EARNINGS (LOSS) PER SHARE

9 Months Ended

Sep. 30, 2026

Basic EPS is computed by dividing net income (loss) by the basic weighted-average number of common shares outstanding for the period. Diluted EPS is calculated to give effect to all potentially dilutive common stock equivalents that were outstanding during the reporting period. The dilutive effects of outstanding common stock equivalents are determined using the treasury-stock and if-converted method, only in periods in which such effect would have been dilutive for the period.


Table 13: Weighted-Average Number of Shares Outstanding – Earnings (Loss) per Share
	For the Three Months Ended		For the Nine Months Ended
	September 30, 2026	September 30, 2025	September 30, 2026	September 30, 2025

	(in thousands)
Basic weighted-average number of shares outstanding	74,244	72,580	74,322	72,819
Dilutive effect on unvested restricted stock units and stock options	2,252	—	2,938	—
Diluted weighted-average number of shares outstanding	76,496	72,580	77,260	72,819

For the period of net loss, potentially dilutive securities are not included in the calculation of diluted net earnings (loss) per share, because doing so would be anti-dilutive. For the three and nine months ended September 30, 2025, the diluted earnings per share calculation excluded 2,972,000 and 2,073,000, respectively, of potentially dilutive securities that were anti-dilutive.

For the three and nine months ended September 30, 2026, and 2025, the outstanding PSUs aggregating to 7,584,241 and 8,565,699 shares, respectively, have been excluded from the calculation of potentially dilutive securities above because the issuance of shares is contingent upon certain conditions that were not satisfied by the end of the period. Further, an additional 2,206,163 of outstanding PSUs were excluded in the computation of potentially dilutive securities above because they were antidilutive for the nine months ended September 30, 2025.