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(Loss) Earnings per Share | 3 Months Ended
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Mar. 31, 2025
Earnings Per Share [Abstract] |
(Loss) Earnings per Share | Loss per Share We did not repurchase any shares of our common stock during the first quarter of 2025 or 2024. The following table presents a reconciliation of the numerator and denominator of basic and diluted loss per share for the three and nine months ended March 31, 2025 and 2024:
|  |  | Three Months Ended March 31, |  |  |  |
|  |  |  |  | 2025 |  | 2024 |  |  |  |
|  |  |  |  | (Dollars in thousands, except per share amounts) |  |  |  |
Numerator for basic and diluted loss per share: |  |  |  |  |  |  |  |  |  |  |
Net loss |  |  |  |  | $ | (39,351) |  |  | $ | (30,869) |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding for basic calculation |  |  |  |  | 258,369,101 |  |  | 257,399,365 |  |  |  |  |
Weighted average common shares outstanding for diluted calculation |  |  |  |  | 258,369,101 |  |  | 257,399,365 |  |  |  |  |
Basic loss per share |  |  |  |  | $ | (0.15) |  |  | $ | (0.12) |  |  |  |  |
Diluted loss per share |  |  |  |  | $ | (0.15) |  |  | $ | (0.12) |  |  |  |  |
Basic loss per share is calculated by dividing net loss by the weighted average number of common shares outstanding. Diluted loss per share is calculated by dividing net loss by the sum of the weighted average number of common shares outstanding plus the additional common shares that would have been outstanding if potentially dilutive securities had been issued. The weighted average common shares outstanding for the diluted loss per share calculation for the three months ended March 31, 2025 excludes the dilutive effect of approximately 311,067 shares primarily related to restricted stock units (“RSUs”), as their inclusion would have been anti-dilutive due to the Company’s net loss. For the three months ended March 31, 2024, no shares were excluded because no shares were anti-dilutive solely due to the Company’s net loss. Additionally, the weighted average common shares outstanding for the diluted loss per share calculation excludes consideration of 4,650,280 and 3,478,359 equivalent shares for the three months ended March 31, 2025 and 2024, respectively, as their effect would have been anti-dilutive.

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