Basic (loss) earnings per share represents income available to common or ordinary shareholders divided by the weighted average number of Common Stock or Ordinary Shares outstanding during the reported period. Diluted (loss) earnings per share is based upon the weighted-average number of shares outstanding during the period plus additional weighted-average potentially dilutive share equivalents during the period when the effect is dilutive.

Basic and diluted weighted average shares outstanding and (loss) earnings per share were as follows (in thousands, except share and per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Net (loss) income	$	(32,161)	$	21,650	$	24,525	$	(60,908)

Weighted-average shares outstanding:
Weighted average shares used in computing (loss) earnings per share, basic	147,055,804		145,236,526		147,779,470		145,279,938
PBNQSO	—		—		1,188,480		—
Founders advisory fees	—		9,428,244		7,071,183		—
Weighted average shares used in computing (loss) earnings per share, diluted	147,055,804		154,664,770		156,039,133		145,279,938

Basic (loss) earnings per share	$	(0.22)	$	0.15	$	0.17	$	(0.42)

Diluted (loss) earnings per share	$	(0.22)	$	0.14	$	0.16	$	(0.42)


	Three Months Ended June 30,		Six Months Ended June 30,
	2025	2024	2025	2024
PBNQSO	1,511,730	245,004	235,000	245,004
Founders advisory fees	7,071,183	—	—	9,428,244
Warrants	—	8,460,860	—	8,460,860
Total	8,582,913	8,705,864	235,000	18,134,108