v3.25.1
Earnings (Loss) Per Share
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Earnings Per Share [Abstract]    
Earnings (Loss) Per Share
3.
Earnings (Loss) Per Share

The Company computes basic earnings (loss) per share using net loss attributable to Company common stockholders and the weighted average number of common shares outstanding during each period. As the Company has obligations under the Penny Warrants to issue shares for little or no cash consideration contingent only upon the passage of time (see Note 18 "Warrant Liabilities" for a description of the Penny Warrants), weighted average shares issuable under the Penny Warrants are included in the denominator in the calculation of basic and diluted EPS.

The following table sets forth the computation of the Company’s basic and diluted net (loss) income per share:

 

 

Three Months Ended March 31,

 

 

Three Months Ended March 31,

 

 

2025

 

 

2024

 

Numerator:

 

 

 

 

 

 

Net loss

 

$

(23,047

)

 

$

(32,990

)

Less: Net loss attributable to redeemable noncontrolling interests

 

 

(17,558

)

 

 

(21,699

)

Less: Net loss attributable to noncontrolling interests

 

 

(40

)

 

 

(5,450

)

Add: Series A Preferred Dividends

 

 

(1,007

)

 

 

(285

)

Add: Series B Preferred Dividends

 

 

(992

)

 

 

—

 

Basic Net loss attributable to common stockholders

 

$

(7,448

)

 

$

(6,126

)

Denominator:

 

 

 

 

 

 

Weighted Average Class A Common Stock outstanding

 

 

18,732,919

 

 

 

16,920,382

 

Weighted Average Class A Common Stock issuable under Series A Penny Warrants

 

 

1,282,742

 

 

 

385,338

 

Weighted Average Class A Common Stock issuable under Series B Penny Warrants

 

 

5,140,900

 

 

 

—

 

Weighted Average Shares Outstanding - basic and diluted

 

 

25,156,561

 

 

 

17,305,720

 

Basic and Diluted Earnings (Loss) Per Share

 

 

 

 

 

 

Basic

 

$

(0.30

)

 

$

(0.35

)

Diluted

 

$

(0.30

)

 

$

(0.35

)

 

The following table summarizes potentially dilutive outstanding securities for the three months ended March 31, 2025 which were excluded from the calculation of diluted EPS, because their effect would have been anti-dilutive:

 

Public warrants

 

 

2,519,869

 

Private Placement Warrants

 

 

4,333,333

 

Penny Warrants

 

 

1,304,742

 

Total anti-dilutive features

 

 

8,157,944

 
3.
Earnings (Loss) Per Share

The Company computes basic earnings (loss) per share using net loss attributable to Company common stockholders and the weighted average number of common shares outstanding during each period. As the Company has obligations under the Penny Warrants to issue shares for little or no cash consideration contingent only upon the passage of time (see Note 18 "Warrant Liabilities" for a description of the Penny Warrants), weighted average shares issuable under the Penny Warrants are included in the denominator in the calculation of basic and diluted EPS.

The following table sets forth the computation of the Company’s basic and diluted net (loss) income per share:

 

 

 

 

Year Ended

 

 

 

 

December 31, 2024

 

Numerator:

 

 

 

 

Net loss

 

$

(101,495)

 

Less: Net loss attributable to redeemable noncontrolling interests

 

 

(73,384)

 

Less: Net loss attributable to noncontrolling interests

 

 

(7,037)

 

Add: Series A Preferred Dividends

 

 

(3,258)

 

Add: Series B Preferred Dividends

 

 

(1,233)

 

Basic Net loss attributable to common stockholders

 

$

(25,565)

 

 

 

 

 

 

Denominator:

 

 

 

 

Weighted Average Class A Common Stock outstanding

 

 

17,757,741

 

Weighted Average Class A Common Stock issuable under Series A Penny Warrants

 

 

1,051,749

 

Weighted Average Class A Common Stock issuable under Series B Penny Warrants

 

 

5,000,000

 

Weighted Average Shares Outstanding - basic and diluted

 

 

23,809,490

 

 

 

 

 

 

Basic and Diluted Earnings Loss Per Share

 

 

 

 

Basic

 

$

(1.07)

 

Diluted

 

$

(1.07)

 

 

The following table summarizes potentially dilutive outstanding securities for the year ended December 31, 2024 which were excluded from the calculation of diluted EPS, because their effect would have been anti-dilutive:

 

Public warrants

 

 

2,519,869

 

Private Placement Warrants

 

 

4,333,333

 

Penny Warrants

 

 

1,274,742

 

Total anti-dilutive features

 

 

8,127,944