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NET INCOME (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2025

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE

9.

NET INCOME (LOSS) PER SHARE

Basic loss per share and diluted loss per share for the three and six months ended June 30, 2025 and 2024 have been computed by dividing the net loss for each respective period by the weighted average number of shares outstanding during that period.

Net income per common share is calculated as basic net income per share and diluted net income per share. Basic net income per share excludes dilution and is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted net income per share is computed in the same manner as basic net income after assuming issuance of common stock for all potentially dilutive equivalent shares, which includes the potential dilution that could occur: (i) if the RSUs with service conditions were fully vested (using the treasury stock method); (ii) if all of the Company’s outstanding stock options that are in-the-money were exercised (using the treasury stock method); (iii) if the RSUs with service and market conditions were considered contingently issuable; and (iv) if the RSUs with service and performance conditions were considered contingently issuable.

The following table summarizes earnings per share calculations:


		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2025			2024			2025			2024

		(amounts, in thousands, except share and per share data)
Basic earnings per common share:
Net income (loss) attributable to common stockholders		$	1,947		$	(4,294)		$	469		$	(10,384)
Basic weighted average common shares outstanding			62,608,598			54,306,041			61,675,447			54,284,416
Basic earnings per common share		$	0.03		$	(0.08)		$	0.01		$	(0.19)

Diluted earnings per common share
Net income (loss) attributable to common stockholders			1,947			(4,294)			469			(10,384)
Basic weighted average common shares outstanding			62,608,598			54,306,041			61,675,447			54,284,416
Effect of dilutive securities			4,557,779			—			4,579,851			—
Diluted weighted average common shares outstanding			67,166,377			54,306,041			66,255,298			54,284,416
Diluted earnings per common share		$	0.03		$	(0.08)		$	0.01		$	(0.19)

Certain stock options and restricted stock units are not included in the diluted earnings per share calculation when the effect would be anti-dilutive. The number of anti-dilutive shares were 10,819,609 and 10,820,859 for the three and six months ended June 30, 2025, respectively.