| Net Income (Loss) per Common Share |
15. Net Income (Loss) per Common Share The following table presents the computation of the Company’s basic and diluted income (loss) per share: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2025 | | 2024 | | 2025 | | 2024 | | (Dollars in thousands) | | Numerator: | | | | | | | | | Net (loss) income attributed to common stockholders - basic | $ | (19,690) | | | $ | 6,696 | | | $ | (88,846) | | | $ | (544) | | | Adjustments related to convertible debt | — | | | (6,173) | | | — | | | (4,834) | | | Net (loss) income attributed to common stockholders - diluted | $ | (19,690) | | | $ | 523 | | | $ | (88,846) | | | $ | (5,378) | | | | | | | | | | | Denominator: | | | | | | | | | Basic weighted-average shares | 95,113,669 | | | 49,325,518 | | | 89,249,913 | | | 49,171,414 | | | Weighted-average dilutive share equivalents | | | | | | | | | Convertible debt | — | | | 4,155,652 | | | — | | | 4,530,511 | | | Restricted stock units | — | | | 426,888 | | | — | | | — | | | Diluted weighted-average shares | 95,113,669 | | | 53,908,058 | | | 89,249,913 | | | 53,701,925 | | | | | | | | | | Net (loss) income per share: | | | | | | | | | Basic | $ | (0.21) | | | $ | 0.14 | | | $ | (1.00) | | | $ | (0.01) | | | Diluted | $ | (0.21) | | | $ | 0.01 | | | $ | (1.00) | | | $ | (0.10) | |
The Company has PSUs, which are only included in diluted net income (loss) per share to the extent the underlying performance conditions have been satisfied at the end of the reporting period, or would be considered satisfied if the end of the reporting period was the end of the related performance period and the result would be dilutive. The following weighted-average shares have been excluded from the calculation of diluted net loss per share for each period presented because they are anti-dilutive: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2025 | | 2024 | | 2025 | | 2024 | | Options to purchase common stock | 1,483,074 | | | 2,275,077 | | | 1,580,893 | | | 2,337,331 | | | Warrants | 48,529 | | | 188,235 | | | 48,529 | | | 188,235 | | | Restricted stock units | 8,803,475 | | | 794,716 | | | 5,813,564 | | | 3,854,406 | | | Performance-based stock units | 1,840,068 | | | 1,010,353 | | | 1,219,680 | | | 492,353 | | Total shares excluded from diluted loss per share | 12,175,146 | | | 4,268,381 | | | 8,662,666 | | | 6,872,325 | |
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