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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 246,547 $ 104,203
Restricted cash 16,239 59,295
Accounts receivable, net [1] 430,496 414,681
Prepaid expenses and other current assets 34,652 28,938
Total current assets 727,934 607,117
Restricted cash 15,059 14,998
Investments and equity method investees 8,569 8,588
Property and equipment, net 74,440 73,151
Right-of-use assets - operating 5,726 6,134
Prepaid expenses and other noncurrent assets 3,188 3,569
Contract cost assets 13,334 13,378
Intangible assets, net 667,881 680,156
Goodwill 1,137,320 1,137,320
Total assets 2,653,451 2,544,411
Current liabilities:    
Accounts payable [1] 57,813 96,025
Accrued liabilities 99,531 66,361
Operating lease liability - current 35,187 26,717
Accrued compensation and employee benefits 35,914 33,719
Deferred revenue 5,017 2,507
Short-term debt, net 171,793 171,467
Reserve for claims and performance - based arrangements 333,842 318,705
Total current liabilities 739,097 715,501
Long-term debt, net 647,532 490,520
Other long-term liabilities 3,269 2,984
Tax receivables agreement liability 108,105 108,105
Operating lease liabilities - noncurrent 15,585 24,969
Deferred tax liabilities, net 11,114 10,900
Total liabilities 1,524,702 1,352,979
Commitments and Contingencies (See Note 10)
Mezzanine Equity    
Preferred class A common stock - $0.01 par value; 50,000,000 shares authorized; 175,000 issued, respectively 193,228 190,173
Shareholders' Equity    
Class A common stock - $0.01 par value; 750,000,000 shares authorized; 117,397,804 and 116,575,773 shares issued, respectively 1,174 1,166
Additional paid-in-capital 1,802,634 1,803,786
Accumulated other comprehensive loss (1,729) (1,753)
Retained earnings (accumulated deficit) (845,435) (780,817)
Treasury stock, at cost; 1,537,582 shares issued, respectively (21,123) (21,123)
Total shareholders’ equity 935,521 1,001,259
Total liabilities, mezzanine equity and shareholders’ equity $ 2,653,451 $ 2,544,411
[1] See Note 18 for amounts attributable to related parties included in these line items.