Net Loss per Common Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Net Loss per Common Share

Net Loss per Common Share

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Numerator:
Net loss	$	(18,677)	$	(45,432)	$	(114,206)	$	(37,030)
Less: Net loss attributable to noncontrolling interest	(1,580)		(7,825)		(11,236)		(6,022)
Net loss attributable to common stockholders - basic	$	(17,097)	$	(37,607)	$	(102,970)	$	(31,008)
Net loss attributable to common shares - dilutive	$	(17,097)	$	(37,607)	$	(102,970)	$	(31,008)
Denominator:
Weighted average shares outstanding - basic	146,962,717		120,507,152		140,198,899		116,272,459
Weighted average common shares outstanding—diluted	146,962,717		120,507,152		140,198,899		116,272,459
Net loss per share attributable to common shares— basic	$	(0.12)	$	(0.31)	$	(0.73)	$	(0.27)
Net loss per share attributable to common shares— diluted	$	(0.12)	$	(0.31)	$	(0.73)	$	(0.27)

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 September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Unvested Class B units	108,536	—	108,536	—
Unvested Phantom units	574,194	1,060,119	574,194	1,060,119
Unvested Restricted stock units	15,014,021	8,248,983	15,014,021	8,248,983
Convertible Class V common shares	18,994,332	23,749,676	18,994,332	23,749,676
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	210,093	368,875	210,093	368,875
Earn-out Shares	5,000,000	5,262,657	5,000,000	5,262,657
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	—
	87,523,286	67,815,310	87,523,286	67,815,310