Three Months Ended

Nine Months Ended

September 30,
2025

September 30,
2024

September 30,
2025

September 30,
2024

(Dollars in thousands, except per share amounts)

Net income (loss) attributable to common shareholders

$

(84,989

)

$

(24,753

)

$

(278,971

)

$

(68,626

)

Redeemable preferred stock dividends and accretion

(17,025

)

(11,081

)

(46,722

)

(31,601

)

Noncontrolling redeemable equity dividend

(6

)

(5

)

(17

)

(11

)

Basic numerator

$

(102,020

)

$

(35,839

)

$

(325,710

)

$

(100,238

)

Weighted average shares outstanding – Basic

33,664

28,886

30,782

28,625

Dilutive effect of common share equivalents

—

—

—

—

Weighted average shares outstanding – Diluted

33,664

28,886

30,782

28,625

Basic earnings (loss) per share

$

(3.03

)

$

(1.24

)

$

(10.58

)

$

(3.50

)

Diluted earnings (loss) per share

$

(3.03

)

$

(1.24

)

$

(10.58

)

$

(3.50

)