| 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 September 30, | | Nine Months Ended September 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Basic: | | | | | | | | | Net income (loss) | $ | (15,178) | | | $ | (43,574) | | | $ | 22,440 | | | $ | (76,638) | | | Less income allocated to participating securities | — | | | — | | | (319) | | | — | | | Net income (loss) attributable to common stock | $ | (15,178) | | | $ | (43,574) | | | $ | 22,121 | | | $ | (76,638) | | | Earnings (loss) per share, basic | $ | (0.56) | | | $ | (2.41) | | | $ | 0.97 | | | $ | (4.26) | | | Weighted-average shares outstanding | 26,990 | | | 18,050 | | | 22,715 | | | 18,010 | | | Diluted: | | | | | | | | | Net income (loss) | $ | (15,178) | | | $ | (43,574) | | | $ | 22,440 | | | $ | (76,638) | | | Less income allocated to participating securities | — | | | — | | | (317) | | | — | | | Net income (loss) attributable to common stock | $ | (15,178) | | | $ | (43,574) | | | $ | 22,123 | | | $ | (76,638) | | | Earnings (loss) per share, diluted | $ | (0.56) | | | $ | (2.41) | | | $ | 0.97 | | | $ | (4.26) | | | Weighted-average shares outstanding | 26,990 | | | 18,050 | | | 22,715 | | | 18,010 | | | Dilutive effect of outstanding stock awards | — | | | — | | | 284 | | | — | | | Adjusted weighted-average shares outstanding under treasury stock method | 26,990 | | | 18,050 | | | 22,999 | | | 18,010 | | | Participating securities excluded under two-class method | — | | | — | | | (127) | | | — | | | Adjusted weighted-average shares outstanding under two-class method | 26,990 | | | 18,050 | | | 22,872 | | | 18,010 | |
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