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18. Net Income (Loss) Per Share
Basic net income (loss) per share is computed by dividing total net income (loss) by the weighted average common shares outstanding for the period. In computing diluted net income (loss) per share, the Company adjusts the denominator, subject to anti-dilution requirements, to include the dilution from potential shares of common stock resulting from outstanding share-based payment awards and warrants.
| | | Three Months Ended March 31, | |
| | | 2025 | | | 2024 | |
| | | (in thousands, except per share amounts) | |
| Net income (loss) per share available to common stockholders, excluding sponsor earn-out stockholders | | | | | | | | |
| Numerator: | | | | | | | | |
| Net income (loss) | | $ | 3,566 | | | $ | (1,954 | ) |
| Net (income) loss attributable to noncontrolling interest | | | (126 | ) | | | 238 | |
| Total net income (loss) available to common stockholders | | $ | 3,440 | | | $ | (1,716 | ) |
| Denominator: | | | | | | | | |
| Weighted average common shares outstanding | | | 197,924 | | | | 181,495 | |
| Effect of dilutive securities | | | | | | | | |
| Stock options | | | 16,789 | | | | — | |
| RSUs | | | 6,284 | | | | — | |
| Warrants | | | 3,576 | | | | — | |
| Weighted average diluted shares | | | 224,573 | | | | 181,495 | |
| | | | | | | | | |
| Basic net income (loss) per share available to common stockholders, excluding sponsor earn-out stockholders | | $ | 0.02 | | | $ | (0.01 | ) |
| Diluted net income (loss) per share available to common stockholders, excluding sponsor earn-out stockholders | | $ | 0.02 | | | $ | (0.01 | ) |
The below table includes the total potentially dilutive securities for the three months ending March 31, 2025 and 2024, which have been excluded from the computation of diluted net income (loss) per share as their effect is anti-dilutive:
| | | Three Months Ended March 31, | |
| | | 2025 | | | 2024 | |
| | | (in thousands) | |
| Stock options | | | 20 | | | | 26,813 | |
| RSUs | | | — | | | | 12,394 | |
| Warrants | | | — | | | | 17,905 | |
| Earn-out shares | | | — | | | | 3,000 | |
| Total | | | 20 | | | | 60,112 | |
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