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

2. Earnings Per Share

Basic earnings per share is computed using the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed using the weighted average number of common shares outstanding and the treasury stock method for stock-based compensation. Contingently issuable shares are only included in the diluted earnings per share computation once all necessary conditions have been satisfied.

The diluted earnings per share calculations exclude the effect of stock options, deferred stock units, performance stock units, restricted stock units and the potential Earnout Liability related to the acquisition of Satcom Direct when the computation is anti-dilutive. For the three- and six-month periods ended June 30, 2026, the weighted average number of shares excluded from the computation was 69.0 million and 60.5 million, respectively. For the three- and six-month periods ended June 30, 2025, the weighted average number of shares excluded from the computation was 17.2 million and 22.9 million, respectively.

The following table sets forth the computation of basic and diluted earnings per share for the three- and six-month periods ended June 30, 2026 and 2025 (in thousands, except per share amounts):

 

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
 Ended June 30,

 

Basic

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Net income (loss)

 

$

(2,009

)

 

$

12,807

 

 

$

11,076

 

 

$

24,849

 

Weighted average shares outstanding

 

 

136,250

 

 

 

133,647

 

 

 

135,961

 

 

 

132,925

 

Earnings (loss) per share - basic

 

$

(0.01

)

 

$

0.10

 

 

$

0.08

 

 

$

0.19

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
 Ended June 30,

 

Diluted

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Net income (loss)

 

$

(2,009

)

 

$

12,807

 

 

$

11,076

 

 

$

24,849

 

Average shares

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

136,250

 

 

 

133,647

 

 

 

135,961

 

 

 

132,925

 

Effect of dilutive securities - stock-based compensation

 

 

 

 

 

3,250

 

 

 

929

 

 

 

3,046

 

Total weighted average diluted shares outstanding

 

 

136,250

 

 

 

136,897

 

 

 

136,890

 

 

 

135,971

 

Earnings (loss) per share - diluted

 

$

(0.01

)

 

$

0.09

 

 

$

0.08

 

 

$

0.18