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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) / MEMBERS’ EQUITY - USD ($)
$ in Thousands
Total
Parent
Members' Equity
Undistributed Earnings and Accumulated Deficit
Common Stock
Class A Common Stock
Common Stock
Class B Common Stock
Additional Paid-in-Capital
Noncontrolling Interest
Balance at Dec. 31, 2024 $ 196,249   $ 6,759 $ 189,490        
Members' Equity                
Net income 50,576     50,576        
Distributions (11,250)     (11,250)        
Balance at Mar. 31, 2025 235,575   $ 6,759 228,816        
Stockholders' Equity                
Reclassification of redeemable noncontrolling interest from temporary equity into permanent equity 0              
Net income 17,738              
Beginning balance (in shares) at Dec. 31, 2025         12,650,000 99,166,563    
Beginning balance at Dec. 31, 2025 (134,731) $ (134,731)   (134,742) $ 1 $ 10 $ 0 $ 0
Stockholders' Equity                
Forfeiture of Class X Umbrella Units and corresponding cancellation of Class B common stock (in shares)           (340,000)    
Forfeiture of Class X Umbrella Units and corresponding cancellation of Class B common stock 66 66         66  
Net income 1,835 494   494       1,341
Equity-based compensation 8,342 5,199         5,199 3,143
Accretion to redemption value (651,114) (651,114)   (646,253)     (4,861)  
Reclassification of redeemable noncontrolling interest from temporary equity into permanent equity 804,297             804,297
Ending balance (in shares) at Mar. 31, 2026         12,650,000 98,826,563    
Ending balance at Mar. 31, 2026 $ 28,695 $ (780,086)   $ (780,501) $ 1 $ 10 $ 404 $ 808,781