XML 33 R21.htm IDEA: XBRL DOCUMENT v3.25.3
Earnings Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The components of basic and diluted earnings per share are as follows (in thousands, except share and per share data):
Three months ended September 30,
20252024
BasicDilutedBasicDiluted
Numerator for basic and diluted net loss per common share:
Net loss
$(3,598)$(3,598)$(48,577)$(48,577)
Plus: Convertible Notes interest expense (after-tax)
— — — — 
Net loss available to the Company’s common shareholders
$(3,598)$(3,598)$(48,577)$(48,577)
Denominator:
Basic weighted-average outstanding shares of common stock40,558,629 40,558,629 43,924,158 43,924,158 
Dilutive effect of:
Equity incentive plans
— — — — 
Convertible debt — — — — 
Diluted weighted-average outstanding shares of common stock40,558,629 40,558,629 43,924,158 43,924,158 
Net loss per share
$(0.09)$(0.09)$(1.11)$(1.11)

Nine months ended September 30,
20252024
BasicDilutedBasicDiluted
Numerator for basic and diluted net loss per common share:
Net income (loss)
$46,984 $46,984 $(1,040)$(1,040)
Plus: Convertible Notes interest expense (after-tax)
— — — — 
Net income (loss) available to the Company’s common shareholders
$46,984 $46,984 $(1,040)$(1,040)
Denominator:
Basic weighted-average outstanding shares of common stock41,609,182 41,609,182 45,088,272 45,088,272 
Dilutive effect of:
Equity incentive plans
— 75,967 — — 
Convertible debt — — — — 
Diluted weighted-average outstanding shares of common stock41,609,182 41,685,149 45,088,272 45,088,272 
Net income (loss) per share
$1.13 $1.13 $(0.02)$(0.02)

For the three months ended September 30, 2025 and 2024, there were 2,778,944 and 1,879,840 shares, respectively, of stock options and restricted stock excluded from the calculation of diluted shares as they were anti-dilutive due to the net loss and average stock price during the 2025 and 2024 periods, respectively. For the nine months ended September 30, 2025 and 2024, there were 848,420 and 1,879,840 shares, respectively, of stock options and restricted stock excluded from the calculation of diluted shares as they were anti-dilutive due to the average stock price during the 2025 and 2024 periods and due to the net loss during 2024, respectively. For the three months ended September 30, 2025 and 2024, 4,029,861 and 4,213,808 shares, respectively, related to convertible debt were excluded from diluted shares because they were anti-dilutive under the if-converted method for the diluted net income per share calculation. For the nine months ended September 30, 2025 and 2024, 4,029,861 and 5,406,679 shares, respectively, related to convertible debt were excluded from diluted shares because they were anti-dilutive under the if-converted method for the diluted net income per share calculation.