Net Loss per Common Share

6 Months Ended

Jun. 30, 2024

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Numerator:
Net loss	$	(21,000)	$	(13,563)	$	(55,223)	$	(95,529)
Less: Net loss attributable to noncontrolling interest	(1,840)		(436)		(4,884)		(9,656)


Net loss attributable to common stockholders — basic	$	(19,160)	$	(13,127)	$	(50,339)	$	(85,873)



Net loss attributable to common shares — dilutive	$	(19,160)	$	(13,127)	$	(50,339)	$	(85,873)

Denominator:
Weighted average shares outstanding — basic	170,164,241		141,973,731		167,384,295		136,760,936





Weighted average common shares outstanding—diluted	170,164,241		141,973,731		167,384,295		136,760,936

Net loss per share attributable to common shares— basic	$	(0.11)	$	(0.09)	$	(0.30)	$	(0.63)
Net loss per share attributable to common shares— diluted	$	(0.11)	$	(0.09)	$	(0.30)	$	(0.63)

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 and six months ended June 30, 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 June 30,		Six Months Ended June 30,
	2024	2023	2024	2023
Unvested Class B units	8,688	546,570	8,688	546,570
Unvested Phantom units	228,310	635,007	228,310	635,007
Unvested Restricted stock units	18,993,761	12,532,935	18,993,761	12,532,935
Convertible Class V common shares	18,044,332	18,994,332	18,044,332	18,994,332
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	150,228	269,668	150,228	269,668
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	18,497,110	18,497,110
	62,647,429	85,600,622	62,647,429	85,600,622