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INCOME (LOSS) PER SHARE (Tables)

6 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

Reconciliation of Basic and Diluted Loss Per Share

The components of basic and diluted loss per share are as follows:

		Three Months Ended								Six Months Ended
		June 30,								June 30,
(in thousands, except per share data)		2025				2024				2025				2024
Income (loss) from continuing operations		$	7,596			$	1,136			$	(23,625	)		$	(28,727	)
Less: Net income attributable to non-redeemable noncontrolling interest			(3,085	)			(1,807	)			(2,869	)			(884	)
Less: Net loss attributable to redeemable noncontrolling interest			—				240				—				443
Net income (loss) from continuing operations attributable to Pursuit			4,511				(431	)			(26,494	)			(29,168	)
Add: Allocation to participating securities			—				572				—				7,953
Convertible preferred stock dividends paid in cash			—				(1,950	)			—				(3,900	)
Net income (loss) from continuing operations allocated to Pursuit common stockholders (basic)			4,511				(1,809	)			(26,494	)			(25,115	)
Income from discontinued operations, net of tax			1,135				29,742				1,004				33,362
Less: Allocation to participating securities			—				(7,140	)			—				(8,023	)
Net income from discontinued operations allocated to Pursuit common stockholders (basic)			1,135				22,602				1,004				25,339
Net income (loss) allocated to Pursuit common stockholders - basic and diluted		$	5,646			$	20,793			$	(25,490	)		$	224
Basic weighted-average outstanding common shares			28,256				21,126				28,184				21,078
Additional dilutive shares related to share-based compensation			136				—				—				—
Diluted weighted-average outstanding common shares			28,392				21,126				28,184				21,078
Income (loss) per common share:
Basic:
Continuing operations		$	0.16			$	(0.09	)		$	(0.94	)		$	(1.19	)
Discontinued operations			0.04				1.07				0.04				1.20
Basic income (loss) attributable to Pursuit common stockholders:		$	0.20			$	0.98			$	(0.90	)		$	0.01
Diluted (1):
Continuing operations		$	0.16			$	(0.09	)		$	(0.94	)		$	(1.19	)
Discontinued operations			0.04				1.07				0.04				1.20
Diluted income (loss) attributable to Pursuit common stockholders:		$	0.20			$	0.98			$	(0.90	)		$	0.01

(1)Diluted income (loss) per common share is calculated using the more dilutive of the two-class method or if-converted method. The two-class method uses net income (loss) available to common stockholders and assumes conversion of all potential shares other than the participating securities. The if-converted method uses net income (loss) available to common stockholders and assumes conversion of all potential shares including the participating securities. Dilutive potential common shares include outstanding stock options, unvested restricted share units and convertible preferred stock. We apply the two-class method in calculating income (loss) per common share as unvested share-based payment awards that contain nonforfeitable rights to dividends and preferred stock are considered participating securities. Accordingly, such securities are included in the earnings allocation in calculating income (loss)

per share. The adjustment to the carrying value of the redeemable noncontrolling interest is reflected in income (loss) per common share.

Schedule of Excluded Weighted-Average Potential Common Shares from Calculations of Diluted Net Income (Loss) Per Common Shares

We excluded the following weighted-average potential common shares from the calculations of diluted net income (loss) per common share during the applicable periods because their inclusion would have been anti-dilutive:

		Three Months Ended								Six Months Ended
		June 30,								June 30,
(in thousands)		2025				2024				2025			2024
Unvested restricted share-based awards			114				2				193			25
Unvested performance share-based awards			146				152				235			102
Stock options			225				138				194			138

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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

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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

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