Quarterly report [Sections 13 or 15(d)]

Earnings per Common Share (Tables)

v3.25.3
Earnings per Common Share (Tables)
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Summary of Reconciliation of Net Income (Loss) and Common Stock Share Amounts
A reconciliation of net loss and common share amounts used in the computation of basic and diluted income (loss) per common share is presented below.
Three Months Ended September 30,
Nine Months Ended September 30,
2025 2024 2025 2024
Numerator:
Net loss from continuing operations $ (9,657) $ (5,627) $ (14,678) $ (8,731)
Net income (loss) from discontinued operations 67,073  3,673  64,858  (8,783)
Net income (loss) $ 57,416  $ (1,954) $ 50,180  $ (17,514)
Denominator:
Total weighted-average common shares outstanding 82,454,657  78,044,254  81,223,912  77,151,361 
Basic and diluted earnings (loss) per share
Continuing operations $ (0.12) $ (0.07) $ (0.18) $ (0.11)
Discontinued operations 0.81  0.05  0.80  (0.11)
Total basic and diluted earnings (loss) per share $ 0.70  $ (0.03) $ 0.62  $ (0.23)
Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following table represents common stock equivalents that were excluded from the computation of diluted loss per common share for the three and nine months ended September 30, 2025 and 2024 because the effect of their inclusion would be anti-dilutive:
Three Months Ended September 30,
Nine Months Ended September 30,
2025 2024 2025 2024
Warrants to purchase shares of common stock 14,166,644  14,166,644  14,166,644  14,166,644 
Options to purchase shares of common stock 3,125,177  6,526,611  3,125,177  6,526,611 
Outstanding earn-out shares (1) 1,717,303  —  1,717,303  — 
Restricted shares of common stock
 10,387,606  10,112,365  10,387,606  10,112,365 
Total potentially dilutive securities 29,396,730  30,805,620  29,396,730  30,805,620 
(1) Pursuant to the Company's acquisition of Keystone, 1,717,303 shares were issued and outstanding and transferred to an escrow agent at the close of the acquisition. While these shares are legally issued and outstanding, they are excluded from the weighted average shares outstanding calculation because they are contingently returnable based on the determination of Keystone’s 2025 final Adjusted EBITDA discussed above.