Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Changes in Redeemable Non-controlling Interests and Stockholders??? Equity

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Condensed Consolidated Statements of Changes in Redeemable Non-controlling Interests and Stockholders’ Equity - USD ($)
$ in Thousands
Total
Class A Common Stock
Class B Common Stock
Common Stock
Class A Common Stock
Common Stock
Class B Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Treasury Stock
Non-controlling Interests (“NCI”)
Redeemable non-controlling interests, beginning balance at Dec. 31, 2022 $ 46,623                  
Redeemable Non-controlling Interests (“RNCI”)                    
Distributions to RNCI (335)                  
Accretion of tax equity financing fees 55                  
Investment fund call option exercise 195                  
Net income (loss) 1,456                  
Redeemable non-controlling interests, ending balance at Jun. 30, 2023 47,994                  
Beginning balance (in shares) at Dec. 31, 2022       33,948,362 18,000,000          
Treasury stock, beginning balance (in shares) at Dec. 31, 2022                 2,101,795  
Beginning balance at Dec. 31, 2022 873,031     $ 3 $ 2 $ 306,314 $ 533,549 $ (4,051) $ (11,788) $ 49,002
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Exercise of stock options (in shares)       216,600            
Exercise of stock options 2,093         2,093        
Stock-based compensation expense 7,999         7,999        
Employee stock purchase plan (in shares)       24,833            
Employee stock purchase plan 1,017         1,017        
Restricted stock units released (in shares)       10,815            
Unrealized gain (loss) from interest rate hedges, net (48)             (48)    
Foreign currency translation adjustment 1,226             1,215   11
Accretion of tax equity financing fees (55)           (55)      
Investment fund call option exercise (195)         (195)        
Contributions from NCI 922                 922
Distributions to NCI (20,521)                 (20,521)
Net income (loss) 8,514           7,470     1,044
Ending balance (in shares) at Jun. 30, 2023       34,200,610 18,000,000          
Treasury stock, ending balance (in shares) at Jun. 30, 2023                 2,101,795  
Ending balance at Jun. 30, 2023 873,983     $ 3 $ 2 317,228 540,964 (2,884) $ (11,788) 30,458
Redeemable non-controlling interests, beginning balance at Mar. 31, 2023 46,700                  
Redeemable Non-controlling Interests (“RNCI”)                    
Distributions to RNCI (157)                  
Accretion of tax equity financing fees 28                  
Net income (loss) 1,423                  
Redeemable non-controlling interests, ending balance at Jun. 30, 2023 47,994                  
Beginning balance (in shares) at Mar. 31, 2023       34,030,362 18,000,000          
Treasury stock, beginning balance (in shares) at Mar. 31, 2023                 2,101,795  
Beginning balance at Mar. 31, 2023 894,772     $ 3 $ 2 310,726 534,624 (4,645) $ (11,788) 65,850
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Exercise of stock options (in shares)       134,600            
Exercise of stock options 1,523         1,523        
Stock-based compensation expense 3,962         3,962        
Employee stock purchase plan (in shares)       24,833            
Employee stock purchase plan 1,017         1,017        
Restricted stock units released (in shares)       10,815            
Unrealized gain (loss) from interest rate hedges, net 820             820    
Foreign currency translation adjustment 943             941   2
Accretion of tax equity financing fees (28)           (28)      
Contributions from NCI 812                 812
Distributions to NCI (36,828)                 (36,828)
Net income (loss) 6,990           6,368     622
Ending balance (in shares) at Jun. 30, 2023       34,200,610 18,000,000          
Treasury stock, ending balance (in shares) at Jun. 30, 2023                 2,101,795  
Ending balance at Jun. 30, 2023 873,983     $ 3 $ 2 317,228 540,964 (2,884) $ (11,788) 30,458
Redeemable non-controlling interests, beginning balance at Dec. 31, 2023 46,865                  
Redeemable Non-controlling Interests (“RNCI”)                    
Distributions to RNCI (287)                  
Accretion of tax equity financing fees 54                  
Net income (loss) (2,855)                  
Redeemable non-controlling interests, ending balance at Jun. 30, 2024 $ 43,777                  
Beginning balance (in shares) at Dec. 31, 2023   34,277,195 18,000,000 34,277,195 18,000,000          
Treasury stock, beginning balance (in shares) at Dec. 31, 2023 2,101,795               2,101,795  
Beginning balance at Dec. 31, 2023 $ 925,886     $ 3 $ 2 320,892 595,911 (3,045) $ (11,788) 23,911
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Exercise of stock options (in shares)       62,589            
Exercise of stock options 504         504        
Stock-based compensation expense 6,704         6,704        
Employee stock purchase plan (in shares)       32,841            
Employee stock purchase plan 990         990        
Restricted stock units released (in shares)       29,890            
Unrealized gain (loss) from interest rate hedges, net 614             614    
Foreign currency translation adjustment (1,351)             (1,369)   18
Accretion of tax equity financing fees (54)           (54)      
Contributions from NCI 30,792         3,040       27,752
Distributions to NCI (1,004)                 (1,004)
Purchase of shares from NCI (23,760)         226       (23,986)
Net income (loss) $ 1,871           2,073     (202)
Ending balance (in shares) at Jun. 30, 2024   34,402,515 18,000,000 34,402,515 18,000,000          
Treasury stock, ending balance (in shares) at Jun. 30, 2024 2,101,795               2,101,795  
Ending balance at Jun. 30, 2024 $ 941,192     $ 3 $ 2 332,356 597,930 (3,800) $ (11,788) 26,489
Redeemable non-controlling interests, beginning balance at Mar. 31, 2024 43,908                  
Redeemable Non-controlling Interests (“RNCI”)                    
Distributions to RNCI (158)                  
Accretion of tax equity financing fees 27                  
Redeemable non-controlling interests, ending balance at Jun. 30, 2024 43,777                  
Beginning balance (in shares) at Mar. 31, 2024       34,320,161 18,000,000          
Treasury stock, beginning balance (in shares) at Mar. 31, 2024                 2,101,795  
Beginning balance at Mar. 31, 2024 930,163     $ 3 $ 2 327,367 592,947 (3,592) $ (11,788) 25,224
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Exercise of stock options (in shares)       30,700            
Exercise of stock options 321         321        
Stock-based compensation expense 3,678         3,678        
Employee stock purchase plan (in shares)       32,841            
Employee stock purchase plan 990         990        
Restricted stock units released (in shares)       18,813            
Unrealized gain (loss) from interest rate hedges, net 75             75    
Foreign currency translation adjustment (189)             (283)   94
Accretion of tax equity financing fees (27)           (27)      
Contributions from NCI 1,928                 1,928
Distributions to NCI (941)                 (941)
Net income (loss) $ 5,194           5,010     184
Ending balance (in shares) at Jun. 30, 2024   34,402,515 18,000,000 34,402,515 18,000,000          
Treasury stock, ending balance (in shares) at Jun. 30, 2024 2,101,795               2,101,795  
Ending balance at Jun. 30, 2024 $ 941,192     $ 3 $ 2 $ 332,356 $ 597,930 $ (3,800) $ (11,788) $ 26,489