For The Years Ended December 31,

2025

2024

2023

Numerator:

Net income (loss) from continuing operations

$

104,796

$

(68,931

)

$

(182,266

)

Less: Net loss attributable to noncontrolling interests

(1,553

)

(2,459

)

(2,232

)

Net income (loss) from continuing operations attributable to common shareholders

106,349

(66,472

)

(180,034

)

Net income from discontinued operations

84,317

48,410

25,431

Net income (loss) attributable to common shareholders

$

190,666

$

(18,062

)

$

(154,603

)

Denominator:

Weighted-average shares outstanding - basic

202,564

192,997

117,868

Effect of dilutive securities:

Stock options

8,865

—

—

RSUs

8,345

—

—

TEUs

—

—

—

Weighted-average shares outstanding - diluted

219,774

192,997

117,868

Basic income (loss) per share attributable to common shareholders:

Continuing operations

$

0.53

$

(0.34

)

$

(1.53

)

Discontinued operations

$

0.41

$

0.25

$

0.22

Net income (loss) per share

$

0.94

$

(0.09

)

$

(1.31

)

Diluted income (loss) per share attributable to common shareholders:

Continuing operations

$

0.48

$

(0.34

)

$

(1.53

)

Discontinued operations

$

0.39

$

0.25

$

0.22

Net income (loss) per share

$

0.87

$

(0.09

)

$

(1.31

)