| Schedule computation of basic and diluted EPS |
The computation of basic and diluted earnings per share (“EPS”) is shown on the following page: | | | | | | | | | | | | | (In thousands, except per share amounts) | | Three months ended June 30, | | Six months ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | Earnings attribution | | | | | | | | | | | | | Class A common stock | | $ | (13,980) | | $ | (12,804) | | $ | (30,641) | | $ | (21,046) | Class A restricted stock awards | | | — | | | 1 | | | — | | | 102 | Class B common stock | | | (1,436) | | | (1,175) | | | (3,096) | | | (3,134) | Class B restricted stock awards | | | — | | | 4 | | | — | | | 9 | Forfeitable dividends declared on unvested stock-based awards | | | 1 | | | — | | | 3 | | | 638 | Net loss | | $ | (15,415) | | $ | (13,974) | | $ | (33,734) | | $ | (23,431) |
| | | | | | | | | | | | | | | Three months ended June 30, 2026 | | Three months ended June 30, 2025 | | | Class A | | Class B | | Class A | | Class B | Dual class EPS calculations | | | | | | | | | | | | | Numerator | | | | | | | | | | | | | Net earnings (loss) for basic and diluted earnings per common share | | $ | (13,980) | | $ | (1,436) | | $ | (12,804) | | $ | (1,175) | Add: Class B net diluted earnings per diluted share | | | — | | | — | | | — | | | — | Net diluted earnings (loss) per diluted share | | $ | (13,980) | | $ | (1,436) | | $ | (12,804) | | $ | (1,175) | Denominator | | | | | | | | | | | | | Weighted average shares used to compute basic earnings per share | | | 53,210 | | | 11,378 | | | 43,850 | | | 9,710 | Dilutive effect of conversion of Class B common stock to Class A common stock | | | — | | | — | | | — | | | — | Weighted average shares used to compute diluted earnings per share | | $ | 53,210 | | $ | 11,378 | | $ | 43,850 | | $ | 9,710 | | | | | | | | | | | | | | Earnings (loss) per common share | | | | | | | | | | | | | Basic | | $ | (0.26) | | $ | (0.13) | | $ | (0.29) | | $ | (0.12) | Diluted | | $ | (0.26) | | $ | (0.13) | | $ | (0.29) | | $ | (0.12) |
| | | | | | | | | | | | | | | Six months ended June 30, 2026 | | Six months ended June 30, 2025 | | | Class A | | Class B | | Class A | | Class B | Dual class EPS calculations | | | | | | | | | | | | | Numerator | | | | | | | | | | | | | Net earnings (loss) for basic and diluted earnings per common share | | $ | (30,641) | | $ | (3,096) | | $ | (21,046) | | $ | (3,134) | Add: Class B net diluted earnings per diluted share | | | — | | | — | | | — | | | — | Net diluted earnings (loss) per diluted share | | $ | (30,641) | | $ | (3,096) | | $ | (21,046) | | $ | (3,134) | Denominator | | | | | | | | | | | | | Weighted average shares used to compute basic earnings per share | | | 54,510 | | | 11,257 | | | 43,878 | | | 10,030 | Dilutive effect of conversion of Class B common stock to Class A common stock | | | — | | | — | | | — | | | — | Weighted average shares used to compute diluted earnings per share | | $ | 54,510 | | $ | 11,257 | | $ | 43,878 | | $ | 10,030 | | | | | | | | | | | | | | Earnings (loss) per common share | | | | | | | | | | | | | Basic | | $ | (0.56) | | $ | (0.28) | | $ | (0.48) | | $ | (0.31) | Diluted | | $ | (0.56) | | $ | (0.28) | | $ | (0.48) | | $ | (0.31) |
|
| Schedule of antidilutive shares excluded from the dilutive EPS calculation |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, 2026 | | Three months ended June 30, 2025 | | | Six months ended June 30, 2026 | | Six months ended June 30, 2025 | | | | Class A | Class B | | Class A | Class B | | | Class A | Class B | | Class A | Class B | | Antidilutive options | | 50,000 | 12,761 | | 648,712 | 138,697 | | | 50,000 | 12,761 | | 648,712 | 138,697 | | Antidilutive RSUs | | 967,440 | 14,465 | | 1,112,622 | 36,943 | | | 977,588 | 14,380 | | 889,200 | 36,943 | | Antidilutive PSUs (at target) | | 1,527,090 | 40,132 | | 3,007,897 | 228,738 | | | 1,429,205 | 37,090 | | 2,288,112 | 228,738 | | Antidilutive convertible senior notes | | 10,538,370 | — | | — | — | | | 10,538,370 | — | | — | — | |
|