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Net Loss per Common Share

6 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

Net Loss per Common Share

Note 12—Net Loss per Common Share

The following summarizes the calculation of net loss per common share attributable to common shareholders for the three and six months ended June 30, 2025 and 2024:


		Three Months Ended						Six Months Ended
		June 30,						June 30,
(in thousands, except per share data)		2025			2024			2025			2024
Loss from continuing operations, net of tax		$	(83,822)		$	(6,742)		$	(87,632)		$	(20,135)
Loss from discontinued operations, net of tax			(785,236)			(25,171)			(806,408)			(33,664)
Net loss		$	(869,058)		$	(31,913)		$	(894,040)		$	(53,799)

Weighted average shares outstanding - basic			76,935			76,727			77,102			76,526
Dilutive shares			—			—			—			—
Weighted average shares outstanding - diluted			76,935			76,727			77,102			76,526

Basic loss per common share:
Loss from continuing operations, net of tax		$	(1.09)		$	(0.09)		$	(1.14)		$	(0.26)
Loss from discontinued operations, net of tax			(10.21)			(0.33)			(10.46)			(0.44)
Net loss		$	(11.30)		$	(0.42)		$	(11.60)		$	(0.70)

Diluted loss per common share:
Loss from continuing operations, net of tax		$	(1.09)		$	(0.09)		$	(1.14)		$	(0.26)
Loss from discontinued operations, net of tax			(10.21)			(0.33)			(10.46)			(0.44)
Net loss		$	(11.30)		$	(0.42)		$	(11.60)		$	(0.70)

Share-based awards for the three and six months ended June 30, 2025 of approximately 2.5 million and 2.2 million and 1.6 million shares for the three and six months ended June 30, 2024 were excluded from the calculation of diluted loss per common share as the effect would be anti-dilutive.