v3.26.1
Earnings (Loss) Per Common Share
6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings (Loss) Per Common Share
Note 14—Earnings (Loss) Per Common Share

Basic and diluted earnings (loss) per common share are computed by dividing net income by the weighted-average number of basic and diluted common shares outstanding, respectively. The weighted-average number of diluted common shares includes the impact of dilutive securities, including outstanding stock options, and unvested stock options. The table below reconciles the weighted-average basic and diluted common shares outstanding:


Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in thousands, except for per share amounts)
Numerator for basic and diluted earnings (loss) per share:
Net income (loss)$22,696 $(32,366)$48,756 $(15,138)
Denominator
Weighted average number of common shares outstanding - basic68,758 73,161 69,311 73,414 
Effect of dilutive securities1
1,147 — 1,168 — 
Weighted average number of common shares outstanding - diluted69,905 73,161 70,479 73,414 
Basic earnings (loss) per share:$0.33 $(0.44)$0.70 $(0.21)
Diluted earnings (loss) per share:$0.32 $(0.44)$0.69 $(0.21)
1.Certain outstanding equity awards are anti-dilutive and therefore excluded from the calculation of the weighted average number of diluted common shares outstanding.

Anti-dilutive outstanding equity awards under share-based compensation plans were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in thousands)
Anti-dilutive equity awards1,091 2,704 1,163 3,111