Net Loss Attributable to Common Stockholders

9 Months Ended

Sep. 30, 2024

Net Loss Attributable to Common Stockholders

The following table sets forth the calculation of both basic and diluted net loss per share as follows for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except share and per share amounts)	2024		2023		2024		2023
Net loss available to common stockholders - basic	$	(18,291)	$	(73,818)	$	(18,768)	$	(90,713)
Adjustments related to the Notes (1)	—		—		(25,186)		—
Net loss available to common stockholders - diluted	$	(18,291)	$	(73,818)	$	(43,954)	$	(90,713)

Weighted average common stock outstanding - basic	124,057,602		132,896,626		123,630,811		132,679,547
Effect of dilutive shares:
Notes	—		—		19,036,398		—
Weighted average common stock outstanding - diluted	124,057,602		132,896,626		142,667,209		132,679,547

Basic net loss per share:	$	(0.15)	$	(0.56)	$	(0.15)	$	(0.68)
Dilutive net loss per share:	$	(0.15)	$	(0.56)	$	(0.31)	$	(0.68)

(1) For the nine months ended September 30, 2024, the adjustments related to the Notes include the net gain on repurchase offset by interest expense and amortization of debt issuance costs related to the Company’s Notes (net of taxes).

The following shares have been excluded from the calculation of the weighted average diluted shares outstanding as the effect would have been anti-dilutive:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Notes	17,559,686	23,614,425	—	23,614,425
Restricted Stock Units	7,827,861	4,471,807	7,827,861	4,471,807
Stock Options	3,571,820	3,776,720	3,571,820	3,776,720
Performance-based Restricted Stock Units	2,302,162	1,890,862	2,302,162	1,890,862

For the three and nine months ended September 30, 2024 and 2023, income and shares related to the Private Placement Warrants were excluded from the calculation of diluted net loss per share of Class A Common Stock because their effect would be anti-dilutive.