NET INCOME (LOSS) PER SHARE (Tables)

3 Months Ended

Mar. 31, 2023

NET INCOME (LOSS) PER SHARE

Schedule of computation of basic and diluted net loss per share

The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except share and per share data):

	Three months ended March 31,
	2023		2022
Net income (loss)	$	(82,551)	$	20,726
Less: income allocable to participating securities		—		(692)
Income (loss) allocable to common shares	$	(82,551)	$	20,034
Add back: undistributed earnings allocable to participating securities		—		692
Less: undistributed earnings reallocated to participating securities		—		(663)
Numerator for diluted earnings per share	$	(82,551)	$	20,063
Basic weighted average common shares outstanding		480,010,594		470,627,083
Effect of dilutive securities		—		21,165,069
Diluted weighted-average common shares outstanding		480,010,594		491,792,152
Net income (loss) per share, basic	$	(0.17)	$	0.04
Net income (loss) per share, diluted	$	(0.17)	$	0.04

Schedule of antidilutive securities

	Three months ended March 31,
	2023	2022
Outstanding Warrants	19,733,290	19,733,290
Outstanding stock options	40,263,297	21,596,206
Unvested restricted stock units	825,707	—
Earn-Out Shares	50,000,000	50,000,000
Unvested restricted stock	6,527,948	—