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CONSOLIDATED AND COMBINED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net loss $ (152,054) $ (266,064) $ (159,750)
Other comprehensive income (loss):      
Other comprehensive income related to equity method investees, net [1] 70,787 (2,523) 123,845
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax (4,354) 23,987 (2,227)
Other Comprehensive Income (Loss), Net of Tax 66,433 21,464 121,618
Comprehensive loss (85,621) (244,600) (38,132)
Continuing operations (44,880) (42,419) (38,414)
Comprehensive (loss) income attributable to stockholders $ (40,741) $ (202,181) $ 282
[1] Net of deferred tax expense of $9.2 million, $— million and $— million for the years ended December 31, 2025, 2024 and 2023, respectively.
(2) Net of deferred tax expense of $— million, $1.9 million and $— million for the years ended December 31, 2025, 2024 and 2023, respectively.