Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Computation of Basic and Diluted Income (Loss) Per Share

The following table presents the computation of the basic and diluted loss per share of Class A Common Stock (in thousands, except share data):


	Three Months Ended March 31,
		2026		2025
Numerator
Net income (loss)		$	(52,528)	$	975
Less: Net income (loss) attributable to redeemable noncontrolling interest		(15,484)		11,909
Less: Net income attributable to noncontrolling interest		343		462
Net loss attributable to the Company		(37,387)		(11,396)
Less: Cumulative preferred dividends		(162)		(147)
Net loss attributable to Class A common shareholders		$	(37,549)	$	(11,543)
Denominator
Basic and diluted weighted-average shares of Class A common stock outstanding		147,878,006		107,081,918





Net loss per share of Class A common stock - basic and diluted		$	(0.25)	$	(0.11)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table presents potentially dilutive securities, as of the end of the periods, excluded from the computation of diluted net loss per share of Class A Common Stock as their effect would be anti-dilutive, their exercise price was out-of-the-money, or because of unsatisfied contingent issuance conditions.


	Three Months Ended March 31,
		2026	2025
RSU and RSS awards(1)		5,060,387	3,214,513
Options(1)		748,357	923,173
Series A Preferred Stock(2)		2,224,832	2,014,443
Warrants (Conversion Warrants and Preferred Investor Warrants)(1)		4,857,302	4,857,302

Escrow Shares(3)		316,491	—
Convertible Notes(2)		26,310,770	—

(1) Represents number of instruments outstanding at the end of the period that were evaluated under the treasury stock method for potentially dilutive effects and were determined to be anti-dilutive. The number of 2023 Plan awards outstanding at the three months ended March 31, 2026 consists of 4,871,075 unvested RSU and RSS awards and 189,312 vested RSUs with elected deferrals of the issuance of Class A common stock.

(2) Represents number of instruments outstanding as converted at the end of the period that were evaluated under the if-converted method for potentially dilutive effects and were determined to be anti-dilutive.

(3) Represents the number of escrow shares outstanding at the end of the period due to unsatisfied contingent issuance conditions and were determined to be anti-dilutive.