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CONDENSED PARENT COMPANY FINANCIAL INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
SCHEDULE I - PARENT COMPANY CONDENSED BALANCE SHEET | SCHEDULE I - PARENT COMPANY CONDENSED BALANCE SHEET (amounts in thousands, except shares)
| December 31, 2024 |  | December 31, 2023
Assets |  |  |
Investment in subsidiaries | $ | 1,072,116 |  |  | $ | 1,058,308 |
Prepaid expenses | 54 |  |  | 146 |
Income tax receivable | 5,727 |  |  | — |
Deferred income tax asset | 466 |  |  | 446 |
Total assets | $ | 1,078,363 |  |  | $ | 1,058,900 |
Liabilities and stockholders' equity |  |  |
Current Liabilities: |  |  |
Accrued expenses and other current liabilities | $ | 1,119 |  |  | $ | 2,435 |
Due to affiliates | 13,531 |  |  | 13,326 |
Current portion of Related Party payable pursuant to Tax Receivable Agreement | 11,842 |  |  | 12,675 |
Total current liabilities | 26,492 |  |  | 28,436 |
Related Party payable pursuant to Tax Receivable Agreement | 177,469 |  |  | 185,496 |
Total liabilities | 203,961 |  |  | 213,932 |
Commitments and Contingencies (Note 5) |  |  |
Stockholders' equity: |  |  |
Common stock, $0.001 par value per share; 2,000,000,000 shares authorized, 664,224,893 and 660,731,935 shares issued and outstanding as of December 31, 2024 and 2023, respectively | 664 |  |  | 671 |
Additional paid-in capital | 487,128 |  |  | 475,079 |
Accumulated other comprehensive (loss) income | (765) |  |  | 1,365 |
Retained earnings | 387,375 |  |  | 367,853 |
Total stockholders' equity | 874,402 |  |  | 844,968 |
Total liabilities and stockholders' equity | $ | 1,078,363 |  |  | $ | 1,058,900 |
SCHEDULE I- PARENT COMPANY CONDENSED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME | SCHEDULE I - PARENT COMPANY CONDENSED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (amounts in thousands)
| Year Ended
| December 31, 2024 |  | December 31, 2023 |  | December 31, 2022
Operating expenses: |  |  |  |  |
Selling, general, and administrative expenses | $ | 7,377 |  |  | $ | 8,380 |  |  | $ | 5,683 |
Total operating expenses | 7,377 |  |  | 8,380 |  |  | 5,683 |
Interest expense | 2 |  |  | 195 |  |  | — |
Other expense (income), net |  |  |  |  |
Tax receivable agreement liability adjustment | 3,915 |  |  | (7,404) |  |  | (3,084) |
Equity in undistributed earnings | (29,263) |  |  | (60,768) |  |  | (245,001) |
Total other expense (income), net | (25,348) |  |  | (68,172) |  |  | (248,085) |
Income before benefit for income taxes | 17,969 |  |  | 59,597 |  |  | 242,402 |
Income tax benefit | (1,553) |  |  | (1,990) |  |  | (1,671) |
Net income | 19,522 |  |  | 61,587 |  |  | 244,073 |
Comprehensive income | $ | 19,522 |  |  | $ | 61,587 |  |  | $ | 244,073 |
SCHEDULE I - PARENT COMPANY CONDENSED STATEMENT OF CASH FLOWS | SCHEDULE I - PARENT COMPANY CONDENSED STATEMENT OF CASH FLOWS (amounts in thousands)
| Year Ended
| December 31, 2024 |  | December 31, 2023 |  | December 31, 2022
Cash flows from operating activities: |  |  |  |  |
Net income | $ | 19,522 |  |  | $ | 61,587 |  |  | $ | 244,073 |
Adjustments to reconcile net income to net cash (used in) provided by operating activities: |  |  |  |  |
Equity in undistributed earnings | (29,263) |  |  | (60,768) |  |  | (245,001) |
Tax receivable agreement liability adjustment | 3,915 |  |  | (7,404) |  |  | (3,084) |
Share-based compensation expense | 1,965 |  |  | 1,800 |  |  | 960 |
Deferred income tax asset | (19) |  |  | (11) |  |  | (239) |
Changes in operating assets and liabilities: |  |  |  |  |
Prepaid expenses | 92 |  |  | (146) |  |  | — |
Income taxes | (6,828) |  |  | 5,754 |  |  | (9,369) |
Accrued and other current liabilities | (213) |  |  | 507 |  |  | (465) |
Due to affiliates | 9,363 |  |  | 20,598 |  |  | 6,262 |
Other assets and liabilities | — |  |  | (29) |  |  | (4,140) |
Net cash (used in) provided by operating activities | (1,466) |  |  | 21,888 |  |  | (11,003) |
Cash flows from financing activities: |  |  |  |  |
Distribution of earnings from subsidiaries | 13,326 |  |  | — |  |  | 9,901 |
Proceeds from exercise of stock options | 919 |  |  | 4,974 |  |  | 1,876 |
Payments made pursuant to Tax Receivable Agreement | (12,779) |  |  | (16,452) |  |  | — |
Payment related to shares withheld to cover tax withholding obligations for options | — |  |  | (10,346) |  |  | — |
Payment related to shares withheld to cover tax withholding obligation for SARs | — |  |  | (64) |  |  | (774) |
Net cash provided by (used in) financing activities | 1,466 |  |  | (21,888) |  |  | 11,003 |
Net increase (decrease) in cash and cash equivalents | — |  |  | — |  |  | — |
Cash and cash equivalents - beginning of year | — |  |  | — |  |  | — |
Cash and cash equivalents - end of year | $ | — |  |  | $ | — |  |  | $ | — |

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