All share and per share data in the table and discussion below for all periods presented reflect the 1-for-10 reverse stock split, which became effective on August 29, 2025. See Note 1, “Business and Summary of Significant Accounting Policies” for further information

The following table presents a reconciliation of the numerator and denominator of basic and diluted loss per share:


(dollars in thousands; except per share amounts)	2025		2024		2023
Numerator for basic and diluted loss per share:
Net loss	$	(219,835)	$	(131,165)	$	(255,250)
Denominator:
Weighted average common shares outstanding for basic calculation	26,004,964		25,766,825		25,710,929
Weighted average common shares outstanding for diluted calculation	26,004,964		25,766,825		25,710,929
Basic loss per share	$	(8.45)	$	(5.09)	$	(9.93)
Diluted loss per share	$	(8.45)	$	(5.09)	$	(9.93)

Basic loss per share is calculated by dividing net loss by the weighted average number of common shares outstanding. Diluted loss per share is calculated by dividing net loss by the sum of the weighted average number of common shares outstanding plus the additional common shares that would have been outstanding if potentially dilutive securities had been issued.

The weighted average common shares outstanding for the diluted loss per share calculation for the years ended December 31, 2025, 2024 and 2023 excludes the dilutive effect of approximately 61,774, 4,833 and 4,120 shares, respectively, primarily related to restricted stock units, as their inclusion would have been anti-dilutive due to the Company's net loss.