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NET LOSS PER SHARE | 6 Months Ended
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Jun. 30, 2025
Earnings Per Share [Abstract] |
NET LOSS PER SHARE | NET LOSS PER SHARE Basic and diluted net loss per share was as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
Dollars in thousands, except per share amounts | 2025 |  | 2024 |  | 2025 |  | 2024
Basic net loss per share: |  |  |  |  |  |  |
Net loss | $ | (484,073) |  |  | $ | (12,402) |  |  | $ | (509,366) |  |  | $ | (15,683) |
Weighted average common shares outstanding | 76,695 |  |  | 77,409 |  |  | 76,579 |  |  | 77,572 |
Basic net loss per common share | $ | (6.31) |  |  | $ | (0.16) |  |  | $ | (6.65) |  |  | $ | (0.20) |
Diluted net loss per share: |  |  |  |  |  |  |
Net loss | $ | (484,073) |  |  | $ | (12,402) |  |  | $ | (509,366) |  |  | $ | (15,683) |
Weighted average common shares outstanding — Basic | 76,695 |  |  | 77,409 |  |  | 76,579 |  |  | 77,572 |
Effect of dilutive securities: |  |  |  |  |  |  |
Stock options and restricted stock | — |  |  | — |  |  | — |  |  | — |
Weighted average common shares for diluted earnings per share | 76,695 |  |  | 77,409 |  |  | 76,579 |  |  | 77,572 |
Diluted net loss per common share | $ | (6.31) |  |  | $ | (0.16) |  |  | $ | (6.65) |  |  | $ | (0.20) |
Basic earnings per share is computed by dividing net income by the weighted-average common shares outstanding during the period. Diluted earnings per share is computed based on the weighted-average common shares outstanding plus the effect of dilutive potential common shares outstanding during the period calculated using the treasury stock method. Dilutive potential common shares include employee equity share options, non-vested shares, and similar equity instruments granted by the Company. Potential common share equivalents have been excluded where their inclusion would be anti-dilutive. For periods in which the Company generated a net loss, the Company does not include the potential impact of dilutive securities in diluted net loss per share, as the impact of these items is anti-dilutive. Common stock of approximately 1.5 million and 1.3 million shares at June 30, 2025 and 2024, respectively, were not included in the computation of diluted net loss per share because their effect would have been anti-dilutive.

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