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Earnings (Loss) Per Share | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share, Basic [Abstract] |
Earnings (Loss) Per Share | 13. Earnings (Loss) Per Share The Company reports earnings or loss per share in accordance with ASC 260, “Earnings Per Share,” which establishes standards for computing and presenting earnings or loss per share. Basic earnings or loss per share is computed by dividing net income or loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings or loss per share is computed by dividing net income or loss available to common shareholders by the weighted-average number of common shares and dilutive common share equivalents outstanding during the period. Potential common share equivalents consist of restricted stock awards (including performance stock units) and the incremental common shares issuable upon the exercise of stock options and stock issuable upon conversion of convertible debt securities. The dilutive effects of restricted stock awards and stock options are reflected in diluted earnings or loss per share by application of the treasury stock method. The dilutive effect of shares issuable upon conversion of the convertible debt securities are included in the calculation of diluted earnings or loss per share under the if-converted method. In periods where the Company is in a net loss position, diluted loss per share is the same as basic loss per share, as the effects of common stock equivalents outstanding and shares issuable upon conversion of convertible debt securities are antidilutive and therefore excluded from the calculation of diluted loss per share. A reconciliation of basic and diluted weighted average shares outstanding is as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
|  | (Amounts in thousands, except per share data) |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 14,911 |  |  | $ | (654 | ) |  | $ | 35,607 |  |  | $ | 8,355 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares used in computing net income (loss) per share – basic |  |  | 56,265 |  |  |  | 56,012 |  |  |  | 56,208 |  |  |  | 55,896 |
Effect of dilutive shares: |  |  |  |  |  |  |  |  |  |  |  |
Options and stock units |  |  | 267 |  |  |  | — |  |  |  | 312 |  |  |  | 419 |
Dilutive potential common shares |  |  | 267 |  |  |  | — |  |  |  | 312 |  |  |  | 419 |
Denominator for diluted earnings (loss) per share - adjusted weighted average shares used in computing earnings (loss) per share - diluted |  |  | 56,532 |  |  |  | 56,012 |  |  |  | 56,520 |  |  |  | 56,315 |
Earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.27 |  |  | $ | (0.01 | ) |  | $ | 0.63 |  |  | $ | 0.15 |
Diluted |  | $ | 0.26 |  |  | $ | (0.01 | ) |  | $ | 0.63 |  |  | $ | 0.15 |
For the three and nine months ended September 30, 2025, 652,930 shares and 610,880 shares, respectively, of the Company’s common stock were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. Comparatively, for the three and nine months ended September 30, 2024, 491,206 shares and 404,989 shares, respectively were excluded because their inclusion would have been anti-dilutive.

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