The following is a summary of the net loss per basic and diluted share computation for the periods presented (amounts in thousands, except per share data):


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
Numerator:
Net loss attributable to common stockholders	$	(8,141)	$	(24,189)	$	(15,744)	$	(29,208)
Denominator:
Denominator for basic net loss attributable to common stockholders per share — weighted-average shares	61,597		28,296		45,059		28,296
Effect of dilutive securities:
Unvested restricted shares, LTIP Units and RSUs (1)	144		3		90		1
Common OP Units (2)(3)	234		234		234		234

Denominator for diluted net loss attributable to common stockholders per share — weighted-average shares	61,975		28,533		45,383		28,531
Basic and diluted net loss attributable to common stockholders per share (4)	$	(0.13)	$	(0.85)	$	(0.35)	$	(1.03)

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(1)Weighted average number of unvested restricted shares, LTIP Units and RSUs outstanding for the periods presented. There were 1,413,900 and 219,339 unvested restricted shares, LTIP Units and RSUs outstanding as of June 30, 2026 and 2025, respectively.

(2)Weighted average number of Common OP Units presented as shares outstanding for the periods presented, at the current redemption rate. There were 765,248 Common OP Units outstanding as of both June 30, 2026 and 2025.

(3)As of April 30, 2026, the Company’s Class B Units have been converted to Common OP Units. The comparable prior period numbers have been restated to maintain comparability.

(4)Potential common stock equivalents are disregarded in diluted per share calculations when a net loss exists as the effect would be antidilutive. In this case, the diluted per share denominator is equal to the denominator for basic net loss per share.