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v3.25.4

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2025 | Dec. 31, 2024
--- | --- | ---
Deferred income tax assets |  |
Tax Receivable Agreement | $ 91,355 | $ 114,402
Share-based compensation | 16,072 | 15,053
Fixed assets and other | 4,153 | 32,980
Tax credits and net operating loss carryforwards | 7,880 | 10,334
Less: Valuation allowance on net operating loss carryforwards and tax credits | (7,880) | (10,334)
Total deferred income tax assets | 111,580 | 162,435
Deferred income tax liabilities |  |
Intangibles | 19,158 | 27,389
Fixed assets | 685 | 431
Total deferred income tax liabilities | $ 19,843 | $ 27,820

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