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(Loss) Earnings per Share | 6 Months Ended
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Jun. 30, 2026
Earnings Per Share [Abstract] |
(Loss) Earnings per Share | Loss per Share All share and per share data in the table and discussion below have been retroactively adjusted for all periods presented to reflect the 1-for-10 reverse stock split which became effective on August 29, 2025. The following table presents a reconciliation of the numerator and denominator of basic and diluted loss per share for the three and six months ended June 30, 2026 and 2025, respectively:
| Three Months Ended June 30, |  | Six Months Ended June 30, |  |  |  |
(Dollars in thousands, except per share amounts) | 2026 |  | 2025 |  | 2026 |  | 2025 |  |  |  |
Numerator for basic and diluted loss per share: |  |  |  |  |  |  |  |  |  |  |
Net loss | $ | (40,471) |  |  | $ | (86,886) |  |  | $ | (83,748) |  |  | $ | (126,237) |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding for basic calculation | 26,254,657 |  |  | 25,918,456 |  |  | 26,173,246 |  |  | 25,878,066 |  |  |  |  |
Weighted average common shares outstanding for diluted calculation | 26,254,657 |  |  | 25,918,456 |  |  | 26,173,246 |  |  | 25,878,066 |  |  |  |  |
Basic loss per share | $ | (1.54) |  |  | $ | (3.35) |  |  | $ | (3.20) |  |  | $ | (4.88) |  |  |  |  |
Diluted loss per share | $ | (1.54) |  |  | $ | (3.35) |  |  | $ | (3.20) |  |  | $ | (4.88) |  |  |  |  |
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 and six months ended June 30, 2026 excludes the dilutive effect of approximately 7,303 shares and 13,557 shares, respectively, and 28,965 shares and 28,162 shares for the three and six months ended June 30, 2025, respectively, primarily related to restricted stock units (“RSUs”), as their inclusion would have been anti-dilutive due to the Company’s net loss. Additionally, the weighted average common shares outstanding for the diluted loss per share calculation excludes consideration of 435,402 and 485,447 equivalent shares for the three and six months ended June 30, 2026, respectively, and 744,025 and 670,465 equivalent shares for the three and six months ended June 30, 2025, respectively, as their effect would have been anti-dilutive.

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