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CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY - USD ($)
$ in Thousands
Total
Re-designated ordinary shares from Class B to Class A
Treasury Shares
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
Class A ordinary shares
Class A ordinary shares
Common stock
Class A ordinary shares
Common stock
Re-designated ordinary shares from Class B to Class A
Class B ordinary shares
Common stock
Class B ordinary shares
Common stock
Re-designated ordinary shares from Class B to Class A
Beginning balance (in shares) at Dec. 31, 2023               31,455,148   9,326,732  
Beginning balance at Dec. 31, 2023 $ 290,416   $ (1,594) $ 111,736 $ 526 $ 177,698   $ 1,584   $ 466  
Treasury shares at the beginning of the period (in shares) at Dec. 31, 2023     294,029                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income 54,164         54,164          
Shares held for share-based compensation (in shares)     500,000                
Shares held for share-based compensation 0                    
Share-based compensation (in shares)     (521,301)         (567,642)      
Share-based compensation 14,215     14,187       $ 28      
Share repurchase (in shares)     0                
Exercise of warrants (in shares)               13,372      
Exercise of warrants 0     (1)       $ 1      
Re-designated ordinary shares from Class B to Class A (in shares)                 1,250,000   (1,250,000)
Re-designated ordinary shares from Class B to Class A   $ 0             $ 63   $ (63)
Foreign currency translation adjustment, net of nil income taxes (378)       (378)            
Net unrealized gain (loss) on available-for-sale investments 2       2            
Intra-entity foreign currency transactions gain 0                    
Release of foreign currency translation reserve related to liquidation of subsidiaries 0                    
Retirement of shares (in shares)     0                
Ending balance (in shares) at Jun. 30, 2024               33,286,162   8,076,732  
Ending balance at Jun. 30, 2024 358,419   $ (1,594) 125,922 150 231,862   $ 1,676   $ 403  
Treasury shares at the ending of the period (in shares) at Jun. 30, 2024     272,728                
Beginning balance (in shares) at Mar. 31, 2024               32,720,692   8,076,732  
Beginning balance at Mar. 31, 2024 317,779   $ (1,594) 112,015 414 204,893   $ 1,648   $ 403  
Treasury shares at the beginning of the period (in shares) at Mar. 31, 2024     292,637                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income 26,969         26,969          
Shares held for share-based compensation (in shares)     500,000                
Shares held for share-based compensation 0                    
Share-based compensation (in shares)     (519,909)         (565,470)      
Share-based compensation 13,935     13,907       $ 28      
Share repurchase (in shares)     0                
Foreign currency translation adjustment, net of nil income taxes (266)       (266)            
Net unrealized gain (loss) on available-for-sale investments 2       2            
Intra-entity foreign currency transactions gain 0                    
Release of foreign currency translation reserve related to liquidation of subsidiaries 0                    
Retirement of shares (in shares)     0                
Ending balance (in shares) at Jun. 30, 2024               33,286,162   8,076,732  
Ending balance at Jun. 30, 2024 358,419   $ (1,594) 125,922 150 231,862   $ 1,676   $ 403  
Treasury shares at the ending of the period (in shares) at Jun. 30, 2024     272,728                
Beginning balance (in shares) at Dec. 31, 2024               32,269,345   8,076,732  
Beginning balance at Dec. 31, 2024 $ 405,217   $ (11,816) 120,262 (4,136) 298,861   $ 1,643   $ 403  
Treasury shares at the beginning of the period (in shares) at Dec. 31, 2024 609,390   609,390                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income $ 61,698         61,698          
Share-based compensation (in shares)     (44,657)         (389,555)      
Share-based compensation 4,254     4,235       $ 19      
Share repurchase (in shares)     (3,069,569)         (3,069,569)      
Share repurchase (46,029)   $ (46,029)                
Foreign currency translation adjustment, net of nil income taxes 1,290       1,290            
Net unrealized gain (loss) on available-for-sale investments (7)       (7)            
Intra-entity foreign currency transactions gain 5,022       5,022            
Release of foreign currency translation reserve related to liquidation of subsidiaries (1)       (1)            
Retirement of shares 0   $ 50,550 (30,172)   (20,217)   $ (161)      
Retirement of shares (in shares)     (3,227,376)                
Ending balance (in shares) at Jun. 30, 2025               29,589,331   8,076,732  
Ending balance at Jun. 30, 2025 $ 431,444   $ (7,295) 94,325 2,168 340,342   $ 1,501   $ 403  
Treasury shares at the ending of the period (in shares) at Jun. 30, 2025 406,926   406,926                
Beginning balance (in shares) at Mar. 31, 2025               30,872,535   8,076,732  
Beginning balance at Mar. 31, 2025 $ 412,897   $ (34,550) 121,490 (2,096) 326,007   $ 1,643   $ 403  
Treasury shares at the beginning of the period (in shares) at Mar. 31, 2025     2,008,984                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income 34,552         34,552          
Share-based compensation (in shares)     (43,265)         (385,379)      
Share-based compensation 3,026     3,007       $ 19      
Share repurchase (in shares)     (1,668,583)       (1,668,583) (1,668,583)      
Share repurchase (23,295)   $ (23,295)       $ (23,200)        
Foreign currency translation adjustment, net of nil income taxes 879       879            
Net unrealized gain (loss) on available-for-sale investments (1)       (1)            
Intra-entity foreign currency transactions gain 3,386       3,386            
Release of foreign currency translation reserve related to liquidation of subsidiaries 0                    
Retirement of shares 0   $ 50,550 (30,172)   (20,217)   $ (161)      
Retirement of shares (in shares)     (3,227,376)                
Ending balance (in shares) at Jun. 30, 2025               29,589,331   8,076,732  
Ending balance at Jun. 30, 2025 $ 431,444   $ (7,295) $ 94,325 $ 2,168 $ 340,342   $ 1,501   $ 403  
Treasury shares at the ending of the period (in shares) at Jun. 30, 2025 406,926   406,926