| Computation of Net Income Per Share, Basic and Diluted |
The following table sets forth the computation of net income per share, on a basic and diluted basis, for the periods indicated (share count and dollar amounts other than per-share amounts in the table are in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Basic: | | | | | | | | | Net income (loss) | $ | (4,860) | | | $ | (65,166) | | | $ | 37,618 | | | $ | (33,064) | | | Less income allocated to participating securities | — | | | — | | | (540) | | | — | | | Net income (loss) attributable to common stock | $ | (4,860) | | | $ | (65,166) | | | $ | 37,078 | | | $ | (33,064) | | | Earnings (loss) per share, basic | $ | (0.21) | | | $ | (3.62) | | | $ | 1.80 | | | $ | (1.84) | | | Weighted-average shares outstanding | 22,852 | | | 17,995 | | | 20,542 | | | 17,989 | | | Diluted: | | | | | | | | | Net income (loss) | $ | (4,860) | | | $ | (65,166) | | | $ | 37,618 | | | $ | (33,064) | | | Less income allocated to participating securities | — | | | — | | | (538) | | | — | | | Net income (loss) attributable to common stock | $ | (4,860) | | | $ | (65,166) | | | $ | 37,080 | | | $ | (33,064) | | | Earnings (loss) per share, diluted | $ | (0.21) | | | $ | (3.62) | | | $ | 1.80 | | | $ | (1.84) | | | Weighted-average shares outstanding | 22,852 | | | 17,995 | | | 20,542 | | | 17,989 | | | Dilutive effect of outstanding stock awards | — | | | — | | | 197 | | | — | | | Adjusted weighted-average shares outstanding under treasury stock method | 22,852 | | | 17,995 | | | 20,739 | | | 17,989 | | | Participating securities excluded under two-class method | — | | | — | | | (105) | | | — | | | Adjusted weighted-average shares outstanding under two-class method | 22,852 | | | 17,995 | | | 20,634 | | | 17,989 | |
|