v3.26.1
Net Loss Per Share
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Net Loss Per Share Net Loss Per Share
The following is a summary of the basic and diluted net loss per share computation for the periods presented:
Three Months Ended June 30, Six Months Ended June 30,
(In thousands, except share and per share data)2026202520262025
Net loss attributable to common stockholders$(8,299)$(41,660)$(16,074)$(50,252)
Adjustments to net loss attributable to common stockholders— — — — 
Adjusted net loss available to common stockholders - Basic and Diluted$(8,299)$(41,660)$(16,074)$(50,252)
Weighted average shares outstanding — Basic and Diluted2,733,561 2,541,402 2,645,856 2,537,501 
Net loss per share attributable to common stockholders — Basic and Diluted$(3.04)$(16.39)$(6.08)$(19.80)
Under current authoritative guidance for determining earnings per share, all unvested share-based payment awards that contain non-forfeitable rights to distributions are considered to be participating securities and therefore are included in the computation of earnings per share under the two-class method. The two-class method is an earnings allocation formula that determines earnings per share for each class of common shares and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. The Company’s unvested restricted shares contain rights to receive distributions considered to be non-forfeitable, except in certain limited circumstances, and therefore the Company applies the two-class method of computing earnings per share. The calculation of earnings per share above adjusts net loss to exclude the distributions to the unvested restricted shares. On July 1, 2022, the Company announced that it suspended its policy regarding dividends paid on its Class A common stock, beginning with the dividend that would have been payable for the quarter ended June 30, 2022.
Diluted net income (loss) per share assumes the conversion of all Class A common stock share equivalents into an equivalent number of shares of Class A common stock, unless the effect is anti-dilutive. The Company considers unvested restricted shares and Class A Units to be common share equivalents. The following table shows common share equivalents on a weighted average basis that were excluded from the calculation of diluted earnings per share as their effect would have been antidilutive for the periods presented.
Three Months Ended June 30, Six Months Ended June 30,
2026202520262025
Unvested restricted shares (1)
125,813 90,826 130,761 95,784 
Total weighted-average anti-dilutive common share equivalents125,813 90,826 130,761 95,784 
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(1)There were 110,193 and 75,202 unvested restricted shares outstanding as of June 30, 2026 and 2025, respectively.