The following table sets forth the computation of basic and diluted net income (loss) per common share for the periods indicated (in thousands, except for common share and per common share data):


	THREE MONTHS ENDED MARCH 31
	2026		2025
Numerator:
Net income (loss)	$	1,717	$	(7,687	)
Denominator:
Weighted-average common shares outstanding, basic		95,983,233		69,523,369
Add share issuable upon exercise or vesting of dilutive stock options, RSAs or RSUs		10		—
Weighted-average common shares outstanding, diluted		95,983,243		69,523,369
Net income (loss) per share attributable to common stockholders:
Basic	$	0.02	$	(0.11	)
Diluted	$	0.02	$	(0.11	)

As of March 31, 2026, potentially dilutive securities associated with approximately 3.2 million stock options and 1.0 million RSUs were excluded from the computation of diluted loss per common share because including them would have had an anti-dilutive effect.

As of March 31, 2025, Common Stock associated with potentially dilutive securities associated with 12.3 million Incentive Units, were excluded from the computation of diluted net loss per common share because including them would have had an anti-dilutive effect.

For the purposes of determining the basic and diluted weighted-average number of common shares outstanding as of March 31, 2025, the Company retrospectively reflected the Equity Reorganization that occurred (See Note 1) in connection with the IPO. As such, the basic and diluted weighted average number of common shares outstanding for those periods reflect the contribution by the Company of shares of Common Stock to Holdings LLC on a 1 share of Common Stock to 9 units of Holdings LLC ratio, assuming that all such shares of Common Stock were issued and outstanding as of the beginning of the earliest period presented.