Earnings per share

3 Months Ended

Mar. 31, 2026

14. Earnings per share:

Basic net income per share of common stock was computed by dividing net income attributable to common stockholders by the weighted-average shares of common stock outstanding during the period. Diluted net income per share of common stock was calculated by including the basic weighted-average shares of common stock outstanding adjusted for the effects of all potential dilutive shares of common stock, unless their effect would be anti-dilutive.

Reconciliations of net income or loss and weighted-average shares of common stock outstanding for purposes of calculating basic and diluted net income per share are as follows:


	Three months ended March 31:
	2026		2025
Net (income) loss	$	(81,385)	$	34,141
(Income) loss attributable to non-controlling interests	(39,649)		3,626
Net (income) loss attributable to common stockholders	$	(41,736)	$	30,515

Basic weighted-average common shares outstanding	152,224,813		126,664,363
Add shares issuable upon exercise or vesting of equity awards	6,255,927		—
Diluted weighted-average common shares outstanding	158,480,740		126,664,363

Net (income) loss per share attributable to common stockholders:
Basic	$	(0.27)	$	0.24
Diluted	$	(0.26)	$	0.24

Equity awards with anti-dilutive effects have been excluded from the calculations.