v3.26.1
Earnings (Loss) Per Share (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Dilutive Earnings (Loss) Per Share
The following table sets forth the computation of basic and dilutive earnings (loss) per share for the:
Three Months ended
March 31,
(In thousands, except share and per share data)20262025
Basic and Diluted Shares
Numerator:
Net income$7,349 $9,939 
Less: accretion adjustment to redeemable preferred stock (1)
— (3,381)
Less: allocation to participating preferred stock— (2,030)
Net income available to common stockholders (2)
$7,349 $4,528 
Denominator:
Weighted average Common Stock outstanding – Basic
Class A Common Stock94,805,994 93,350,000
Class B Common Stock43,435,000 — 
Weighted average Common Stock outstanding – Basic138,240,994 93,350,000
Basic earnings per share - Class A Class B Common Stock$0.05 $0.05 
Weighted average Common Stock outstanding Class A Class B Common Stock – Basic138,240,994 93,350,000 
Dilutive shares from stock options6,491,748 — 
Dilutive shares from RSUs1,023,303 — 
Total weighted average Class A and Class B Common Stock outstanding – Diluted145,756,044 93,350,000 
Diluted earnings per share - Class A and Class B Common Stock$0.05 $0.05 
Schedule of Potential Antidilutive Securities Excluded from the Computation of Diluted Earnings (Loss) Per Share
The potential shares of common stock that were excluded from the computation of diluted earnings (loss) per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive are as follows:
Three Months ended
March 31,
20262025
Time Vesting Options (3)
— 5,789,000 
Performance Vesting Options (4)
— 5,789,000 
Restricted Stock Units(5)
21,810 — 
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(1)Represents the accretion of the redeemable preferred stock to its redemption value and includes both the effect of cumulative undeclared dividends and the accretion of issuance costs for the applicable periods.
(2)Net income (loss) available to common stockholders for the three months ended March 31, 2025, included $530 of IPO transaction costs that were reimbursed to the Company by the selling stockholders on October 2, 2025.
(3)The Time Vesting Options were excluded from the calculation of diluted earnings per share for the three months ended March 31, 2025, as their inclusion would have been anti-dilutive.
(4)Performance Vesting Options have a performance condition. For the three months ended March 31, 2025, the performance condition was not met and therefore, these options were excluded from the dilutive earnings per share computation.
(5)The Restricted Stock Units were excluded from the calculation of diluted earnings per share for the three months ended March 31, 2026, as their inclusion would have been anti-dilutive.