(Loss) Earnings Per Share

12 Months Ended

Dec. 31, 2025

The following table sets forth the computation of basic and diluted net (loss) income per share of common stock for the

years ended December 31, 2025 and 2024:


(in thousands, except per share amounts)	2025	2024
Basic net (loss) income per share:
Numerator
Net (loss) income, basic and diluted	$(11,353)	$112,958
Denominator
Weighted-average number of shares used in per share computation - Class A	9,515	5,371
Weighted-average number of shares used in per share computation - Class B	19,492	20,925
Basic net (loss) income per share - Class A	$(0.39)	$4.30
Basic net (loss) income per share - Class B	$(0.39)	$4.30
Diluted net (loss) income per share:
Denominator
Weighted-average number of shares used in diluted computation - Class A	9,515	9,051
Weighted-average number of shares used in diluted computation - Class B	19,492	23,012
Diluted net (loss) income per share - Class A	$(0.39)	$3.52
Diluted net (loss) income per share - Class B	$(0.39)	$3.52

Diluted (loss) earnings per share includes the dilutive effect of common stock equivalents and is computed using the

weighted-average number of common stock and common stock equivalents outstanding during the reporting period.

Diluted (loss) earnings per share for the year ended December 31, 2025 excluded common stock equivalents because the

effect of their inclusion would be anti-dilutive or would decrease the reported loss per share.

The following table sets forth securities outstanding that could potentially dilute the calculation of diluted earnings per


(In thousands)	December 31, 2025
RSUs outstanding	2,543
Stock options outstanding	545
Warrants	100
Number of anti-dilutive shares	3,188