v3.25.2
Net Loss Per Share (Tables)
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Loss Per Share Computation
The following is a summary of the basic and diluted net loss per share computation for the periods presented and has been retroactively adjusted to reflect the stock dividends and the Reverse Stock Split (see Note 1 — Organization and Note 8 — Stockholders’ Equity for additional details):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Net loss attributable to common stockholders (in thousands)
$(24,189)$(119,916)$(29,208)$(138,916)
Basic and diluted weighted-average shares outstanding
28,296,439 28,296,438 28,296,439 28,291,789 
Basic and diluted net loss per share
$(0.85)$(4.24)$(1.03)$(4.91)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share The amounts in the table below have been retroactively adjusted to reflect the stock dividends and the Reverse Stock Split (see Note 1 — Organization for additional details):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Unvested restricted shares (1)
2,930 13,107 1,473 13,105 
Common OP Units (2)
124,161 124,161 124,161 124,161 
Class B Units (3)
109,865 109,865 109,865 109,865 
Total weighted average antidilutive common stock equivalents
236,956 247,133 235,499 247,131 
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(1)Weighted average number of antidilutive unvested restricted shares outstanding for the periods presented. There were 219,339 and 52,428 unvested restricted shares outstanding as of June 30, 2025 and 2024, respectively.
(2)Weighted average number of antidilutive Common OP Units presented as shares outstanding for the periods presented, at the current redemption rate reflecting adjustments for the effect of the stock dividends and the Reverse Stock Split (see Note 1 — Organization for additional details). There were 405,998 Common OP Units outstanding as of June 30, 2025 and 2024. The securities held by the Company are eliminated in consolidation.
(3)Weighted average number of antidilutive Class B Units presented as shares outstanding for the periods presented, at the current redemption rate reflecting adjustments for the effect of the stock dividends and the Reverse Stock Split (see Note 1 — Organization for additional details). There were 359,250 Class B Units outstanding as of June 30, 2025 and 2024. These Class B Units were unvested as of June 30, 2025 and 2024 (see Note 9 — Related Party Transactions and Arrangements for additional information).