| 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 September 30, |
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For the Nine Months
Ended September 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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$ |
14,305 |
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$ |
13,459 |
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$ |
18,144 |
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$ |
20,885 |
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Net income attributable to non-controlling interests |
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(3,609 |
) |
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— |
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(7,974 |
) |
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— |
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Net income attributable to participating RSUs |
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(10 |
) |
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— |
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(6 |
) |
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— |
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Dividends on redeemable preferred stock |
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(1,450 |
) |
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(1,450 |
) |
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(4,301 |
) |
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(4,301 |
) |
Net income attributable to common stockholders — Basic |
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$ |
9,236 |
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$ |
12,009 |
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$ |
5,863 |
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$ |
16,584 |
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Adjustment for assumed settlement of APC RSUs and
APC PSUs (1) |
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(3 |
) |
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— |
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(5 |
) |
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— |
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Net income attributable to common stockholders —
Diluted |
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$ |
9,233 |
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$ |
12,009 |
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$ |
5,858 |
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$ |
16,584 |
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Weighted average common shares outstanding — Basic |
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112,182 |
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|
112,723 |
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111,902 |
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|
114,196 |
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Effect of dilutive securities: |
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RSUs and PSUs |
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3,664 |
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2,479 |
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3,397 |
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1,293 |
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Weighted average common shares outstanding — Diluted |
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115,846 |
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115,202 |
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115,299 |
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|
115,489 |
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Net income per share attributable to common
stockholders — Basic |
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$ |
0.08 |
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$ |
0.11 |
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$ |
0.05 |
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$ |
0.15 |
|
Net income per share attributable to common
stockholders — Diluted |
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$ |
0.08 |
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$ |
0.10 |
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$ |
0.05 |
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$ |
0.14 |
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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 September 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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8,726 |
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8,636 |
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Participating RSUs |
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118 |
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— |
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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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