v3.25.2
Earnings Per Common Share
6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Common Share

12. Earnings per Common Share

The following tables summarize the components of the basic and diluted EPS computations (in thousands, except per share amounts):

 

Three Months
Ended June 30,

 

 

Six Months
Ended June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

EPS – basic:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) (numerator)

 

$

668

 

 

$

(2,014

)

$

13,826

 

 

$

8,616

 

Weighted average common shares (denominator)

 

 

304,954

 

 

 

273,056

 

 

304,222

 

 

 

271,706

 

Net income (loss) per share

 

$

0.00

 

 

$

(0.01

)

$

0.05

 

 

$

0.03

 

EPS – diluted:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) (numerator)

 

$

668

 

 

$

(2,014

)

 

$

13,826

 

 

$

8,616

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares

 

 

304,954

 

 

 

273,056

 

 

 

304,222

 

 

 

271,706

 

Effect of dilutive securities – common shares issuable

 

 

6,530

 

 

 

 

 

8,159

 

 

 

7,652

 

Adjusted weighted average common shares (denominator)

 

 

311,484

 

 

 

273,056

 

 

312,381

 

 

 

279,358

 

Net income (loss) per share

 

$

0.00

 

 

$

(0.01

)

$

0.04

 

 

$

0.03

 

For the three months ended June 30, 2025, diluted net income per share excluded the weighted average effect of 6.3 million shares of common stock underlying RSUs and Market and Performance RSUs, 1.0 million shares of common stock underlying options and PNQs and 7.0 million common shares issuable upon conversion of our senior convertible notes as they were antidilutive.

For the six months ended June 30, 2025, diluted net income per share excluded the weighted average effect of 3.3 million shares of common stock underlying RSUs and Market and Performance RSUs, 0.3 million shares of common stock underlying options and PNQs and 7.0 million common shares issuable upon conversion of our senior convertible notes as they were antidilutive.

For the three months ended June 30, 2024, diluted net income per share excluded the weighted average effect of 16.8 million shares of common stock underlying RSUs and Market and Performance RSUs, 7.9 million shares of common stock underlying options and PNQs and 44.1 million common shares issuable upon conversion of our senior convertible notes as they were antidilutive. Market RSUs issued in 2021, 2022 and 2023 are included at the share delivery of 194%, 178% and 100%, respectively, in accordance with a valuation assessment obtained as of June 30, 2024.

For the six months ended June 30, 2024, diluted net income per share excluded the weighted average effect of 7.8 million shares of common stock underlying RSUs and Market RSUs, 1.9 million shares of common stock underlying options and PNQs and 44.1 million common shares issuable upon conversion of our senior convertible notes as they were antidilutive.