Net Loss per Common Share

3 Months Ended

Mar. 31, 2023

Basic and diluted net loss per common share was calculated as follows:


	Three Months Ended March 31,
	2023		2022
Numerator:
Net income (loss)	$	(81,966)	$	13,706
Less: Net income (loss) attributable to noncontrolling interest	(9,220)		2,873


Net income attributable to common stockholders - basic	$	(72,746)	$	10,833



Net loss attributable to common shares - dilutive	$	(72,746)	$	10,833

Denominator:
Weighted average shares outstanding - basic	131,490,221		111,189,340

Effect of potentially dilutive Phantom Units	—		1,083,749
Effect of potentially dilutive Class V common stock	—		29,386,392
Effect of potentially dilutive unvested Class B units	—		4,391,072
Effect of potentially dilutive unexercised options	—		1,346,219
Weighted average common shares outstanding—diluted	131,490,221		147,396,772

Net loss per share attributable to common shares— basic	$	(0.55)	$	0.10
Net loss per share attributable to common shares— diluted	$	(0.55)	$	0.07

The Company’s potentially dilutive securities, which include unvested Class B units, unvested phantom units, unvested restricted stock units, convertible Class V common shares, warrants for Class A units (public and private), unexercised options, earn-out shares and escrow shares, have been excluded from the computation of diluted net income per share as the effect would be to reduce the net income per share. The Company excluded the following potential shares, presented based on amounts outstanding at each period end, from the computation of diluted net income per share attributable to shareholders for the periods indicated as their inclusion would have had an antidilutive effect:


	Three Months Ended March 31,
	2023	2022
Unvested Class B units	647,674	—
Unvested Phantom units	658,637	—
Unvested Restricted stock units	11,728,606	—
Convertible Class V common shares	19,829,945	—
Public warrants for the purchase of Class A common shares	17,250,000	17,250,000
Private warrants for the purchase of Class A common shares	10,150,000	10,150,000
Unexercised options	218,642	313,050
Earn-out Shares	5,000,000	5,000,000
Escrow Shares	1,725,000	1,725,000
Convertible debt into Class A common shares	18,497,110	—
	85,705,614	34,438,050