Net Loss Per Share

3 Months Ended

Mar. 31, 2026

Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per share is computed by dividing net loss by the total of the weighted average number of shares of common stock outstanding during the applicable period, plus the effect of non-vested performance shares and restricted stock units. Our potentially dilutive securities have been excluded from the computation of diluted net loss per share as the effect would reduce the net loss per share and is considered antidilutive. Basic and diluted net loss per share are calculated as follows, based on a reconciliation of the weighted-average common shares outstanding on a basic and diluted basis:


	Three Months Ended
	March 31,
	2026		2025
	(In thousands, except per share amounts)
Net loss	$	(79,176)	$	(68,710)
Weighted average common shares outstanding - basic	56,710		56,626
Effect of dilutive performance shares and restricted stock units	—		—
Weighted average common shares outstanding - diluted	56,710		56,626
Shares excluded from the calculation of diluted loss per share	173		274
Net loss per share-basic	$	(1.40)	$	(1.21)
Net loss per share-diluted	$	(1.40)	$	(1.21)