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Income (Loss) Per Share | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Income (Loss) Per Share | NOTE 13. INCOME (LOSS) PER SHARE The components of basic and diluted income (loss) per share consisted of the following:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(in thousands, except per share data) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Income from continuing operations |  | $ | 87,983 |  |  | $ | 50,541 |  |  | $ | 64,358 |  |  | $ | 21,814 |
Net income attributable to non-redeemable noncontrolling interest |  |  | (11,248 | ) |  |  | (7,178 | ) |  |  | (14,117 | ) |  |  | (8,062 | )
Net (income) loss attributable to redeemable noncontrolling interest |  |  | — |  |  |  | (71 | ) |  |  | — |  |  |  | 372 |
Net income from continuing operations attributable to Pursuit |  |  | 76,735 |  |  |  | 43,292 |  |  |  | 50,241 |  |  |  | 14,124 |
Adjustment to allocation to participating securities |  |  | — |  |  |  | (9,911 | ) |  |  | — |  |  |  | (1,988 | )
Dividends paid on convertible preferred stock |  |  | — |  |  |  | (1,950 | ) |  |  | — |  |  |  | (5,850 | )
Net income from continuing operations allocated to Pursuit common stockholders (basic) |  |  | 76,735 |  |  |  | 31,431 |  |  |  | 50,241 |  |  |  | 6,286 |
(Loss) income from discontinued operations, net of tax |  |  | (2,882 | ) |  |  | 5,323 |  |  |  | (1,878 | ) |  |  | 38,685 |
Adjustment to allocation to participating securities |  |  | — |  |  |  | (1,276 | ) |  |  | — |  |  |  | (9,294 | )
Net (loss) income from discontinued operations allocated to Pursuit common stockholders (basic) |  |  | (2,882 | ) |  |  | 4,047 |  |  |  | (1,878 | ) |  |  | 29,391 |
Net income allocated to Pursuit common stockholders (basic) |  | $ | 73,853 |  |  | $ | 35,478 |  |  | $ | 48,363 |  |  | $ | 35,677 |
Add: Allocation to participating securities |  |  | — |  |  |  | 177 |  |  |  | — |  |  |  | 165 |
Net income allocated to Pursuit common stockholders (diluted) |  | $ | 73,853 |  |  | $ | 35,655 |  |  | $ | 48,363 |  |  | $ | 35,842 |
Basic weighted-average outstanding common shares |  |  | 28,275 |  |  |  | 21,166 |  |  |  | 28,214 |  |  |  | 21,107 |
Additional dilutive shares related to share-based compensation |  |  | 183 |  |  |  | 449 |  |  |  | 186 |  |  |  | 410 |
Diluted weighted-average outstanding common shares |  |  | 28,458 |  |  |  | 21,615 |  |  |  | 28,400 |  |  |  | 21,517 |
Income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 2.71 |  |  | $ | 1.49 |  |  | $ | 1.78 |  |  | $ | 0.30 |
Discontinued operations |  |  | (0.10 | ) |  |  | 0.19 |  |  |  | (0.07 | ) |  |  | 1.39 |
Basic income attributable to Pursuit common stockholders: |  | $ | 2.61 |  |  | $ | 1.68 |  |  | $ | 1.71 |  |  | $ | 1.69 |
Diluted (1): |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 2.70 |  |  | $ | 1.46 |  |  | $ | 1.77 |  |  | $ | 0.30 |
Discontinued operations |  |  | (0.10 | ) |  |  | 0.19 |  |  |  | (0.07 | ) |  |  | 1.37 |
Diluted income attributable to Pursuit common stockholders: |  | $ | 2.60 |  |  | $ | 1.65 |  |  | $ | 1.70 |  |  | $ | 1.67 |
(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. 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 |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(in thousands) |  | 2025 |  |  | 2024 |  |  | 2025 |  | 2024 |
Unvested restricted share-based awards |  |  | 16 |  |  |  | 2 |  |  |  | 69 |  |  | 18 |
Unvested performance share-based awards |  |  | 103 |  |  |  | 152 |  |  |  | 140 |  |  | 119 |
Stock options |  |  | — |  |  |  | 138 |  |  |  | 121 |  |  | 138 |

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