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Net Income (Loss) Per Share | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Net income (loss) per share | 17. NET INCOME (LOSS) PER SHARE Basic net income (loss) per share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during each period. The Convertible and Redeemable Series A-2 Preferred Stock is considered a participating security during the applicable period. Net losses are not allocated to the Convertible and Redeemable Series A-2 stockholders, as they were not contractually obligated to share in the Company’s losses. Diluted net income (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the weighted average number of common and dilutive common equivalent shares outstanding for the period using the treasury-stock method or the if-converted method. Potentially dilutive shares are comprised of awards of restricted stock (RSAs), restricted stock units (RSUs), stock appreciation rights (SARs) and shares of common stock underlying stock options outstanding under the Company's stock incentive plans, as applicable. During the three and nine months ended September 30, 2024 there is no difference in the number of shares used to calculate basic and diluted shares outstanding during the applicable period due to the Company’s net loss attributable to common stockholders and potentially dilutive shares being anti-dilutive. The following table summarizes the computation of basic and diluted net income (loss) per share attributable to common stockholders of the Company:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Net income (loss) |  | $ | 8,378 |  |  | $ | (10,564 | ) |  | $ | 7,375 |  |  | $ | (34,091 | )
Convertible and Redeemable Series A-2 Preferred Stock dividend |  |  | — |  |  |  | (2,750 | ) |  |  | (4,150 | ) |  |  | (8,314 | )
Net income (loss) attributable to common stockholders |  |  | 8,378 |  |  |  | (13,314 | ) |  |  | 3,225 |  |  |  | (42,405 | )
Weighted average common shares outstanding |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding - basic |  |  | 35,300 |  |  |  | 34,242 |  |  |  | 35,003 |  |  |  | 32,647 |
Effect of dilutive stock options |  |  | 1,390 |  |  |  | — |  |  |  | 1,243 |  |  |  | — |
Effect of dilutive restricted stock |  |  | 3,245 |  |  |  | — |  |  |  | 3,301 |  |  |  | — |
Diluted |  |  | 39,935 |  |  |  | 34,242 |  |  |  | 39,547 |  |  |  | 32,647 |
Net income (loss) per share attributable to common stockholders |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.24 |  |  | $ | (0.39 | ) |  | $ | 0.09 |  |  | $ | (1.30 | )
Diluted |  | $ | 0.21 |  |  | $ | (0.39 | ) |  | $ | 0.08 |  |  | $ | (1.30 | )
The following common stock equivalents were excluded from the calculation of dilute d net income (loss) per share attributable to common stockholders for the nine months ended September 30, 2025 and the three and nine months ended September 30, 2024 because their effect would have been anti-dilutive:
|  | September 30, |
|  | 2025(1) |  |  | 2024(1) |
Stock options |  |  | — |  |  |  | 3,059,061 |
Restricted stock |  |  | — |  |  |  | 2,629,026 |
Series A-2 Preferred Stock |  |  | 5,353,478 |  |  |  | 4,448,404 |
SARs(2) |  |  | — |  |  |  | 3,000,000 |
_____________________________ (1) Includes 2,950,220 and 7,891,144 common stock equivalents that are out of the money as of September 30, 2025 and September 30, 2024, respectively. (2) 2021 Performance SARs were cancelled effective as of December 31, 2024.

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