The numerator used in the calculation of both basic and diluted earnings per share is net income (loss). The denominator used in the calculation of basic earnings per share is the weighted-average number of shares outstanding during the period. The denominator used in the calculation of diluted earnings per share is derived by adjusting basic shares outstanding for the dilutive effect of potential shares outstanding, which consist of time- and performance-based stock awards and employee stock purchase plan shares. Basic net loss per share was the same as diluted net loss per share for the three months ended June 30, 2026, as a result of our net loss position for the period.

The following includes the computation of the denominator for basic and diluted weighted-average shares outstanding for the three and six months ended June 30, 2026 and 2025:


	Three Months Ended June 30,		Six Months Ended June 30,
(in thousands)	2026	2025	2026	2025

Weighted-Average Common Shares Outstanding – Basic	41,955	41,874	41,929	41,850
Effect of Dilutive Securities:
Stock Performance Awards	—	154	82	143
Restricted Stock Awards	—	88	87	95
Employee Stock Purchase Plan	—	2	2	2
Dilutive Effect of Potential Common Shares	—	244	171	240
Weighted-Average Common Shares Outstanding – Diluted	41,955	42,118	42,100	42,090

For the three months ended June 30, 2026, 197,007 shares were excluded from the computation of diluted weighted-average common shares outstanding because such shares were anti-dilutive. The number of shares excluded from diluted weighted-average common shares outstanding because such shares were anti-dilutive was not material for the six months ended June 30, 2026, or the three and six months ended June 30, 2025.