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

Income Taxes - Reconciliation of income tax provision (Details)

v3.26.1
Income Taxes - Reconciliation of income tax provision (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Amount    
U.S. federal statutory tax rate $ (67,423) $ (64,258)
State and local income taxes, net of federal income tax effect 150  
Non-controlling interest and nontaxable income   36,984
Changes in valuation allowance 29,522 29,929
Nontaxable or nondeductible items    
Losses not subject to tax 34,926  
Other 797  
Changes in unrecognized tax benefits 3,410  
Investment in P3 LLC   (796)
Return to provision   2,006
Deferred tax adjustments   (21)
Other reconciling items 643 543
Total income tax expense $ 2,025 $ 4,387
Percent    
U.S. federal statutory tax rate 21.00%  
State and local income taxes, net of federal income tax effect 0.00%  
Changes in valuation allowance (9.20%)  
Nontaxable or nondeductible items    
Losses not subject to tax (10.90%)  
Other (0.20%)  
Changes in unrecognized tax benefits (1.10%)  
Other reconciling items (0.20%)  
Provision expense (benefit) for taxes and effective tax rate (0.60%) (1.40%)