v3.26.1
Earnings (Loss) Per Share
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share Earnings (Loss) Per Share
The following table sets forth the computation of basic and diluted income per share (in thousands, except per share amounts):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Net income
$24,346 $43,262 $26,343 $60,008 
Less: preferred dividends and accretion15,908 14,788 31,445 29,231 
Net income (loss) to common stockholders$8,438 $28,474 $(5,102)$30,777 
Basic:
Weighted average shares153,866 152,584 153,414 152,331 
Income (loss) per share$0.05 $0.19 $(0.03)$0.20 
Diluted:
Effect of restricted stock and performance awards1,819 484 — 627 
Weighted average shares155,685 153,068 153,414 152,958 
Income (loss) per share$0.05 $0.19 $(0.03)$0.20 

Potentially dilutive common shares issuable pursuant to equity-based awards of 349,803 were excluded from the computation of diluted earnings per share for the three months ended June 30, 2026, as their effect would have been anti-dilutive. Since the Company had a net loss to common stockholders for the six months ended June 30, 2026, basic net loss per share to common stockholders is the same as diluted net loss per share to common stockholders, as the inclusion of all potential shares of common stock outstanding would have been anti-dilutive. As such, 6,591,117 shares of common stock equivalents were excluded from the calculation of diluted net loss per share during the six months ended June 30, 2026, as they had an anti-dilutive effect.

In addition, there were no potentially dilutive common shares issuable pursuant to the Convertible Notes for both the three and six months ended June 30, 2026 and 2025, as the average market price of the Company’s common stock did not exceed the applicable conversion price during those periods.