For the Year Ended December 31,

(in thousands, except per share data)

2024

2023

Numerator:

Net loss

$

(14,798

)

$

(7,017

)

Less: Preferred equity return on Fortress preferred equity

(12,643

)

(14,641

)

Less: Preferred equity accretion to redemption value

(5,061

)

(3,247

)

Less: Preferred OP units return

(595

)

(483

)

Plus: Net loss attributable to noncontrolling interest

4,246

3,924

Net loss attributable to common stockholders

$

(28,851

)

$

(21,464

)

Denominator

Basic weighted-average common shares

35,997

35,608

Dilutive potential common shares

—

—

Diluted weighted-average common shares

35,997

35,608

Net loss per common share- basic and diluted

$

(0.80

)

$

(0.60

)