The following table presents a reconciliation of the numerator and denominator of basic and diluted loss per share for the three and nine months ended September 30, 2026 and 2025, respectively:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands, except per share amounts)	2026		2025		2026		2025
Numerator for basic and diluted loss per share:
Net loss	$	(46,768)	$	(28,482)	$	(130,516)	$	(154,719)
Denominator:
Weighted average common shares outstanding for basic calculation	26,514,073		25,933,254		26,287,719		25,896,520

Weighted average common shares outstanding for diluted calculation	26,514,073		25,933,254		26,287,719		25,896,520
Basic loss per share	$	(1.76)	$	(1.10)	$	(4.96)	$	(5.97)
Diluted loss per share	$	(1.76)	$	(1.10)	$	(4.96)	$	(5.97)

Basic loss per share is calculated by dividing net loss by the weighted average number of common shares outstanding. Diluted loss per share is calculated by dividing net loss by the sum of the weighted average number of common shares outstanding plus the additional common shares that would have been outstanding if potentially dilutive securities had been issued.

The weighted average common shares outstanding for the diluted loss per share calculation for the three and nine months ended September 30, 2026 excludes the dilutive effect of approximately 5,847 shares and 7,416 shares, respectively, and 71,431 shares and 38,435 shares for the three and nine months ended September 30, 2025, respectively, primarily related to restricted stock units (“RSUs”), as their inclusion would have been anti-dilutive due to the Company’s net loss.

Additionally, the weighted average common shares outstanding for the diluted loss per share calculation excludes consideration of 419,731 and 477,646 equivalent shares for the three and nine months ended September 30, 2026, respectively, and 344,189 and 379,827 equivalent shares for the three and nine months ended September 30, 2025, respectively, as their effect would have been anti-dilutive.