Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2026

The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted earnings per share for the three months ended March 31, 2026, and 2025:


	Three Months Ended
	March 31,
(in thousands, except share data)		2026		2025
Numerator:
Net (loss) income attributable to common stockholders		$	(6,027)	$	(10,615)
Dividends allocated to participating restricted stock units		(163)		(188)
Net (loss) income attributable to common stockholders - basic and diluted		$	(6,190)	$	(10,803)




Denominator:







Average common shares outstanding - basic and diluted		47,673,711		48,668,667
(Loss) earnings per share:
Basic		$	(0.13)	$	(0.22)
Diluted		$	(0.13)	$	(0.22)

Diluted earnings per share is calculated under both the two-class method and treasury stock method, and the more dilutive amount is reported. The computation of diluted earnings per share is also based on the incremental shares that would be outstanding assuming the settlement of RSUs. During the three months ended March 31, 2026, and 2025, 1,146,634 and 1,069,355 weighted-average unvested RSUs, respectively, were excluded from the dilutive earnings per share denominator, as their inclusion would be antidilutive. For the three months ended March 31, 2026, and 2025, under both the two-class method and the treasury stock method, no shares were included in the dilutive earnings per share denominator, as their inclusion would have been antidilutive.