| Schedule of Reconciliation of Basic and Diluted Earnings Per Common Share |
The following is a reconciliation of basic and diluted earnings (loss) per common share (in thousands, except share and per-share data): | | | | | | | | | | | | | | | | | | | | | | | | | | For the three months ended
June 30, | | For the six months ended
June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Numerator: | | | | | | | | | Net income (loss) attributable to common shareholders | $ | 20,659 | | | $ | 7,424 | | | $ | (9,042) | | | $ | (36,154) | | | Less: Dividends paid on unvested share-based compensation | (8) | | | (8) | | | (15) | | | (17) | | | Less: Undistributed earnings attributable to share-based compensation | (125) | | | (45) | | | — | | | — | | | Net income (loss) available to common shareholders — basic | $ | 20,526 | | | $ | 7,371 | | | $ | (9,057) | | | $ | (36,171) | | | | | | | | | | | Plus: Interest expense on convertible notes | 1,531 | | | — | | | — | | | — | | | Net income (loss) available to common shareholders — diluted | $ | 22,057 | | | $ | 7,371 | | | $ | (9,057) | | | $ | (36,171) | | | Denominator: | | | | | | | | | Weighted-average number of common shares — basic | 112,741,241 | | | 118,172,417 | | | 113,034,743 | | | 118,685,483 | | | Effect of dilutive share-based compensation | 624,642 | | | 211,029 | | | — | | | — | | | Effect of dilutive convertible notes | 13,739,215 | | | — | | | — | | | — | | | Weighted-average number of common shares — diluted | 127,105,098 | | | 118,383,446 | | | 113,034,743 | | | 118,685,483 | | | Net income (loss) per share available to common shareholders — basic | $ | 0.18 | | | $ | 0.06 | | | $ | (0.08) | | | $ | (0.30) | | | Net income (loss) per share available to common shareholders — diluted | $ | 0.17 | | | $ | 0.06 | | | $ | (0.08) | | | $ | (0.30) | |
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