Income Taxes (Tables)

6 Months Ended

Jun. 30, 2026

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax (Benefit) Expense

The components of income tax (benefit) expense for the three and six months ended June 30, 2026 and 2025 were as follows:

	Three Months Ended				Six Months Ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Income before income taxes
Domestic net income before income taxes	$	49,318	$	53,638	$	200,545	$	146,458
Foreign net income before income taxes	19,826		7,718		39,801		24,072
Total net income before income taxes	$	69,144	$	61,356	$	240,346	$	170,530
Current tax expense
U.S. Federal	$	611	$	62	$	1,512	$	62
U.S. State	180		11		400		11
Foreign	463		310		1,514		726
Total current expense	$	1,254	$	383	$	3,426	$	799
Deferred tax (benefit) expense
U.S. Federal	$	540	$	(530)	$	216	$	(689)
U.S. State	131		(139)		32		(195)
Foreign	(1)		88		(204)		166
Total deferred tax (benefit) expense	$	670	$	(581)	$	44	$	(718)
Total income tax expense, net	$	1,924	$	(198)	$	3,470	$	81

Schedule of Deferred Tax Asset and Deferred Tax Liability

The following table details the Company’s deferred tax asset and deferred tax liability as of June 30, 2026 and December 31, 2025:

	June 30, 2026		December 31, 2025
Deferred tax asset (1) (2)
U.S.	$	567	$	754
Foreign	595		415
Total deferred tax asset	$	1,162	$	1,169
Deferred tax liability (3) (4)
U.S.	$	—	$	—
Foreign	2,049		2,130
Total deferred tax liability	$	2,049	$	2,130

(1)    Included within Other assets in the Condensed Consolidated Balance Sheets.

(2)    Deferred tax asset as of June 30, 2026 is primarily comprised of organizational expenses, basis differences, fair value adjustments, and NOL carryforwards. Deferred tax assets as of December 31, 2025 is primarily comprised of organization expenses and basis differences, as well as interest expense net of a valuation allowance.

(3)    Included within Other liabilities in the Condensed Consolidated Balance Sheets.

(4)    Deferred tax liability as of June 30, 2026 and December 31, 2025 is primarily comprised of temporary differences on real property and straight-line rent adjustments related to foreign entities.

Schedule of Income Taxes Paid

The following table details income taxes paid for the six months ended June 30, 2026 and 2025:

	Six Months Ended
	June 30, 2026		June 30, 2025
U.S. Federal	$	976	$	28
U.S. State	545		141
Foreign	1,413		596
Total income taxes paid	$	2,934	$	765