Restricted Cash

9 Months Ended

Sep. 30, 2025

Cash and Cash Equivalents [Abstract]

The Company entered into a lease agreement with KCP NNN II Leasehold 4, LLC on July 25, 2019 to lease 114,500 square feet of space in Irving, Texas. As part of the lease agreement, the Company delivered an unconditional, irrevocable letter of credit for $3.4 million from a nationally recognized bank. The Company obtained this letter of credit and placed $3.4 million in a security deposit account. As of September 30, 2025 and December 31, 2024, amounts outstanding are $2.1 million and $2.7 million, respectively, and are included within cash, cash equivalents, and restricted cash and other assets on the condensed consolidated balance sheets.

The remaining restricted cash amounts are not material individually.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheet that sum to the total of the amounts shown in the condensed consolidated statements of cash flows. Restricted cash is presented within cash, cash equivalents, and restricted cash and other assets on the condensed consolidated balance sheets.


	Condensed consolidated balance sheet line item	As of September 30, 2025		As of December 31, 2024

		(amounts in thousands)
Cash and cash equivalents	Cash, cash equivalents, and restricted cash	$	753,221	$	63,950
Restricted cash - short-term	Cash, cash equivalents, and restricted cash	1,518		1,492
Restricted cash - long-term	Other assets	2,243		2,586
Total		$	756,982	$	68,028