Basic and Diluted Net Earnings (Loss) per Common Share

9 Months Ended

Sep. 30, 2025

Basic and Diluted Net Earnings (Loss) per Common Share

The following table provides a reconciliation of the numerator and denominator used in computing basic and diluted earnings per share:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2025		2024		2025		2024
Numerator:
Net income (loss) attributable to common stockholders	$	17,306	$	(6,729)	$	(28,800)	$	(70,845)
Denominator:
Weighted average common shares outstanding — basic	308,468,423		304,690,596		308,139,134		303,792,479
Dilutive effect of stock based compensation awards (a)	1,965,071		—		—		—
Weighted average common shares outstanding — diluted	310,433,494		304,690,596		308,139,134		303,792,479
Earnings (loss) per share attributable to common shareholders:
Basic earnings (loss) per share	0.06		(0.02)		(0.09)		(0.23)
Diluted earnings (loss) per share	0.06		(0.02)		(0.09)		(0.23)

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(a) The Company was in a net loss position for the nine months ended September 30, 2025 and both the three and nine months ended September 30, 2024 and therefore the impact of stock-based compensation awards was excluded from the computation of dilutive loss per share as the inclusion of such amounts would be anti-dilutive.

The table below presents potential shares of common stock that were excluded from the computation as they were anti-dilutive using the treasury stock method. Because the Company had a net loss for both comparative periods, the weighted average shares used to calculate both basic and diluted earnings per share are the same:


	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands)	2025	2024	2025	2024
Options to purchase common stock	27,026	26,139	28,342	26,139
Non-vested restricted stock units	8,601	9,453	12,151	9,453
Total number of potentially issuable shares	35,627	35,592	40,493	35,592