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Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
1 Months Ended 5 Months Ended 12 Months Ended
Jul. 29, 2024
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2023
Revenue   $ 463,527 $ 1,530,296 $ 1,050,057
Cost of revenue   359,848 1,080,937 810,534
Gross profit   103,679 449,359 239,523
Selling, general and administrative expenses   150,306 440,827  
Transaction costs   35,998 25,628  
Income (loss) from operations   (82,625) (17,096)  
Interest expense, net   31,061 87,621  
Loss on extinguishment of debt   0 0  
Other income, net   (2,978) (6,545)  
Loss before income tax provision (benefit)   (110,708) (98,172)  
Provision (benefit) for income taxes   (5,256) (11,056)  
Net loss   (105,452) (87,116)  
Dividends   0 (6,757)  
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic   861 596  
Net loss allocated to common stockholders   (104,591) (93,277)  
Other comprehensive income (loss):        
Net loss   (105,452) (87,116)  
Foreign currency translation adjustments   (35,489) 46,546  
Total other comprehensive income (loss)   $ (140,941) $ (40,570)  
Predecessor        
Revenue $ 633,866     1,050,057
Cost of revenue 471,881     810,534
Gross profit 161,985     239,523
Selling, general and administrative expenses 121,369     185,022
Transaction costs 5,204     0
Income (loss) from operations 35,412     54,501
Interest expense, net 39,379     60,022
Loss on extinguishment of debt 9,073     0
Other income, net (580)     (1,241)
Loss before income tax provision (benefit) (12,460)     (4,280)
Provision (benefit) for income taxes 3,243     2,009
Net loss (15,703)     (6,289)
Dividends 0     0
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic 0     0
Net loss allocated to common stockholders (15,703)     (6,289)
Other comprehensive income (loss):        
Net loss (15,703)     (6,289)
Foreign currency translation adjustments (18,004)     11,184
Total other comprehensive income (loss) $ (33,707)     $ 4,895
Basic and diluted income (loss) per share:        
Basic loss per common stock and Series A Preferred Stock (in dollars per share)       $ (1.25)
Diluted loss per common stock and Series A Preferred Stock (in dollars per share)       $ (1.25)
Weighted-average shares outstanding:        
Weighted average common stock stock and Series A Preferred Stock outstanding – basic (in shares)       5,024,802
Weighted average common stock stock and Series A Preferred Stock outstanding, diluted (in shares)       5,024,802
Common Stock        
Basic and diluted income (loss) per share:        
Basic loss per common stock and Series A Preferred Stock (in dollars per share)   $ (0.86) $ (0.60)  
Diluted loss per common stock and Series A Preferred Stock (in dollars per share)   $ (0.86) $ (0.60)  
Weighted-average shares outstanding:        
Weighted average common stock stock and Series A Preferred Stock outstanding – basic (in shares)   121,454,845 156,600,421  
Weighted average common stock stock and Series A Preferred Stock outstanding, diluted (in shares)   122,454,845 157,600,421  
Common Stock | Predecessor        
Basic and diluted income (loss) per share:        
Basic loss per common stock and Series A Preferred Stock (in dollars per share) $ (3.13)     $ (1.25)
Diluted loss per common stock and Series A Preferred Stock (in dollars per share) $ (3.13)     $ (1.25)
Weighted-average shares outstanding:        
Weighted average common stock stock and Series A Preferred Stock outstanding – basic (in shares) 5,024,802     5,024,802
Weighted average common stock stock and Series A Preferred Stock outstanding, diluted (in shares) 5,024,802     5,024,802
Series A Preferred Stock        
Basic and diluted income (loss) per share:        
Basic loss per common stock and Series A Preferred Stock (in dollars per share)   $ (0.86) $ 6.16  
Diluted loss per common stock and Series A Preferred Stock (in dollars per share)   $ (0.86) $ 6.16  
Weighted-average shares outstanding:        
Weighted average common stock stock and Series A Preferred Stock outstanding – basic (in shares)   1,000,000 1,000,000  
Weighted average common stock stock and Series A Preferred Stock outstanding, diluted (in shares)   1,000,000 1,000,000  
Series A Preferred Stock | Predecessor        
Basic and diluted income (loss) per share:        
Basic loss per common stock and Series A Preferred Stock (in dollars per share) $ 0     $ 0
Diluted loss per common stock and Series A Preferred Stock (in dollars per share) $ 0     $ 0
Weighted-average shares outstanding:        
Weighted average common stock stock and Series A Preferred Stock outstanding – basic (in shares) 0     0
Weighted average common stock stock and Series A Preferred Stock outstanding, diluted (in shares) 0     0