Note 17 - Loss Per Share

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

17. Loss Per Share

Basic loss per share available to the Company common stockholders (“EPS”) is computed by dividing net loss by the weighted average number of common shares outstanding for the period. In computing diluted EPS, the Company adjusts the denominator, subject to anti-dilution requirements, to include the dilution from potential shares of common stock resulting from outstanding share based payment awards, warrants, earn-outs and the conversion of convertible preferred shares. The Company’s Sponsor Earn-Out Shares described in “Note 11 — Mezzanine Equity and Stockholders’ Equity” are considered participating securities and have no contractual obligation to shares in the loss of the Company. As such, the weighted-average impact of these shares is excluded from the calculation of loss per share below. As losses were incurred during all periods presented, no earnings per share exists for the Sponsor Earn-Out Shares.

	Three Months Ended March 31,
	2024			2023
	(in thousands, except per share amounts)
Loss per share available to common shareholders, excluding sponsor earn-out shareholders
Numerator:
Net loss	$	(1,954	)	$	(9,182	)
Net (loss) income attributable to noncontrolling interest		(238	)		15
Total net loss available to common shareholders	$	(1,716	)	$	(9,197	)
Denominator:
Weighted average common shares outstanding		181,495			182,818
Effect of dilutive securities		—			—
Weighted average diluted shares		181,495			182,818
Basic and diluted loss per share available to common shareholders, excluding sponsor earn-out shareholders	$	(0.01	)	$	(0.05	)

To arrive at net loss available to common stockholders, the Company deducted net (loss) income attributable to the redeemable noncontrolling interest.

For the three months ended March 31, 2024 and 2023, the Company’s potentially dilutive securities were deemed to be anti-dilutive given the Company’s net loss position. As such, basic loss per share is equal to diluted loss per share for the periods presented.

The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding because such securities have an antidilutive impact due to losses reported:

	March 31,
	2024		2023
	(in thousands)
Stock options		26,813		29,437
RSUs		12,394		13,246
Warrants		17,905		17,905
Company Earn-Outs		3,000		3,000
Total potentially dilutive securities		60,112		63,588