| Earnings Per Share |
Earnings Per Share The components of basic and diluted earnings per share are as follows (in thousands, except share and per share data):
| | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | | 2026 | | 2025 | | Basic | | Diluted | | Basic | | Diluted | | Numerator for basic and diluted net income per common share: | | | | | | | | Net (loss) income from continuing operations | $ | (28,692) | | | $ | (28,692) | | | $ | (15,957) | | | $ | (15,957) | | | Net income from discontinued operations, net of tax | — | | | — | | | 12,359 | | | 12,359 | | | Net loss | (28,692) | | | (28,692) | | | (3,598) | | | (3,598) | | | | | | | | | | | Plus: Convertible Notes interest expense (after tax) | — | | | — | | | — | | | — | | | Net loss available to the Company’s common shareholders | $ | (28,692) | | | $ | (28,692) | | | $ | (3,598) | | | $ | (3,598) | | | Denominator: | | | | | | | | | Basic weighted-average outstanding shares of common stock | 33,753,136 | | | 33,753,136 | | | 40,558,629 | | | 40,558,629 | | | Dilutive effect of: | | | | | | | | | Equity incentive plans | — | | | — | | | — | | | — | | | Convertible debt | — | | | — | | | — | | | — | | | Diluted weighted-average outstanding shares of common stock | 33,753,136 | | | 33,753,136 | | | 40,558,629 | | | 40,558,629 | | | | | | | | | | | Net loss per share from continuing operations: | $ | (0.85) | | | $ | (0.85) | | | $ | (0.39) | | | $ | (0.39) | | | Net income per share from discontinued operations: | $ | — | | | $ | — | | | $ | 0.30 | | | $ | 0.30 | | | Net loss per share: | $ | (0.85) | | | $ | (0.85) | | | $ | (0.09) | | | $ | (0.09) | |
| | | | | | | | | | | | | | | | | | | | | | | | | Nine months ended September 30, | | 2026 | | 2025 | | Basic | | Diluted | | Basic | | Diluted | | Numerator for basic and diluted net income per common share: | | | | | | | | Net (loss) income from continuing operations | $ | (81,620) | | | $ | (81,620) | | | $ | 8,163 | | | $ | 8,163 | | | Net income from discontinued operations, net of tax | 699,650 | | | 699,650 | | | 38,821 | | | 38,821 | | | Net income | 618,030 | | | 618,030 | | | 46,984 | | | 46,984 | | | | | | | | | | | Plus: Convertible Notes interest expense (after tax) | — | | | — | | | — | | | — | | | Net income available to the Company’s common shareholders | $ | 618,030 | | | $ | 618,030 | | | $ | 46,984 | | | $ | 46,984 | | | Denominator: | | | | | | | | | Basic weighted-average outstanding shares of common stock | 35,896,452 | | | 35,896,452 | | | 41,609,182 | | | 41,609,182 | | | Dilutive effect of: | | | | | | | | | Equity incentive plans | — | | | — | | | — | | | 101,776 | | | Convertible debt | — | | | — | | | — | | | — | | | Diluted weighted-average outstanding shares of common stock | 35,896,452 | | | 35,896,452 | | | 41,609,182 | | | 41,710,958 | | | | | | | | | | | Net (loss) income per share from continuing operations: | $ | (2.27) | | | $ | (2.27) | | | $ | 0.20 | | | $ | 0.20 | | | Net income per share from discontinued operations: | $ | 19.49 | | | $ | 19.49 | | | $ | 0.93 | | | $ | 0.93 | | | Net income per share: | $ | 17.22 | | | $ | 17.22 | | | $ | 1.13 | | | $ | 1.13 | |
For the three months ended September 30, 2026 and 2025, there were 2,852,100 and 2,778,944 shares, respectively, of stock options and restricted stock excluded from the calculation of diluted shares as they were anti-dilutive due to the average stock price during the 2026 and 2025 periods, respectively. For the nine months ended September 30, 2026 and 2025, there were 2,852,100 and 848,420 shares, respectively, of stock options and restricted stock excluded from the calculation of diluted shares as they were anti-dilutive due to the average stock price during the 2026 and 2025 periods, respectively. For the three months ended September 30, 2026 and 2025, 4,029,861 and 4,029,861 shares, respectively, related to convertible debt were excluded from diluted shares because they were anti-dilutive under the if-converted method for the diluted net income per share calculation. For the nine months ended September 30, 2026 and 2025, 4,029,861 and 4,029,861 shares, respectively, related to convertible debt were excluded from diluted shares because they were anti-dilutive under the if-converted method for the diluted net income per share calculation.
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