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Earnings Per Share (Tables) | 12 Months Ended
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Dec. 31, 2025
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share, Basic and Diluted | The following table summarizes the basic and diluted earnings per share calculations for the years ended December 31, 2025, 2024, and 2023:
|  |  | Year ended December 31,
|  |  |  |  | 2025 |  | 2024 |  | 2023
|  |  |  |  | in thousands (except per share amounts)
Basic Earnings per Share |  |  |  |  |  |  |  |  |
Net income available to Class A Common Stockholders |  |  |  |  | $ | 38,683 |  |  | $ | 8,900 |  |  | $ | 15,881 |
Weighted average shares of Class A Common Stock outstanding |  |  |  |  | 94,404 |  |  | 87,529 |  |  | 84,180 |
Basic earnings per share |  |  |  |  | $ | 0.41 |  |  | $ | 0.10 |  |  | $ | 0.19 |
Diluted Earnings per Share |  |  |  |  |  |  |  |  |
Net income available to Class A Common Stockholders |  |  |  |  | $ | 127,480 |  |  | $ | 8,944 |  |  | $ | 31,769 |
Weighted average shares of Class A Common Stock outstanding |  |  |  |  | 346,973 |  |  | 88,504 |  |  | 340,323 |
Diluted earnings per share |  |  |  |  | $ | 0.37 |  |  | $ | 0.10 |  |  | $ | 0.09 |
Net income available to Class A Common Stockholders |  |  |  |  |  |  |  |  |
Net income |  |  |  |  | $ | 149,225 |  |  | $ | 78,303 |  |  | $ | 28,179 |
Net income attributable to non-controlling interest |  |  |  |  | (100,207) |  |  | (61,286) |  |  | (7,948) |
Accretion of Series A Convertible Preferred Stock |  |  |  |  | (7,555) |  |  | (7,427) |  |  | (3,677) |
Undistributed earnings allocated to Series A Convertible Preferred Stock |  |  |  |  | (2,780) |  |  | (690) |  |  | (673) |
Net income available to Class A Common Stockholders, Basic |  |  |  |  | 38,683 |  |  | 8,900 |  |  | 15,881 |
Undistributed earnings reallocated to Series A Convertible Preferred Stock |  |  |  |  | 287 |  |  | — |  |  | 347 |
Adjustment for potentially dilutive THG units |  |  |  |  | 88,431 |  |  | — |  |  | 15,526 |
Adjustment for potentially dilutive Series A Convertible Preferred Stock |  |  |  |  | — |  |  | — |  |  | — |
Adjustment for potentially dilutive share-based compensation awards |  |  |  |  | 79 |  |  | 44 |  |  | 15 |
Net income available to Class A Common Stockholders, Diluted |  |  |  |  | $ | 127,480 |  |  | $ | 8,944 |  |  | $ | 31,769 |
Weighted Average Shares of Class A Common Stock Outstanding |  |  |  |  |  |  |  |  |
Weighted average shares of Class A Common Stock outstanding, Basic |  |  |  |  | 94,404 |  |  | 87,529 |  |  | 84,180 |
Adjustment for potentially dilutive THG units |  |  |  |  | 251,394 |  |  | — |  |  | 255,559 |
Adjustment for potentially dilutive Series A Convertible Preferred Stock |  |  |  |  | — |  |  | — |  |  | — |
Adjustment for potentially dilutive share-based compensation awards |  |  |  |  | 1,175 |  |  | 975 |  |  | 584 |
Weighted average shares of Class A Common Stock outstanding, Diluted |  |  |  |  | 346,973 |  |  | 88,504 |  |  | 340,323 |
Schedule of the Weighted Average Excluded from Diluted Earnings | The following table summarizes the weighted average potential shares of Class A Common Stock excluded from diluted earnings per share of Class A Common Stock as their effect would be anti-dilutive for the years ended December 31, 2025, 2024, and 2023:
|  |  | Year ended December 31,
|  |  |  |  | 2025 |  | 2024 |  | 2023
|  |  |  |  | in thousands
THG units |  |  |  |  | — |  |  | 255,328 |  |  | — |
Series A Convertible Preferred Stock |  |  |  |  | 6,785 |  |  | 6,785 |  |  | 3,569 |
Unvested shares associated with share-based compensation awards |  |  |  |  | 3,959 |  |  | 4,115 |  |  | 3,767 |
Warrants |  |  |  |  | — |  |  | — |  |  | 19,484 |
Total |  |  |  |  | 10,744 |  |  | 266,228 |  |  | 26,820 |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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