The number of shares have been restated to reflect the Reverse Stock Split effectuated on May 14, 2026. All historical share and per share amounts reflected in the condensed consolidated financial statements for the three months ended March 31, 2026 have been retrospectively restated to reflect the change in capital structure for the periods prior to the completion of the Reverse Stock Split, as applicable. See Note 2 – Significant Accounting Policies for details.


(Dollars and shares in thousands, except per share amounts)	Three months ended March 31,
	2026		2025
Numerator:
Net loss attributable to common shares	$	(35,264)	$	(9,146)
Denominator:
Weighted-average common shares	9,467		8,961
Net loss per share – basic and diluted	$	(3.72)	$	(1.02)

The following potentially dilutive instruments, based on amounts outstanding and restated to reflect the Reverse Stock Split, that could result in dilution, were excluded from the diluted earnings per share computation because including them would have had an anti-dilutive effect:


(Shares in thousands)	Three months ended March 31,
	2026	2025
Preferred shares	201,429	160,756
Option-based awards	32,384	12,395
Warrants	2,554	—
Total	236,367	173,151