Net Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2025

NET INCOME (LOSS) PER COMMON SHARE

Please refer to Note 1 for information regarding the Company’s treatment of its preferred stock and stock awards in the calculation of its basic and diluted net income or loss per common share and to Note 7 for information regarding the Company’s stock award activity for the periods presented. The following table presents the computations of basic and diluted net income or loss per common share for the periods indicated:


	Three Months Ended
	March 31,
($s in thousands)	2025		2024
Weighted average number of common shares outstanding - basic	90,492,327		59,003,218
Incremental common shares-unvested RSUs	—		379,880
Incremental common shares-unvested PSUs	—		329,136
Weighted average number of common shares outstanding - diluted	90,492,327		59,712,234

Net (loss) income to common shareholders	$	(4,999)	$	38,195
Net (loss) income per common share-basic	$	(0.06)	$	0.65
Net (loss) income per common share-diluted	$	(0.06)	$	0.64

The calculation of diluted net loss per common share for the three months ended March 31, 2025 excludes unvested RSUs and PSUs of 547,845, which would have been anti-dilutive for the period.