| Summary of Computation of Basic and Diluted Net Income (Loss) Per Share |
The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Successor |
|
|
|
Predecessor |
|
|
|
Three months ended March 31, |
|
|
Period from January 15 through March 31, |
|
|
|
Period from January 1 through January 14, |
|
(in thousands, except share and per share amounts) |
|
2026 |
|
|
2025 |
|
|
|
2025 |
|
Net (loss) income from continuing operations |
|
$ |
(19,046 |
) |
|
$ |
(6,450 |
) |
|
|
$ |
45,090 |
|
Net income (loss) from discontinued operations |
|
$ |
(12 |
) |
|
$ |
99 |
|
|
|
$ |
(4 |
) |
Net (loss) income |
|
$ |
(19,058 |
) |
|
$ |
(6,351 |
) |
|
|
$ |
45,086 |
|
Preferred stock dividends attributable to noncontrolling interests of subsidiary |
|
$ |
(571 |
) |
|
$ |
— |
|
|
|
$ |
— |
|
Net (loss) income attributable to controlling interest and common shareholders |
|
$ |
(19,629 |
) |
|
$ |
(6,351 |
) |
|
|
$ |
45,086 |
|
Net (loss) income per share attributable to common stockholders, basic: |
|
|
|
|
|
|
|
|
|
|
Continuing operations |
|
|
(3.77 |
) |
|
|
(1.25 |
) |
|
|
|
24.74 |
|
Discontinued operations |
|
|
— |
|
|
|
0.02 |
|
|
|
|
(0.00 |
) |
Basic |
|
$ |
(3.77 |
) |
|
$ |
(1.23 |
) |
|
|
$ |
24.74 |
|
Net (loss) income per share attributable to common stockholders, diluted: |
|
|
|
|
|
|
|
|
|
|
Continuing operations |
|
|
(3.77 |
) |
|
|
(1.25 |
) |
|
|
|
23.89 |
|
Discontinued operations |
|
|
— |
|
|
|
0.02 |
|
|
|
|
(0.00 |
) |
Diluted |
|
$ |
(3.77 |
) |
|
$ |
(1.23 |
) |
|
|
$ |
23.89 |
|
Weighted-average number of shares outstanding used to compute net (loss) income per share attributable to common stockholders: |
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
5,201,905 |
|
|
|
5,163,109 |
|
|
|
|
1,822,541 |
|
Diluted |
|
|
5,201,905 |
|
|
|
5,163,109 |
|
|
|
|
1,887,370 |
|
|
| Summary of Calculation of Diluted Shares Outstanding |
The following potentially dilutive shares were not included in the calculation of diluted shares outstanding for the periods presented as the effect would have been anti-dilutive:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Successor |
|
|
|
Predecessor |
|
|
|
As of March 31, |
|
|
|
As of January 14, |
|
|
|
2026 |
|
|
2025 |
|
|
|
2025 |
|
Convertible notes |
|
|
285,714 |
|
|
|
— |
|
|
|
|
— |
|
Stock options |
|
|
328,233 |
|
|
|
328,960 |
|
|
|
|
23,214 |
|
Restricted stock units |
|
|
689,812 |
|
|
|
703,549 |
|
|
|
|
131,422 |
|
Total |
|
|
1,303,759 |
|
|
|
1,032,509 |
|
|
|
|
154,636 |
|
|
| Summary of Reconciliation From Basic to Diluted Weighted-average Number of Shares Outstanding Used to Compute Net (Loss) Income Per Share |
The following table sets forth a reconciliation from basic to diluted weighted-average number of shares outstanding used to compute net (loss) income per share attributable to common stockholders:
|
|
|
|
|
|
|
Predecessor |
|
|
|
Period from January 1 through January 14, |
|
|
|
2025 |
|
Weighted-average number of shares outstanding used to compute net (loss) income per share attributable to common stockholders: |
|
|
|
Basic |
|
|
1,822,541 |
|
Convertible 2026 Notes |
|
|
64,829 |
|
Diluted |
|
|
1,887,370 |
|
|