XML 41 R34.htm IDEA: XBRL DOCUMENT v3.25.1
Supplemental Information to the Condensed Consolidated Financial Statements (Tables)
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Change in Accounts Receivable Allowance for Credit Losses

The following table summarizes the change in the accounts receivable allowance for credit losses for the periods presented (in thousands):

 

 

As of March 31,

 

 

 

2025

 

 

2024

 

Accounts receivable allowance for credit losses,
   beginning of period

 

$

 

1,169

 

 

$

 

1,259

 

Write-offs

 

 

 

(319

)

 

 

 

(206

)

Expense

 

 

 

456

 

 

 

 

97

 

Accounts receivable allowance for credit losses,
   end of period

 

$

 

1,306

 

 

$

 

1,150

 
Schedule of Accounts Receivable and Contract Liabilities from Contracts with Customers

The following table provides information about accounts receivable and deferred revenues from contracts with customers (in thousands):

 

 

As of
March 31,

 

 

As of December 31,

 

 

 

2025

 

 

2024

 

Accounts receivable, net

 

$

 

134,301

 

 

$

 

120,353

 

Deferred revenue

 

$

 

7,578

 

 

$

 

8,002

 

The following table presents a reconciliation of contract liabilities for the periods presented (in thousands):

 

 

As of March 31,

 

 

 

2025

 

 

2024

 

Deferred revenue, beginning of period

 

$

 

8,002

 

 

$

 

1,515

 

Deposits received

 

 

 

7,735

 

 

 

 

3,308

 

Revenue recognized

 

 

 

(8,159

)

 

 

 

(952

)

Deferred revenue, end of period

 

$

 

7,578

 

 

$

 

3,871

 

 
Schedule of Accrued Liabilities

Accrued liabilities as of March 31, 2025 and December 31, 2024 consisted of the following (in thousands):

 

 

As of
March 31,

 

 

As of
December 31,

 

 

 

2025

 

 

2024

 

Accrued payroll and employee expenses

 

$

 

14,850

 

 

$

 

17,102

 

Accrued taxes

 

 

 

8,118

 

 

 

 

7,284

 

Customer deposits

 

 

 

270

 

 

 

 

530

 

Accrued interest

 

 

 

1,514

 

 

 

 

3,557

 

Accrued IPO costs

 

 

 

594

 

 

 

 

1,687

 

Other accrued liabilities

 

 

 

1,786

 

 

 

 

3,669

 

Total accrued expenses

 

$

 

27,132

 

 

$

 

33,829

 
Schedule of Supplemental Cash Flow Information

 

 

Three Months Ended
March 31,

 

 

 

2025

 

 

2024

 

Supplemental disclosures of investing and financing activities

 

 

 

 

 

 

 

 

Cash paid for interest

 

$

 

4,274

 

 

$

 

98

 

Cash paid for income taxes

 

$

 

—

 

 

$

 

—

 

Supplemental schedule of non-cash activities

 

 

 

 

 

 

 

 

Issuance of 64,823,042 shares of Class B common
   stock to the Continuing Equity Owners, net of
   redemption of certain LLC Interests and Blocker
   Shareholders' exchange to Class A shares

 

$

 

—

 

 

$

 

—

 

Issuance of 5,251,620 shares of Class A common
   stock to the Blocker Shareholders in exchange
   of LLC Interests

 

$

 

—

 

 

$

 

—

 

Establishment of liabilities under Tax Receivable
   Agreement in the IPO

 

$

 

10,173

 

 

$

 

—

 

Establishment of deferred tax asset under Tax
   Receivable Agreement and the UPO

 

$

 

12,484

 

 

$

 

—

 

Lease liabilities arising from obtaining operating
   right-of-use assets

 

$

 

345

 

 

$

 

—

 

Lease liabilities arising from obtaining financing
   right-of-use assets

 

$

 

3,803

 

 

$

 

1,109