v3.26.1
NET INCOME (LOSS) PER SHARE
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER SHARE NET INCOME (LOSS) PER SHARE
 
Net income (loss) per share is calculated in accordance with ASC 260, Earnings Per Share. Basic income (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period.

The following table presents the total potential securities that were not included in the computation of diluted income (loss) per share, as their inclusion would have been anti-dilutive:

Three Months Ended June 30,
Six Months Ended June 30,
2026202520262025
Warrants— 324,375 — 324,375 
Restricted stock units12,385,624 — 12,385,624 — 
Performance-based restricted stock units (1)
20,950,294 — 20,950,294 — 
Convertible Notes (2)
49,355,929 — 49,355,929 — 
Total anti-dilutive shares82,691,847 324,375 82,691,847 324,375 

(1) Anti-dilutive performance-based restricted stock units are presented up to 249% as the maximum potential number of shares that may vest. Refer to Note 12 – Stock-based Compensation, for further information.

(2) Refer to Note 13 – Debt, for further information.
The following table sets forth the computation of basic and diluted income (loss) per share:

Three Months Ended June 30,
Six Months Ended June 30,
(in thousands, except share and per share data)2026202520262025
Basic earnings per share of common stock:
Net income (loss) attributable to common stockholders - basic
$(609,685)$808,235 $(1,869,304)$275,036 
Weighted average shares of common stock - basic381,565,856 352,901,683 380,865,345 348,524,166 
Net income (loss) per share of common stock - basic
$(1.60)$2.29 $(4.91)$0.79 
Diluted earnings per share of common stock:
Net income (loss) attributable to common stockholders - basic
$(609,685)$808,235 $(1,869,304)$275,036 
Add: Notes interest expense, net of tax— 2,836 — 5,671 
Net income (loss) attributable to common stockholders - diluted
$(609,685)$811,071 $(1,869,304)$280,707 
Weighted average shares of common stock - basic
381,565,856 352,901,683 380,865,345 348,524,166 
Restricted stock units— 3,896,469 — 4,094,789 
Performance-based restricted stock units— 2,007,055 — 1,545,898 
Convertible Notes
— 82,106,952 — 82,106,952 
Weighted average shares of common stock - diluted
381,565,856 440,912,159 380,865,345 436,271,805 
Net income (loss) per share of common stock - diluted
$(1.60)$1.84 $(4.91)$0.64