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Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Securities and other investments owned [1] $ 660,185 $ 382,461
Accounts receivable, net of allowance for credit losses 6,209 6,108
Loans receivable, at fair value 38,802 26,303
Warrant liabilities, current [1] $ 797 $ 6,400
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 1,000,000 1,000,000
Preferred stock, shares issued (in shares) 4,563 4,563
Preferred stock, shares outstanding (in shares) 4,563 4,563
Preferred stock, liquidation preference $ 126,172 $ 122,142
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 100,000,000 100,000,000
Common stock, shares issued (in shares) 40,199,755 30,597,066
Common stock, shares outstanding (in shares) 40,199,755 30,597,066
Cash [1] $ 154,112 $ 226,601
Securities and other investments owned, at fair value [1] 723,715 446,843
Prepaid expenses and other assets [1] 110,862 128,650
Accrued expenses and other liabilities [1] 156,333 154,780
Noncontrolling interest [1] 59,066 51,271
Variable Interest Entity, Primary Beneficiary    
Cash 183 446
Securities and other investments owned, at fair value 713 682
Prepaid expenses and other assets 3,678 3,737
Accrued expenses and other liabilities 28 28
Noncontrolling interest 3,939 4,192
Related Party    
Loans receivable, at fair value $ 1,035 $ 2,835
[1]
(1) At June 30, 2026 and December 31, 2025 the balance sheet includes cash of $183 and $446, securities and other investments owned, at fair value of $713 and $682, prepaid and other expenses of $3,678 and $3,737, accrued expenses and other liabilities of $28 and $28, and noncontrolling interest of $3,939 and $4,192, respectively, of consolidated variable interest entities (see Note 3 - Variable Interest Entities).