Net Income (Loss) Available to Common Stockholders Per Share of the Company

3 Months Ended

Mar. 31, 2026

Net Income (Loss) Available to Common Stockholders Per Share of the Company

The following table reconciles the numerator and denominator in computing the Company’s basic and diluted per-share computations for net income available to common stockholders:


	Three Months Ended March 31,
	2026		2025
	(in thousands, except share and per share amounts)
Numerator:
Net (loss) income available to common stockholders	$	(19,267)	$	39,008

Allocation to participating securities (1)	53		(212)
Numerator for basic and diluted net (loss) income available to common stockholders	$	(19,214)	$	38,796
Denominator:
Basic weighted average vested shares outstanding	117,636,517		118,194,588
Effect of dilutive securities	—		469,842
Diluted weighted average vested shares and common stock equivalents outstanding	117,636,517		118,664,430
Basic earnings per share:
Net (loss) income available to common stockholders per share	$	(0.16)	$	0.33
Diluted earnings per share:
Net (loss) income available to common stockholders per share	$	(0.16)	$	0.33

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(1)Participating securities include certain vested time-based RSUs and performance-based RSUs.

Share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are considered participating securities. The impact of potentially dilutive common shares, including RSUs, are considered in our diluted earnings per share calculation for the three months ended March 31, 2026 and 2025. Certain performance-based RSUs are not included in dilutive securities for the three months ended March 31, 2026 and 2025, as not all performance metrics had been met by the end of the applicable reporting periods and/or they were anti-dilutive. Additionally, time-based RSUs are not included in dilutive securities for the three months ended March 31, 2026 as they were anti-dilutive.

See Note 8 “Share-Based Compensation” for additional information regarding share-based compensation.