18. EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed by dividing net income (loss) attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. The computation of diluted net loss per share does not include dilutive ordinary share equivalents in the weighted average shares outstanding, as they would be anti-dilutive.

For the three months ended September 30, 2026, the dilutive effect of 12,500 unvested RSUs and 2,000,000 shares of convertible preferred shares were included in the calculation of diluted earnings per share. The 350,000 stock options were excluded from the calculation of diluted earnings per share because they were anti-dilutive.

For the nine months ended September 30, 2026, 12,500 unvested RSUs, 350,000 stock options and 2,000,000 shares of convertible preferred shares were excluded from the calculation of diluted earnings per share because they were anti-dilutive.

For the three and nine months ended September 30, 2026, approximately 36 million ordinary shares issuable upon conversion of the 2030 Notes at a conversion price of $4.16 per share were evaluated for dilution. These shares were excluded from the calculation of diluted loss per share for the nine months ended September 30, 2026, as their inclusion would have been anti-dilutive.

For the three and nine months ended September 30, 2025, 133,198 unvested RSUs, 360,000 stock options and 1,000,000 shares of convertible preferred shares were excluded from the calculation of diluted earnings per share because they were anti-dilutive.