other long-term liabilities	7,444	4,111
Total liabilities	456,773	495,991
Commitments and contingencies (Note 21)
Stockholders’ equity
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; 0 shares issued or outstanding	0	0
Additional paid-in capital	998,730	936,564
Accumulated deficit	(637,110)	(494,044)
Accumulated other comprehensive loss	(3,611)	(24,655)
indie’s stockholders’ equity	358,031	417,886
Noncontrolling interest	25,982	27,509
Total stockholders' equity	384,013	445,395
Total liabilities and stockholders' equity	840,786	941,386
Class A
Stockholders’ equity
Common stock	20	19
Class V
Stockholders’ equity
Common stock	$ 2	$ 2