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Earnings Per Share ("EPS") (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Summary of Basic and Diluted Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common shareholders (in thousands, except per share amounts):

 

 

For The Years Ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations

 

$

104,796

 

 

$

(68,931

)

 

$

(182,266

)

Less: Net loss attributable to noncontrolling interests

 

 

(1,553

)

 

 

(2,459

)

 

 

(2,232

)

Net income (loss) from continuing operations attributable to common shareholders

 

 

106,349

 

 

 

(66,472

)

 

 

(180,034

)

Net income from discontinued operations

 

 

84,317

 

 

 

48,410

 

 

 

25,431

 

Net income (loss) attributable to common shareholders

 

$

190,666

 

 

$

(18,062

)

 

$

(154,603

)

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding - basic

 

 

202,564

 

 

 

192,997

 

 

 

117,868

 

 

 

 

 

 

 

 

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Stock options

 

 

8,865

 

 

 

—

 

 

 

—

 

RSUs

 

 

8,345

 

 

 

—

 

 

 

—

 

TEUs

 

 

—

 

 

 

—

 

 

 

—

 

Weighted-average shares outstanding - diluted

 

 

219,774

 

 

 

192,997

 

 

 

117,868

 

 

 

 

 

 

 

 

 

 

Basic income (loss) per share attributable to common shareholders:

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.53

 

 

$

(0.34

)

 

$

(1.53

)

Discontinued operations

 

$

0.41

 

 

$

0.25

 

 

$

0.22

 

Net income (loss) per share

 

$

0.94

 

 

$

(0.09

)

 

$

(1.31

)

 

 

 

 

 

 

 

 

 

 

Diluted income (loss) per share attributable to common shareholders:

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.48

 

 

$

(0.34

)

 

$

(1.53

)

Discontinued operations

 

$

0.39

 

 

$

0.25

 

 

$

0.22

 

Net income (loss) per share

 

$

0.87

 

 

$

(0.09

)

 

$

(1.31

)
Summary of Shares Excluded from Computation of Diluted Net Income (Loss) Per Share

The following potentially common share equivalents were excluded from the computation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented, as well as options that are contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period (in thousands):

 

 

 

For The Years Ended December 31,

 

 

2025

 

 

2024 (1)

 

 

2023 (1)

 

Stock options

 

 

259

 

 

 

14,936

 

 

 

14,140

 

RSUs

 

 

—

 

 

 

10,587

 

 

 

—

 

TEUs

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

259

 

 

 

25,523

 

 

 

14,140

 

(1) The dilutive effect of stock options were excluded from the computation of loss per share because the assumed proceeds from the awards' exercise were greater than the average market price of the common shares.