Net Loss per Common Share

3 Months Ended

Mar. 31, 2024

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 March 31,
	2024		2023
Numerator:
Net loss	$	(34,223)	$	(81,966)
Less: Net loss attributable to noncontrolling interest	(3,044)		(9,220)
Net loss attributable to common stockholders — basic	$	(31,179)	$	(72,746)
Net loss attributable to common shares — dilutive	$	(31,179)	$	(72,746)
Denominator:
Weighted average shares outstanding — basic	164,602,608		131,490,221
Weighted average common shares outstanding—diluted	164,602,608		131,490,221
Net loss per share attributable to common shares— basic	$	(0.19)	$	(0.55)
Net loss per share attributable to common shares— diluted	$	(0.19)	$	(0.55)

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 loss per share as the effect would be to reduce the net loss per share. For the three months ended March 31, 2024 and 2023, the weighted average number of shares outstanding used to calculate both basic and diluted net loss per share attributable to common shares is the same because the Company reported a net loss for each of these periods and the effect of inclusion would be antidilutive. The Company excluded the following potential shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to shareholders for the periods indicated as their inclusion would have had an antidilutive effect:

	Three Months Ended March 31,
	2024	2023
Unvested Class B units	34,752	647,674
Unvested Phantom units	276,267	658,637
Unvested Restricted stock units	15,533,889	11,728,606
Convertible Class V common shares	18,594,332	19,829,945
Public warrants for the purchase of Class A common shares	—	17,250,000
Private warrants for the purchase of Class A common shares	—	10,150,000
Unexercised options	159,750	218,642
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	18,497,110
	59,821,100	85,705,614