Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Basic and Diluted Earnings Per Share

The following table summarizes the basic and diluted earnings per share calculations for the three and nine months ended September 30, 2025 and 2024 (in thousands, except shares and per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Numerator:
Net income attributable to the Company	$	21,071	$	4,756	$	47,675	$	21,804
Adjustments to net income attributable to the Company	—		—		9		(7)
Net income attributable to common shareholders	$	21,071	$	4,756	$	47,684	$	21,797
Numerator—basic common shares:
Net income attributable to common shareholders	$	21,071	$	4,756	$	47,684	$	21,797
Less: net income allocated to participating securities	19		5		43		31
Allocation of basic net income among common shareholders	$	21,052	$	4,751	$	47,641	$	21,766
Numerator for basic net income available to Class A common shareholders	$	21,045	$	4,749	$	47,625	$	21,759
Numerator for basic net income available to Class B common shareholders	$	7	$	2	$	16	$	7
Numerator—diluted common shares:
Net income attributable to common shareholders	$	21,071	$	4,756	$	47,684	$	21,797
Reallocation of income from dilutive potential securities	21,495		5,109		48,813		23,480
Less: net income allocated to participating securities	18		5		40		30
Allocation of diluted net income among common shareholders	$	42,548	$	9,860	$	96,457	$	45,247
Numerator for diluted net income available to Class A common shareholders	$	42,541	$	9,858	$	96,441	$	45,240
Numerator for diluted net income available to Class B common shareholders	$	7	$	2	$	16	$	7
Denominator:
Basic weighted average Class A common shares outstanding	69,796,339		69,279,028		69,692,349		69,192,620
Diluted weighted average Class A common shares outstanding	149,430,920		146,565,417		149,267,968		146,394,307
Basic and diluted weighted average Class B common shares outstanding	79,233,544		79,233,544		79,233,544		79,233,544

Basic earnings per share:
Class A common shares	$	0.30	$	0.07	$	0.68	$	0.31
Class B common shares	$	0.00	$	0.00	$	0.00	$	0.00
Diluted earnings per share:
Class A common shares	$	0.28	$	0.07	$	0.65	$	0.31
Class B common shares	$	0.00	$	0.00	$	0.00	$	0.00

Anti-dilutive potential RSUs	—		—		—		—
Anti-dilutive potential Performance RSUs	4,489,097		4,107,889		4,489,097		4,107,889
Anti-dilutive potential Restricted Shares (weighted average)	—		—		—		—

Anti-dilutive potential Class A common shares from exchanges (weighted average)	3,137,134		3,137,134		3,137,134		3,137,134