| Schedule of Basic and Diluted Net Income Per Share of Common Stock |
The following table sets forth the computation of basic and diluted net income (loss) per share of common stock:
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For the Three Months
Ended June 30, |
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For the Six Months
Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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(in thousands) |
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Net income |
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$ |
9,432 |
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$ |
20,098 |
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$ |
3,839 |
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$ |
7,426 |
|
Net income attributable to non-controlling interests |
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(3,317 |
) |
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— |
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(4,365 |
) |
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— |
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Dividends on redeemable preferred stock |
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(1,433 |
) |
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(1,433 |
) |
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(2,851 |
) |
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(2,851 |
) |
Net income (loss) attributable to common stockholders |
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$ |
4,682 |
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$ |
18,665 |
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$ |
(3,377 |
) |
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$ |
4,575 |
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Adjustment for assumed settlement of APC RSUs and
APC PSUs (1) |
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(6 |
) |
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— |
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— |
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— |
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Net income (loss) attributable to common stockholders —
Diluted |
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$ |
4,676 |
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$ |
18,665 |
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$ |
(3,377 |
) |
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$ |
4,575 |
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Weighted average common shares outstanding — Basic |
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112,186 |
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114,012 |
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111,760 |
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|
114,945 |
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Effect of dilutive securities: |
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RSUs and PSUs |
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3,696 |
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1,399 |
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— |
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|
700 |
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Weighted average common shares outstanding — Diluted |
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115,882 |
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|
115,411 |
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111,760 |
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|
115,645 |
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Net income (loss) per share attributable to common
stockholders — Basic |
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$ |
0.04 |
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$ |
0.16 |
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$ |
(0.03 |
) |
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$ |
0.04 |
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Net income (loss) per share attributable to common
stockholders — Diluted |
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$ |
0.04 |
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$ |
0.16 |
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$ |
(0.03 |
) |
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$ |
0.04 |
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(1)The adjustment represents the increase in net income attributable to non-controlling interests resulting from the assumed settlement of dilutive APC RSUs and APC PSUs outstanding.
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| Schedule of Antidilutive Securities Excluded from Computation of Diluted Net Income Per Share |
The following potential shares of common stock have been excluded from the computation of diluted net income per share because their effect would have been antidilutive:
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As of June 30, |
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2026 |
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2025 |
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(in thousands) |
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Stock options |
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1,306 |
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1,306 |
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Series A redeemable preferred stock |
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8,703 |
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8,613 |
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Public and Private warrants |
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— |
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17,333 |
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Ares warrants |
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— |
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1,100 |
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