Basic earnings (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per common share is calculated in the same manner but includes the impact of potentially dilutive securities utilizing the treasury stock method. Potentially dilutive securities consists of issuable shares related to warrants, unvested restricted stock units (“RSUs”), and unvested performance share units (“PSUs”).


	Three Months Ended March 31,
	2026		2025
Numerator
Net income (loss), basic and diluted	$	1,159	$	(249)

Denominator (in thousands)
Weighted average common shares outstanding, basic	239,900		234,434
Effect of potentially dilutive securities
Warrants	462		—
Restricted stock units	397		—
Performance share units	—		—
Weighted average common shares outstanding, diluted	240,759		234,434

Earnings (loss) per common share:
Basic	$	4.83	$	(1.06)
Diluted	$	4.81	$	(1.06)

During the Current Quarter and Prior Quarter, the diluted earnings (loss) per share calculation excludes the effect of 10,837 and 308,646 reserved shares of common stock and 0 and 582,109 reserved Class C Warrants related to the settlement of General Unsecured Claims associated with the Chapter 11 Cases, as all necessary conditions had not been met for such shares to be considered dilutive shares during the Current Quarter and Prior Quarter, respectively. On February 9, 2026, the Warrants, including the Class C Warrants, expired. For additional information on the Warrants, see Note 9. Additionally, the diluted loss per share calculation during the Prior Quarter excludes the antidilutive effect of 5,634,917 Warrants, 413,816 RSUs and 154,868 PSUs.