v3.25.4
Note 9 - Earnings (Loss) Per Share
12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE 9: Earnings (Loss) Per Share

 

The following table presents a reconciliation of basic and diluted earnings (loss) per share for the years ended December 31, 2025, 2024 and 2023:

 

  

For the Years Ended December 31,

 
  

2025

  

2024

  

2023

 

Net income (loss)

 $57,707  $40,033  $(17,807)

(Income) loss allocated to noncontrolling interest

  (1,149)  (742)  580 

Net income (loss) allocable to common shares

  56,558   39,291   (17,227)

Weighted-average shares outstanding—Basic

  233,923,616   224,798,958   224,414,443 

Dilutive securities

  826,815   785,348    

Weighted-average shares outstanding—Diluted

  234,750,431   225,584,306   224,414,443 

Earnings (loss) per share—Basic

 $0.24  $0.17  $(0.08)

Earnings (loss) per share—Diluted

 $0.24  $0.17  $(0.08)

 

Certain IROP units totaling 5,941,643 for the year ended December 31, 2025, were excluded from the earnings per share computation because their effect would have been anti-dilutive. Certain IROP units and shares of common stock deliverable under the forward sale agreement totaling 14,192,127 for the year ended December 31, 2024, were excluded from the earnings per share computation because their effect would have been anti-dilutive. Certain IROP units, PSUs, RSUs, restricted stock awards and shares of common stock deliverable under the forward sale agreement totaling 6,669,403 for the year ended December 31, 2023, were excluded from the earnings per share computation because their effect would have been anti-dilutive.