Basic earnings per share is calculated by dividing income from continuing operations, income from discontinued operations, or net income by the weighted-average number of shares outstanding during the period, including contingently issuable shares. Diluted earnings per share is calculated by dividing income from continuing operations, income from discontinued operations, or net income by the weighted-average number of common shares outstanding, after giving effect to all dilutive potential common shares outstanding during the period. Dilutive potential common shares include shares that may be issued under warrants, including warrants issued in connection with the Oaktree Credit Agreement and private debt exchange transactions, and restricted stock and stock option awards. As of May 29, 2026, the Oaktree Warrants issued in connection with the Oaktree Credit Agreement were exercised and are no longer outstanding.

Securities that could potentially dilute basic net income per share in the future that were not included in the computation of diluted net income per share as the effect would be anti-dilutive were 1,602,885 during the three and nine months ended September 30, 2026 and 3,320,660 during the three and nine months ended September 30, 2025.


	Three Months Ended September 30,
	2026						2025
	Continuing Operations		Discontinued Operations		Total		Continuing Operations		Discontinued Operations		Total
Numerator:
Net (loss) income	$	(245,291)	$	(2,401)	$	(247,692)	$	97,419	$	(1,866)	$	95,553
Net (loss) income attributable to noncontrolling interests	(6,689)		—		(6,689)		4,470		—		4,470
Net (loss) income attributable to Registrant	(238,602)		(2,401)		(241,003)		92,949		(1,866)		91,083
Preferred stock dividends	2,015		—		2,015		2,015		—		2,015
Net (loss) income available to common shareholders	$	(240,617)	$	(2,401)	$	(243,018)	$	90,934	$	(1,866)	$	89,068
Diluted net (loss) income attributable to common stockholders	$	(240,617)	$	(2,401)	$	(243,018)	$	90,934	$	(1,866)	$	89,068


	Nine Months Ended September 30,
	2026						2025
	Continuing Operations		Discontinued Operations		Total		Continuing Operations		Discontinued Operations		Total
Numerator:
Net (loss) income	$	(1,535)	$	(2,401)	$	(3,936)	$	149,144	$	70,841	$	219,985
Net income (loss) attributable to noncontrolling interests	3,245		—		3,245		(594)		—		(594)
Net (loss) income attributable to Registrant	(4,780)		(2,401)		(7,181)		149,738		70,841		220,579
Preferred stock dividends	6,045		—		6,045		6,045		—		6,045
Net (loss) income available to common shareholders	$	(10,825)	$	(2,401)	$	(13,226)	$	143,693	$	70,841	$	214,534
Add back: Change in fair value of warrants and gain on warrant exercise	(1,331)		—		(1,331)		—		—		—
Diluted net (loss) income attributable to common stockholders	$	(12,156)	$	(2,401)	$	(14,557)	$	143,693	$	70,841	$	214,534


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Denominator:
Weighted average common shares outstanding:
Basic	40,232,819		30,597,066		36,683,700		30,541,169
Effect of dilutive potential common shares:
Restricted stock units, warrants	—		—		153,893		—
Diluted	40,232,819		30,597,066		36,837,593		30,541,169

Basic net income (loss) per common share:
Continuing operations	$	(5.98)	$	2.97	$	(0.29)	$	4.70
Discontinued operations	(0.06)		(0.06)		(0.07)		2.32
Basic (loss) income per common share	$	(6.04)	$	2.91	$	(0.36)	$	7.02
Diluted net income (loss) per common share:
Continuing operations	$	(5.98)	$	2.97	$	(0.33)	$	4.70
Discontinued operations	(0.06)		(0.06)		(0.07)		2.32
Diluted (loss) income per common share	$	(6.04)	$	2.91	$	(0.40)	$	7.02