| Schedule of Earnings Per Share, Basic and Diluted |
The following table summarizes the basic and diluted earnings per share calculations for the three and six months ended June 30, 2025 and 2024:
| | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended
June 30, | | Six months ended
June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | | | | | | | | | | | | | in thousands (except per share amounts) | | Basic Earnings per Share | | | | | | | | | | | Net income available to Class A Common Stockholders | $ | 8,465 | | | $ | 7,912 | | | $ | 14,505 | | | $ | 4,955 | | | | | Weighted-average shares of Class A Common Stock outstanding | 90,698 | | | 85,687 | | | 90,374 | | | 85,171 | | | | | Basic earnings per share | $ | 0.09 | | | $ | 0.09 | | | $ | 0.16 | | | $ | 0.06 | | | | | | | | | | | | | | | Diluted Earnings per Share | | | | | | | | | | | Net income available to Class A Common Stockholders | $ | 8,465 | | | $ | 7,912 | | | $ | 14,574 | | | $ | 5,007 | | | | | Weighted-average shares of Class A Common Stock outstanding | 90,698 | | | 85,687 | | | 91,247 | | | 86,072 | | | | | Diluted earnings per share | $ | 0.09 | | | $ | 0.09 | | | $ | 0.16 | | | $ | 0.06 | | | | | | | | | | | | | | | Net income available to Class A Common Stockholders | | | | | | | | | | | Net income | $ | 47,202 | | | $ | 42,657 | | | $ | 74,495 | | | $ | 50,856 | | | | | Net income attributable to non-controlling interest | (36,229) | | | (32,279) | | | (55,151) | | | (41,829) | | | | | | | | | | | | | | | Accretion of Series A Convertible Preferred Stock | (1,875) | | | (1,839) | | | (3,750) | | | (3,677) | | | | | Undistributed earnings allocated to Series A Convertible Preferred Stock | (633) | | | (627) | | | (1,089) | | | (395) | | | | | Net income available to Class A Common Stockholders, Basic | 8,465 | | | 7,912 | | | 14,505 | | | 4,955 | | | | | Undistributed earnings allocated to Series A Convertible Preferred Stock | — | | | — | | | — | | | — | | | | | Adjustment for potentially dilutive THG units | — | | | — | | | — | | | — | | | | | Adjustment for potentially dilutive Series A Convertible Preferred Stock | — | | | — | | | — | | | — | | | | | Adjustment for potentially dilutive share-based compensation awards | — | | | — | | | 69 | | | 52 | | | | | Adjustment for potentially dilutive warrants | — | | | — | | | — | | | — | | | | | Net income available to Class A Common Stockholders, Diluted | $ | 8,465 | | | $ | 7,912 | | | $ | 14,574 | | | $ | 5,007 | | | | | | | | | | | | | | | Weighted Average Shares of Class A Common Stock Outstanding | | | | | | | | | | | Weighted average shares of Class A Common Stock outstanding, Basic | 90,698 | | | 85,687 | | | 90,374 | | | 85,171 | | | | | Adjustment for potentially dilutive THG units | — | | | — | | | — | | | — | | | | | Adjustment for potentially dilutive Series A Convertible Preferred Stock | — | | | — | | | — | | | — | | | | | Adjustment for potentially dilutive share-based compensation awards | — | | | — | | | 873 | | | 901 | | | | | Adjustment for potentially dilutive warrants | — | | | — | | | — | | | — | | | | | Weighted average shares of Class A Common Stock outstanding, Diluted | 90,698 | | | 85,687 | | | 91,247 | | | 86,072 | | | |
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| Schedule of the Weighted Average Excluded from Diluted Earnings |
The following table summarizes the weighted average potential shares of Class A Common Stock excluded from diluted earnings per share of Class A Common Stock as their effect would be anti-dilutive for the three and six months ended June 30, 2025 and 2024:
| | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended
June 30, | | Six months ended
June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | | | | | | | | | | | | | in thousands | THG units | 255,105 | | | 255,384 | | | 255,138 | | | 255,441 | | | | | Series A Convertible Preferred Stock | 6,785 | | | 6,785 | | | 6,785 | | | 6,785 | | | | | Unvested shares associated with share-based compensation awards | 8,580 | | | 7,943 | | | 4,453 | | | 3,855 | | | | | Warrants | — | | | 19,484 | | | — | | | 19,484 | | | | | Total | 270,470 | | | 289,596 | | | 266,376 | | | 285,565 | | | |
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