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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income [1] $ 243,756 $ 124,432
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization [1] 15,137 18,798
Provision for losses on accounts receivable [1] 873 1,614
Share-based compensation [1] 5,666 8,606
Fair value and remeasurement adjustments ($(56) and $3,011 from related parties) [1] (6,461) (6,789)
Non-cash interest and other (includes $— and $(268) from related parties) [1] 3,516 6,584
Depreciation of rental merchandise [1] 6,094 6,698
Net foreign currency losses (gains) [1] 18 (481)
Loss (income) from equity investments [1] 4,133 (25,051)
Dividends from equity investments [1] 273 122
Deferred income taxes [1] 502 9,100
Impairment of tradename [1] 4,000 1,500
Gain on disposal of discontinued operations [1] 0 (66,795)
Loss (gain) on sale or disposal of fixed assets and other [1] 143 (1,147)
Gain on sale and deconsolidation of businesses [1] 0 (86,213)
(Gain) loss on extinguishment of debt [1] (1,607) 20,693
Gain on senior note exchange [1] 0 (54,986)
Change in operating assets and liabilities:    
Amounts due to/from clearing brokers [1] 19,294 (14,668)
Securities and other investments owned [1] (278,602) 39,126
Securities borrowed [1] (91,780) (29,298)
Accounts receivable [1] (6,784) 3,542
Prepaid expenses and other assets ($— and $3,373 from related parties) [1] 11,080 6,728
Accounts payable, accrued expenses and other liabilities [1] 2,005 (13,665)
Amounts due to/from related parties and partners [1] 0 (2,290)
Securities sold not yet purchased [1] (322) 6,672
Deferred revenue [1] (2,922) (4,609)
Securities loaned [1] 91,871 26,402
Net cash provided by (used in) operating activities [1] 19,883 (25,375)
Cash flows from investing activities    
Purchases of loans receivable ($— and $50,853 from related parties) [1] (44,192) (66,650)
Repayments of loans receivable ($1,855 and $50,883 by related parties) [1] 44,403 105,378
Proceeds from sale of loans receivable ($— and $6,611 from related parties) [1] 0 10,415
Proceeds from loan participations sold [1] 0 4,475
Proceeds from sale of business, net of cash sold and other [1] 0 94,938
Purchases of property, equipment, and intangible assets [1] (2,241) (9,148)
Proceeds from sale of property, equipment, intangible assets, and other [1] 0 7,173
Distributions from equity investments [1] 1,210 34,869
Purchases of equity and other investments [1] 0 (6,621)
Consolidation of VIE [1] 0 359
Proceeds from sale of discontinued operations, net of cash sold [1] 0 114,032
Net cash (used in) provided by investing activities [1] (820) 289,220
Cash flows from financing activities    
Proceeds from revolving lines of credit [1] 108,077 46,374
Repayment of revolving lines of credit [1] (83,399) (50,627)
Proceeds from note payable [1] 0 850
Repayment of notes payable and other [1] (592) (13,138)
Repayment of term loans [1] (6,250) (310,253)
Proceeds from term loans [1] 0 235,550
Redemption of senior notes, net [1] (90,594) (145,302)
Repurchases and payments on senior notes [1] (13,122) 0
Payment of debt issuance and offering costs [1] (441) (11,253)
Payment of contingent consideration [1] 0 (1,376)
Payment of employment taxes on vesting of restricted stock [1] (2,831) 0
Distributions to noncontrolling interests [1] (1,358) (3,249)
Net cash used in financing activities [1] (90,510) (252,424)
Increase in cash, cash equivalents and restricted cash [1] (71,447) 11,421
Effect of foreign currency on cash, cash equivalents and restricted cash [1] (2,188) 546
Net decrease in cash and cash equivalents [1] (73,635) 11,967
Cash, cash equivalents and restricted cash from continuing operations, beginning of period 229,277 248,651
Cash, cash equivalents and restricted cash from discontinued operations, beginning of period 0 8,025
Cash, cash equivalents and restricted cash, total 155,642 268,643
Cash, cash equivalents and restricted cash from continuing operations, end of period 155,642 268,643
Cash, cash equivalents and restricted cash from discontinued operations, end of period 0 0
Reconciliation of cash, cash equivalents and restricted cash to amounts reported in the condensed consolidated balance sheets:    
Cash and cash equivalents 154,112 [2] 267,388
Restricted cash 1,530 1,255
Total cash, cash equivalents and restricted cash 155,642 268,643
Supplemental disclosure of cash flow information:    
Interest paid 38,418 55,011
Taxes paid 838 2,139
Supplemental disclosure of non-cash investing and financing activities:    
Transfer of loans to held for sale from loans receivable at fair value 0 8,876
Issuance of common stock in equity of subsidiary 0 1,575
Issuance of warrants for term loan 0 7,860
Recognition of derivative liability for term loan springing maturity 797 0
Recognition of derivative liability for term loan exit fee 0 11,244
Disposition of noncontrolling interests through sale and deconsolidation of businesses 0 2,918
Capital from noncontrolling interest upon initial consolidation of VIE 0 12,494
Reclassification of restricted stock units from liability to equity 2,589 0
Reclassification of restricted stock units from equity to liability 0 2,138
Issuance of common stock in connection with redemption of senior notes 67,785 0
Issuance of warrants 0 1,600
Settlement of warrant liability upon cashless exercise 9,400 0
Exchange of preferred stock investment for loan receivable $ 1,198 $ 0
[1] Amounts presented contain results from both continuing and discontinued operations. Refer to Note 4 – Discontinued Operations and Assets Held for Sale for additional information regarding cash flow associated with the results of discontinued operations.
[2]
(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).