Annual report [Section 13 and 15(d), not S-K Item 405]

Income Taxes - Schedule of Effective Income Tax Rate (Details)

v3.25.4
Income Taxes - Schedule of Effective Income Tax Rate (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
Income (loss) before income taxes $ (251,566) $ (116,331) $ (27,750)
Federal statutory income tax rate 21.00% 21.00% 21.00%
Expected federal provision (benefit) for income taxes at the federal statutory income tax rate $ (52,829) $ (24,430) $ (5,828)
State and local income taxes, net of federal income tax effect (6,685) (3,159) (1,190)
Impairment of goodwill 5,175    
Changes in valuation allowance   16,153 4,808
Other   (1,393) 182
Change in fair value of warrants (3,383)    
Tax (benefits) / non-deductible expenses related to equity-based compensation (4,371) (636) 984
Acquisitions costs 2,377    
Non-deductible compensation costs related to the Edge Incentive Units 9,224    
Global intangible low-taxed income 1,156    
Other 650    
Total income tax expense (benefit) $ (25,014) $ (2,020) $ (486)
Rate      
Federal statutory income tax rate 21.00% 21.00% 21.00%
State and local income taxes, net of federal income tax effect 2.70% 2.70% 4.30%
Impairment of goodwill (2.10%)    
Changes in valuation allowance   (13.90%) (17.30%)
Other   1.20% (0.70%)
Change in fair value of warrants 1.30%    
Tax (benefits) / non-deductible expenses related to equity-based compensation 1.70% 0.50% (3.50%)
Acquisitions costs (0.90%)    
Non-deductible compensation costs related to the Edge Incentive Units (3.70%)    
Global intangible low-taxed income (0.50%)    
Other (0.30%)    
Effective tax rate 9.90% 1.70% 1.80%
BELGIUM      
Amount      
Statutory tax rate difference $ (2,172)    
Changes in valuation allowance 8,450    
Other $ (33)    
Rate      
Statutory tax rate difference 0.90%    
Changes in valuation allowance (3.40%)    
Other 0.00%    
Foreign Tax Jurisdiction, Other      
Amount      
Statutory tax rate difference $ 59    
Changes in valuation allowance 481    
Other $ 438    
Rate      
Statutory tax rate difference 0.00%    
Changes in valuation allowance (0.20%)    
Other (0.20%)    
UNITED STATES      
Amount      
Changes in valuation allowance $ 16,449    
Rate      
Changes in valuation allowance (6.50%)