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Earnings/(Loss) per Share | 6 Months Ended
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Jun. 30, 2026
Earnings Per Share [Abstract] |
Earnings/(Loss) per Share | Earnings/(Loss) per Share The following reconciles shares outstanding for basic and diluted earnings/(loss) per share for the three and six months ended June 30, 2026 and 2025 (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Weighted average shares outstanding | 70,604 |  |  | 58,030 |  |  | 64,071 |  |  | 58,284 |
Less: Unallocated ESOP shares | (41) |  |  | (107) |  |  | (49) |  |  | (115) |
Unallocated incentive award shares | (324) |  |  | (185) |  |  | (392) |  |  | (280) |
Average basic shares outstanding | 70,239 |  |  | 57,738 |  |  | 63,630 |  |  | 57,889 |
Add: Effect of dilutive securities: |  |  |  |  |  |  |
Incentive awards | — |  |  | 2 |  |  | 8 |  |  | 2 |
Average diluted shares outstanding | 70,239 |  |  | 57,740 |  |  | 63,638 |  |  | 57,891 |
The Company calculates earnings per share using the two-class method, as NVCE Stock qualifies as a participating security under ASC 260. Since earnings per share attributable to common stock and NVCE Stock are identical, a single basic and diluted earnings per share amount is presented for both classes of stock. All NVCE shares presented in this document are reported on an as-converted common stock equivalent basis. The following table presents the antidilutive stock options and warrants that were excluded from the earnings per share calculation for the three and six months ended June 30, 2026 and 2025. For the three months ended June 30, 2026 shares related to incentive awards were excluded from the diluted earnings/(loss) per share calculation as they were antidilutive.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Stock options | 1,178 |  |  | 1,532 |  |  | 1,257 |  |  | 1,561 |
NVCE stock warrants | 11,387 |  |  | — |  |  | 11,387 |  |  | — |
Incentive awards | 12 |  |  | — |  |  | — |  |  | — |

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