EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2026

Earnings per share (Note 9):

EARNINGS PER SHARE

9. EARNINGS PER SHARE

The following tables provide a reconciliation of the data used in the calculation of basic and diluted ordinary shares outstanding for the three-month period ended June 30, 2026, the three-month period ended June 30, 2025, the six-month period ended June 30, 2026, and the six-month period ended June 30, 2025, respectively.

Date		Transaction Detail		Change in Shares				Three-month period ended June 30, 2026, Weighted Average Ordinary Shares Outstanding
April 1, 2026		Beginning Balance							100,847,255
April, 10, 2026		Equity-classified Restricted Stock Issuance			3,000				2,671
May 20, 2026		Equity-classified Restricted Stock Issuance			1,499				675
June 30, 2026		Ending Balance							100,850,601

Date		Transaction Detail		Change in Shares				Three-month period ended June 30, 2025, Weighted Average Ordinary Shares Outstanding
April 1, 2025		Beginning Balance							96,352,966
April 22, 2025		Settlement of liability-classified share-based compensation			100,001				75,825
June 30, 2025		Ending Balance							96,428,791

Date		Transaction Detail		Change in Shares				Six-month period ended June 30, 2026, Weighted Average Ordinary Shares Outstanding
January 1, 2026		Beginning Balance							100,787,173
January 15, 2026		Equity-classified Restricted Stock Issuance			833				764
January 30, 2026		Equity-classified Restricted Stock Issuance			7,332				6,116
February 25, 2026		Equity-classified Restricted Stock Issuance			1,666				1,151
March 13, 2026		Equity-classified Restricted Stock Issuance			250				30,110
March 13, 2026		Settlement of liability-classified share-based compensation			50,001				151
April, 10, 2026		Equity-classified Restricted Stock Issuance			3,000				1,343
May 20, 2026		Equity-classified Restricted Stock Issuance			1,499				340
June 30, 2026		Ending Balance							100,827,148

Date		Transaction Detail		Change in Shares				Six-month period ended June 30, 2025, Weighted Average Ordinary Shares Outstanding
January 1, 2025		Beginning Balance							96,045,856
January 6, 2025		Settlement of liability-classified share-based compensation			61,353				59,319
February 17, 2025		Equity-classified Restricted Stock Issuance			666				489
February 27, 2025		Equity-classified Restricted Stock Issuance			1,000				680
March 17, 2025		Equity-classified Restricted Stock Issuance			12,430				7,211
March 18, 2025		Equity-classified Restricted Stock Issuance			231,661				133,109
April 22, 2025		Settlement of liability-classified share-based compensation			100,001				38,122
June 30, 2025		Ending Balance							96,284,786

The following tables provide the computation of basic and diluted earnings per share (“EPS”) for the three-month period ended June 30, 2026, the three-month period ended June 30, 2025, the six-month period ended June 30, 2026, and the six-month period ended June 30, 2025, respectively (in US$ thousands, except share data and per share amounts):

		For the three-month period ended
		June 30, 2026												June 30, 2025
		Net income to Ordinary Shareholders				Weighted-average ordinary shares outstanding				EPS				Net income to Ordinary Shareholders				Weighted-average ordinary shares outstanding				EPS

Basic EPS - ordinary shares		$	44,017				100,850,601			$	0.44			$	15,201				96,428,791			$	0.16
Restricted stock units			-				2,367,809				-				-				-				-
Antidilution sequencing - subtotal			44,017				103,218,410				0.43				15,201				96,428,791				0.16
35,540,380 warrants @ $5.75 per half share			-				-				-				-				-				-
May 30, 2025, tender offer to exchange 35,540,380 warrants at a maximum of 0.10 ordinary shares per warrant			-				-				-				-				1,210,716				-
Diluted EPS - ordinary shares		$	44,017				103,218,410			$	0.43			$	15,201				97,639,507			$	0.16

		For the six-month period ended
		June 30, 2026												June 30, 2025
		Net income to Ordinary Shareholders				Weighted-average ordinary shares outstanding				EPS				Net income to Ordinary Shareholders				Weighted-average ordinary shares outstanding				EPS

Basic EPS - ordinary shares		$	67,844				100,827,148			$	0.67			$	25,592				96,284,786			$	0.27
Restricted stock units			-				2,257,430				-				-				258,726				-
Antidilution sequencing - subtotal			67,844				103,084,578				0.66				25,592				96,543,512				0.27
35,540,380 warrants @ $5.75 per half share			-				-				-				-				-				-
May 30, 2025, tender offer to exchange 35,540,380 warrants at a maximum of 0.10 ordinary shares per warrant			-				-				-				-				608,703				-
Diluted EPS - ordinary shares		$	67,844				103,084,578			$	0.66			$	25,592				97,152,215			$	0.26

Prior to the announcement of the warrant exchange offer on May 30, 2025, potentially dilutive warrants had no impact on the determination of dilutive earnings per share as these potential ordinary shares were antidilutive for the three-month and six-month periods ended June 30, 2025.

In addition to the warrants, the Company excluded 696,309, 2,364,667, 787,234 and 1,959,634 weighted-average restricted stock units from dilutive ordinary shares for the three-month period ended June 30, 2026, the three-month period ended June 30, 2025, the six-month period ended June 30, 2026, and the six-month period ended June 30, 2025, respectively, as they were assumed to be repurchased due to the impact of unrecognized share-based compensation cost.