Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

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 September 30,				For the nine months ended September 30,
	2025		2024		2025		2024
Numerator:
Net income (loss) attributable to common shareholders	$	(43,366)	$	33,026	$	(79,520)	$	14,349
Less: Dividends paid on unvested share-based compensation	(9)		(9)		(26)		(28)
Less: Undistributed earnings attributable to share-based compensation	—		(247)		—		(83)
Net income (loss) available to common shareholders — basic	$	(43,375)	$	32,770	$	(79,546)	$	14,238
Plus: Interest expense on convertible notes	—		3,281		—		—
Net income (loss) available to common shareholders — diluted	$	(43,375)	$	36,051	$	(79,546)	$	14,238
Denominator:
Weighted-average number of common shares — basic	117,555,628		119,640,463		118,304,722		119,938,931
Effect of dilutive share-based compensation	—		270,228		—		428,420
Effect of dilutive convertible notes	—		29,441,175		—		—
Weighted-average number of common shares — diluted	117,555,628		149,351,866		118,304,722		120,367,351
Net income (loss) per share available to common shareholders — basic	$	(0.37)	$	0.27	$	(0.67)	$	0.12
Net income (loss) per share available to common shareholders — diluted	$	(0.37)	$	0.24	$	(0.67)	$	0.12