Three months ended
March 31,

(In thousands, except share and per share data)

2026

2025

Numerator:

Net income (loss) from continuing operations

$

19,922

$

(3,274

)

Net income from discontinued operations

—

1,648

Minus: net income allocated to participating warrants

(16,641

)

—

Numerator for basic EPS - Net income (loss) available for common shareholders

$

3,281

$

(1,626

)

Effect of dilutive securities

Interest expense on Convertible Notes - from continuing operations

$

1,480

$

—

Reallocation of net income to participating warrants

2,214

—

Numerator for diluted EPS - Net income (loss) available for common shareholders

$

6,975

$

(1,626

)

Denominator:

Denominator for basic EPS - Weighted-average common shares outstanding

2,149,128

1,952,022

Effect of dilutive securities

Unvested restricted stock units

126,750

—

Conversion of Convertible Notes

2,971,433

—

Denominator for diluted EPS - adjusted weighted-average common stock outstanding

5,247,311

1,952,022

Basic net income (loss) per share attributable to common shareholders

$

1.53

$

(0.83

)

Diluted net income (loss) per share attributable to common shareholders

$

1.33

$

(0.83

)