Earnings per Share

3 Months Ended

Mar. 31, 2026

8. Earnings per Share

The holders of the Company’s Class A and Class B common stock (together, “common stock”) have identical liquidation and dividend rights but different voting rights. Accordingly, the Company presents the earnings per share (“EPS”) for Class A and Class B common stock together.

The following table sets forth the computation of basic and diluted net income per share of common stock:


	For the Three Months Ended March 31,
	2026		2025
	(in thousands)
Net income	$	8,082	$	4,533
Weighted average common shares outstanding — Basic and Diluted		41,104		35,000
Net income per share — Basic and Diluted	$	0.20	$	0.13

The following potential shares of common stock have been excluded from the computation of diluted net income per share because their effect would have been antidilutive:


	As of March 31,
	2026		2025
	(in thousands)
APC PSUs		85		—