Related-Party Transactions

6 Months Ended

Jun. 30, 2026

Related Party Transactions [Abstract]

Related-Party Transactions

Related-Party Transactions

The Company has amounts due from certain LILP Partners related to tax payments advanced on their behalf. Such amounts are $6.8 million and $15.3 million at June 30, 2026 and December 31, 2025, respectively, and are recorded in related party receivables in the condensed consolidated balance sheets. Related-party receivables do not bear interest and have no established repayment date.

Included within related party receivables was $13.3 million as of December 31, 2025, due from LI GP, Inc. and affiliated entities that held equity interests in the Parent on behalf of certain partners for estimated tax payments. Prior to the IPO, LI GP and the affiliated entities merged into LI Inc.; accordingly, related party receivable related to these entities no longer exists.