EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2026

4. EARNINGS PER SHARE

Basic and diluted earnings per share (“EPS”) attributable to common stockholders is presented in conformity with the two-class method required for participating securities: Class A, Class B, Class C and Class D common stock. The rights of the holders of Class A, Class B, Class C and Class D common stock are identical, except with respect to voting, conversion, and transfer rights.

The undistributed earnings or losses are allocated based on the contractual participation rights of Class A, Class B, Class C and Class D common shares as if the earnings or losses for the year have been distributed. As the liquidation and dividend rights are identical, the undistributed earnings or losses are allocated on a proportionate basis, and as such, diluted and basic earnings per share is the same for each class of common stock under the two-class method. As noted above, all per share information has been adjusted to reflect the Reverse Stock Split.

The following table sets forth the calculation of basic and diluted earnings per share from continuing operations:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(In thousands, except per share data)				(In thousands, except per share data)
Numerator:
Net loss attributable to Class A, Class B, Class C and Class D stockholders	$	(7,073)	$	(77,902)	$	(10,152)	$	(89,644)
Denominator (1):
Denominator for basic net loss per share - weighted average outstanding shares	4,470,542		4,473,831		4,460,275		4,476,828


Denominator for diluted net loss per share - weighted-average outstanding shares	4,470,542		4,473,831		4,460,275		4,476,828

Net loss attributable to Class A, Class B, Class C and Class D stockholders per share – basic (1)	$	(1.58)	$	(17.41)	$	(2.28)	$	(20.02)
Net loss attributable to Class A, Class B, Class C and Class D stockholders per share – diluted (1)	$	(1.58)	$	(17.41)	$	(2.28)	$	(20.02)

(1) Adjusted retroactively for the Reverse Stock Split, refer to Note 2 - Summary of Significant Accounting Policies

For the three and six months ended June 30, 2026, there were approximately 0.6 million potentially dilutive securities that were not included in the computation of diluted EPS, because to do so would have been antidilutive for the periods presented. For three and six months ended June 30, 2025, there were approximately 0.6 million potentially dilutive securities that were not included in the computation of diluted EPS.