EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except share and per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Basic net income per share:
Net income attributable to common stock	$	44,208	$	23,527	$	214,432	$	2,107
Weighted-average common shares outstanding	95,305,096		64,942,755		93,559,319		64,249,928
Basic net income per share	$	0.46	$	0.36	$	2.29	$	0.03

Diluted net income per share:
Net income attributable to common stock	$	44,208	$	23,527	$	214,432	$	2,107
Add: convertible debt interest expense, net of tax	—		118		—		—
Adjusted net income attributable to common stock	$	44,208	$	23,645	$	214,432	$	2,107
Weighted-average common shares and share equivalents outstanding	110,713,513		78,458,195		109,943,953		77,952,959
Diluted net income per share	$	0.40	$	0.30	$	1.95	$	0.03

Schedule of Potentially Dilutive Shares Excluded from Calculation of Earnings Per Share

The potentially dilutive shares of common stock that have been excluded from the calculation of earnings per share because of the anti-dilutive effect or the shares are contingently issuable based on satisfaction of performance conditions, are as follows:


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Outstanding stock options	122,351	5,260,966	81,080	5,133,269
Warrants to purchase shares of common stock	500,000	462,500	500,000	562,500
Convertible preferred stock	—	793,430	—	793,430
Debt/accrued interest convertible into shares of common stock	—	—	—	319,902
Unvested restricted stock awards	75,000	2,024,768	75,000	2,024,309
Total potentially dilutive shares of common stock	697,351	8,541,664	656,080	8,833,410