Net Loss per Common Share

6 Months Ended

Jun. 30, 2023

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator:
Net income (loss)	$	(13,563)	$	(5,304)	$	(95,529)	$	8,402
Less: Net income (loss) attributable to noncontrolling interest	(436)		(1,070)		(9,656)		1,803


Net income (loss) attributable to common stockholders - basic	$	(13,127)	$	(4,234)	$	(85,873)	$	6,599



Net income (loss) attributable to common shares - dilutive	$	(13,127)	$	(4,234)	$	(85,873)	$	6,599

Denominator:
Weighted average shares outstanding - basic	141,973,731		116,983,265		136,760,936		114,102,308

Effect of potentially dilutive Phantom Units	—		—		—		1,064,688
Effect of potentially dilutive Class V common stock	—		—		—		28,925,854
Effect of potentially dilutive unvested Class B units	—		—		—		5,310,003
Effect of potentially dilutive unexercised options	—		—		—		1,337,802
Weighted average common shares outstanding—diluted	141,973,731		116,983,265		136,760,936		150,740,655

Net income (loss) per share attributable to common shares— basic	$	(0.09)	$	(0.04)	$	(0.63)	$	0.06
Net income (loss) per share attributable to common shares— diluted	$	(0.09)	$	(0.04)	$	(0.63)	$	0.04

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, escrow shares and convertible debt 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 June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Unvested Class B units	546,570	—	546,570	—
Unvested Phantom units	635,007	1,060,119	635,007	—
Unvested Restricted stock units	12,532,935	5,070,412	12,532,935	—
Convertible Class V common shares	18,994,332	26,382,703	18,994,332	—
Public warrants for the purchase of Class A common shares	17,250,000	17,250,000	17,250,000	17,250,000
Private warrants for the purchase of Class A common shares	10,150,000	10,150,000	10,150,000	10,150,000
Unexercised options	269,668	368,875	269,668	368,875
Earn-out Shares	5,000,000	5,000,000	5,000,000	5,000,000
Escrow Shares	1,725,000	1,725,000	1,725,000	1,725,000
Convertible debt into Class A common shares	18,497,110	—	18,497,110	—
	85,600,622	67,007,109	85,600,622	34,493,875