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Basic and Diluted Earnings Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Basic and Diluted Earnings Per Share
2.
Basic and Diluted Earnings Per Share (shares reported in thousands)

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Basic earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to common stockholders

 

$

110,997

 

 

$

17,577

 

 

$

273,572

 

 

$

126,032

 

Weighted average shares outstanding

 

 

125,249

 

 

 

56,224

 

 

 

83,126

 

 

 

56,224

 

Basic earnings per share

 

$

0.89

 

 

$

0.31

 

 

$

3.29

 

 

$

2.24

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to common stockholders

 

$

110,997

 

 

$

17,577

 

 

$

273,572

 

 

$

126,032

 

Weighted average shares outstanding

 

 

125,249

 

 

 

56,224

 

 

 

83,126

 

 

 

56,224

 

Add effect of dilutive securities

 

 

 

 

 

 

 

 

 

 

 

 

Impact of convertible preferred stock

 

 

—

 

 

 

50,801

 

 

 

31,615

 

 

 

50,823

 

Impact of vested and unvested common stock options

 

 

13,104

 

 

 

11,855

 

 

 

13,230

 

 

 

11,908

 

Impact of RSU awards

 

 

1,760

 

 

 

—

 

 

 

1,945

 

 

 

—

 

Impact of convertible preferred stock warrants

 

 

—

 

 

 

640

 

 

 

—

 

 

 

655

 

Diluted weighted average common shares outstanding

 

 

140,113

 

 

 

119,520

 

 

 

129,916

 

 

 

119,610

 

Diluted earnings per share

 

$

0.79

 

 

$

0.15

 

 

$

2.11

 

 

$

1.05

 

 

 

The Company does not have any anti-dilutive shares for the three and nine months ended September 30, 2025 and 2024, respectively.