Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2024

15. Earnings (Loss) per Share

The following table provides the computation of net loss per share and weighted average shares of the Company’s common stock outstanding during the periods presented (in thousands, except share and per share amount):


	Three Months Ended March 31,
	2024			2023
Net loss	$	(30,965	)	$	(22,799	)
Basic and diluted weighted average common stock outstanding		96,675,724			92,308,288
Basic and diluted net loss per share	$	(0.32	)	$	(0.25	)

Since the Company was in a loss position for the period ended March 31, 2024 and 2023, basic net loss per share was the same as diluted net loss per share for the period presented.

The following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period (in whole shares):


	Three Months Ended March 31,
	2024		2023
Stock options and restricted stock units outstanding(1)		101,148,169		12,957,947
Private Warrants		4,616,667		4,616,667
Public Warrants		12,175,000		5,175,000
Shares for Mudrick Convertible Notes		19,001,500		15,218,000
Mudrick Note Warrants		—		7,000,000
Shares for Mudrick PIK Notes		1,884,782		—
Total		138,826,118		44,967,614

(1)

Balances are inclusive of the common stock options legally exercised in exchange of the nonrecourse promissory notes.