Net Income (Loss) Per Common Share

12 Months Ended

Dec. 31, 2024


NOTE 16. Net Income (Loss) Per Common Share

Basic net income (loss) per common share (“EPS”) is computed based upon the weighted average number of common shares outstanding. Diluted net income (loss) per common share is computed based upon the weighted average number of common shares outstanding plus the impact of common shares issuable from the assumed conversion of stock options, certain performance RSUs and unvested RSUs. Only those instruments having a dilutive impact on basic loss per share are included in diluted loss per share during the periods presented.

The following table illustrates the computation of basic and diluted EPS (in thousands, except per share amounts):


	Year Ended December 31,
	2024		2023		2022
Numerator
Income (loss) from continuing operations	$	(250,277)	$	(195,253)	$	(92,310)
Noncontrolling interests’ share in (earnings) loss from continuing operations	(50)		207		311
Net income (loss) attributable to common stockholders before discontinued operations	(250,327)		(195,046)		(91,999)
Income (loss) from discontinued operations	(9,824)		(67,550)		(14,554)
Net income (loss) attributable to common stockholders	$	(260,151)	$	(262,596)	$	(106,553)
Denominator
Weighted average shares outstanding, basic and diluted	410,966		408,917		408,154
Net income (loss) per share attributable to common stockholders
Net income (loss) per common share from continuing operations, basic and diluted	$	(0.61)	$	(0.48)	$	(0.22)
Net income (loss) per common share from discontinued operations, basic and diluted	$	(0.02)	$	(0.16)	$	(0.04)

Basic net income (loss) per share is the same as diluted net income (loss) per share for the years ended December 31, 2024, 2023, and 2022 as the inclusion of all potential common shares outstanding would have been anti-dilutive. The following table provides the potential shares of common stock that were excluded from the calculation of

diluted net income (loss) per share attributable to common stockholders because their effect would have been anti-dilutive (in thousands):


	December 31,
	2024	2023	2022
Stock options - service only condition	9,163	9,430	10,638
Stock options - market and performance condition(1)	6,962	7,826	9,167
Restricted stock units	17,858	10,065	7,282

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(1)Market and performance conditions were satisfied during 2021.