EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Earnings Per Share, Basic and Diluted


	For the years ended December 31,
	2024		2023		2022
Numerator:
Net income (loss)	$	145,074	$	226,801	$	(187,282)
Dividends on Series A convertible preferred stock	(27,500)		(27,462)		(11,526)
Income allocated to participating preferred stock	(10,117)		(17,348)		—
Net income (loss) attributable to common stockholders	$	107,457	$	181,991	$	(198,808)

Effect of dilutive securities:
Allocation of earnings to participating securities	$	10,117	$	17,348	$	—
Reallocation of earnings to participating securities	(9,971)		(16,934)		—
Net income (loss) available to common stockholders after assumed conversions	$	107,603	$	182,405	$	(198,808)

Denominator:
Weighted average basic common shares outstanding, basic[1]	233,667		230,784		226,947
Dilutive effect of common shares	3,737		6,180		—
Weighted-average common shares outstanding, diluted	237,404		236,964		226,947

Earnings per share:[1]
Basic	$	0.46	$	0.79	$	(0.88)
Diluted	$	0.45	$	0.77	$	(0.88)

(1) Forward Stock Split - The share numbers have been retrospectively adjusted to reflect the three-for-one stock split that became effective on November 13, 2023. See Note 2. Basis of Presentation and Summary of Significant Accounting Policies for more information.