v3.25.4
Segment and Geographic Information - Schedule of Revenue, Expenses and Consolidated Net Income (loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Revenue $ 731,368 $ 451,803 $ 368,168
Provision for (benefit from) income taxes (9,418) (457,648) 217
Tax receivable agreement expense 0 53,181 14,396
Depreciation and amortization expense 85,541 12,181 9,929
Interest expense 45,664 4,325 4,729
Consolidated net income (loss) (40,254) 427,585 (23,083)
Reportable Segment      
Segment Reporting Information [Line Items]      
Revenue 731,368 451,803 368,168
Employee compensation expense 324,654 208,403 184,723
Technology expense 54,442 35,598 31,362
Facilities expense 23,402 14,119 11,129
Outside services and contractors expense 25,972 15,975 10,810
Data costs 27,605 13,553 10,585
Provision for (benefit from) income taxes (9,418) (457,648) 217
Equity-based compensation expense and related payroll taxes 134,533 110,961 108,078
Tax receivable agreement expense 0 53,181 14,396
Depreciation and amortization expense 85,541 12,181 9,929
Interest expense 45,664 4,325 4,729
Other segment items 59,227 13,570 5,293
Consolidated net income (loss) $ (40,254) $ 427,585 $ (23,083)