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v3.26.1

Debt, net - Schedule of Debt (Details) - USD ($) $ in Thousands | Mar. 31, 2026 | Dec. 31, 2025
--- | --- | ---
Debt Instrument, Redemption [Line Items] |  |
Total debt | $ 439,127 | $ 148,986
Less: Unamortized debt issuance costs and discount | (17,831) | (39,187)
Total debt, net | 421,296 | 109,799
Macquarie Term Loan |  |
Debt Instrument, Redemption [Line Items] |  |
Macquarie Term Loan | $ 0 | $ 148,986
Effective interest rate | 0.00% | 48.90%
MUFG Equipment Financing |  |
Debt Instrument, Redemption [Line Items] |  |
Total debt | $ 396,567 | $ 0
Effective interest rate | 12.10% | 0.00%
Keystone Equipment Financing |  |
Debt Instrument, Redemption [Line Items] |  |
Total debt | $ 39,540 | $ 0
Effective interest rate | 13.30% | 0.00%
Beal Equipment Financing |  |
Debt Instrument, Redemption [Line Items] |  |
Total debt | $ 3,020 | $ 0
Effective interest rate | 14.20% | 0.00%

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