v3.26.1
Earnings Per Common Share
6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings Per Common Share

13. Earnings per Common Share

The following tables summarize the components of the basic and diluted EPS computations (in thousands, except per share amounts):

 

Three Months
Ended June 30,

 

 

Six Months
Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

EPS – basic:

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income (numerator)

 

$

(19,032

)

 

$

668

 

$

(35,651

)

 

$

13,826

 

Weighted average common shares (denominator)

 

 

309,191

 

 

 

304,954

 

 

308,732

 

 

 

304,222

 

Net (loss) income per share

 

$

(0.06

)

 

$

0.00

 

$

(0.12

)

 

$

0.05

 

EPS – diluted:

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income (numerator)

 

 

(19,032

)

 

 

668

 

 

 

(35,651

)

 

 

13,826

 

Weighted average common shares

 

 

309,191

 

 

 

304,954

 

 

 

308,732

 

 

 

304,222

 

Effect of dilutive securities – common shares issuable

 

 

 

 

 

6,530

 

 

 

 

 

8,159

 

Adjusted weighted average common shares (denominator)

 

 

309,191

 

 

 

311,484

 

 

308,732

 

 

 

312,381

 

Net (loss) income per share

 

$

(0.06

)

 

$

0.00

 

$

(0.12

)

 

$

0.04

 

For the three months ended June 30, 2026, diluted net loss per share was the same as basic net loss per share because the inclusion of potential common shares would have been antidilutive. Potentially dilutive securities outstanding for the three months ended June 30, 2026 were 20.3 million shares of common stock underlying RSUs and Market RSUs and 11.6 million shares underlying options.

For the six months ended June 30, 2026, diluted net loss per share was the same as basic net loss per share because the inclusion of potential common shares would have been antidilutive. Potentially dilutive securities outstanding for the six months ended June 30, 2026 were 10.3 million shares of common stock underlying RSUs and Market RSUs and 3.1 million shares underlying options.

For the three months ended June 30, 2025, diluted net income per share excluded the weighted average effect of 6.3 million shares of common stock underlying RSUs and Market RSUs, 1.0 million shares underlying options, and 7.0 million common shares issuable upon conversion of our senior convertible notes as they were antidilutive.

For the six months ended June 30, 2025, diluted net income per share excluded the weighted average effect of 3.3 million shares of common stock underlying RSUs and Market RSUs, 0.3 million shares underlying options, and 7.0 million common shares issuable upon conversion of our senior convertible notes as they were antidilutive.