NET EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2025

NET EARNINGS PER SHARE

NET EARNINGS PER SHARE

NOTE 20 – NET EARNINGS PER SHARE

The Company’s basic net earnings per share is calculated by dividing net income attributable to common shareholders by the weighted-average number of shares of common stock outstanding for the period, without consideration of potentially dilutive securities. The diluted net earnings per share is calculated by giving effect to all potentially dilutive securities outstanding for the period using the treasury share method or the if-converted method based on the nature of such securities. Diluted net earnings per share is the same as basic net earnings per share in periods when the effects of potentially dilutive shares of common shares are anti-dilutive.

Basic and diluted net earnings per share attributable to common stockholders were calculated as follows:

	Three Months Ended				Nine months ended
	September 30,				September 30,
	2025		2024		2025		2024
	(In thousands, except share and per share data)
Numerator:
Net income	$	14,123	$	41,574	$	54,180	$	102,973
Denominator:
Weighted average common shares outstanding —
Basic		368,266,611		357,297,824		372,726,412		357,631,049
Add:
Dilutive impact of RSUs, ESPP and options to purchase common stock		8,824,839		16,222,829		15,155,419		20,759,274
Dilutive impact of private warrants		542,073		782,817		737,414		735,040
Weighted average common shares – diluted		377,633,523		374,303,470		388,619,245		379,125,363
Net income per share attributable to common stockholders — Basic earnings per share	$	0.04	$	0.12	$	0.15	$	0.29
Diluted earnings per share	$	0.04	$	0.11	$	0.14	$	0.27

For the three and nine month periods ended September 30, 2025, 2,750,000 RSUs with market conditions, 895,103 PSUs, 15,000,000 Earn-Out Shares (as that term is defined in the Agreement and Plan of Reorganization dated February 3, 2021 (as amended) with FTAC Olympus Acquisition Corp.), and ESPP shares to be issued under the current offering period were excluded from the computation of diluted net earnings per share, as their effect was antidilutive, conditions were not met or they were not in the money in the reporting period. For the three and nine month period ended September 30, 2025, 7,997,605 and 7,551,699 RSUs, and 1,487,008 and 417,008 options to purchase common stock, respectively, have been excluded for the same reason.

In both the three and nine month periods ended September 30, 2024, 3,590,000 RSUs with market conditions, 15,000,000 Earn-Out Shares, 1,521,963 options to purchase common stock, and ESPP shares to be issued under the May 15, 2024 offering period were excluded for the same reason. For the three and nine month periods ended September 30, 2024, 2,866,158 and 3,913,995 RSUs, respectively, have been excluded for the same reason.