A reconciliation of the beginning and ending balance of the TRA liability is as follows (in thousands): | | | | | | | | | | | | | | | | Year Ended December 31, | | 2025 | 2024 | | 2023 | | Balance - Beginning of Year | $ | 35 | | $ | 18,894 | | | $ | 12,200 | | | Tax receivable agreement expense | — | | 11,545 | | | 14,396 | | | TRA bonus expense | — | | 557 | | | 694 | | | Tax receivable agreement expense due to TRA Amendment | — | | 41,636 | | | — | | | TRA bonus expense due to TRA Amendment | — | | 2,009 | | | — | | | Payments | (35) | | (74,606) | | | (8,396) | | | Balance - End of Year | $ | — | | $ | 35 | | | $ | 18,894 | | | | | | | | Tax receivable agreement expense | $ | — | | $ | 53,181 | | | $ | 14,396 | | | TRA bonus expense in operating expenses | — | | 2,566 | | | 694 | | | Total expense | $ | — | | $ | 55,747 | | | $ | 15,090 | |
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