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EARNINGS (LOSS) PER SHARE (Tables) | 6 Months Ended
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Jun. 30, 2025
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share | The following table displays the computation of basic and diluted earnings (loss) per share, or EPS, for both Class A and Class B common stock for the three and six months ended June 30, 2025 and 2024:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (in millions, except per share amounts)
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | 22.0 |  |  | $ | (7.8) |  |  | $ | 40.4 |  |  | $ | (14.0) |
Less: Undistributed income allocated to participating securities | (1.1) |  |  | — |  |  | (2.0) |  |  | — |
Net income (loss) attributable to common shareholders | 20.9 |  |  | (7.8) |  |  | 38.4 |  |  | (14.0) |
Denominator: |  |  |  |  |  |  |
Weighted-average common shares outstanding: basic (both Class A and B) | 15.4 |  |  | 14.9 |  |  | 15.3 |  |  | 14.8 |
Effect of dilutive securities: |  |  |  |  |  |  |
Redeemable convertible preferred stock | 0.8 |  |  | — |  |  | 0.8 |  |  | — |
Service-based restricted stock units | 0.5 |  |  | — |  |  | 0.6 |  |  | — |
Market-based restricted stock units | 0.3 |  |  | — |  |  | 0.3 |  |  | — |
Stock options | 0.1 |  |  | — |  |  | 0.1 |  |  | — |
Weighted-average common shares outstanding: diluted (both Class A and B) | 17.1 |  |  | 14.9 |  |  | 17.1 |  |  | 14.8 |
Earnings (loss) per common share (both Class A and B): |  |  |  |  |  |  |
Basic | $ | 1.36 |  |  | $ | (0.52) |  |  | $ | 2.51 |  |  | $ | (0.95) |
Diluted | $ | 1.29 |  |  | $ | (0.52) |  |  | $ | 2.36 |  |  | $ | (0.95) |
Schedule of Anti-Dilutive Securities | We excluded the following potentially dilutive common stock equivalents, presented based on amounts outstanding at each period end, from the computation of diluted EPS attributable to common shareholders for the periods indicated because including them would have had an anti-dilutive effect:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (in millions)
Stock options | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Nonvested shares subject to repurchase | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Service-based restricted stock units | — |  |  | 1.0 |  |  | — |  |  | 1.0 |
Market-based restricted stock units | — |  |  | 0.4 |  |  | — |  |  | 0.4 |
Redeemable convertible preferred stock (as converted to common stock) | — |  |  | 0.8 |  |  | — |  |  | 0.8 |
Warrants to purchase common stock | 7.5 |  |  | 7.7 |  |  | 7.5 |  |  | 7.7 |
Total | 7.5 |  |  | 10.1 |  |  | 7.5 |  |  | 10.1 |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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