| Schedule of Loss per Share |
The computation for the basic and diluted loss per share for the three and six months ended June 30, 2026 and 2025 are as follows:
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Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
(in thousands, except per share data) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Numerator: |
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|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(142,219 |
) |
|
$ |
(144,240 |
) |
|
$ |
(175,660 |
) |
|
$ |
(135,408 |
) |
Less: Dividends accumulated on Series B Convertible
Perpetual Preferred Stock |
|
|
5,526 |
|
|
|
583 |
|
|
|
10,839 |
|
|
|
583 |
|
Basic net loss attributable to common
stockholders |
|
$ |
(147,745 |
) |
|
$ |
(144,823 |
) |
|
$ |
(186,499 |
) |
|
$ |
(135,991 |
) |
Diluted net loss attributable to common
stockholders |
|
$ |
(147,745 |
) |
|
$ |
(144,823 |
) |
|
$ |
(186,499 |
) |
|
$ |
(135,991 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Denominator: |
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|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding,
basic |
|
|
184,240 |
|
|
|
179,666 |
|
|
|
182,369 |
|
|
|
178,493 |
|
Weighted average common shares outstanding,
dilutive |
|
|
184,240 |
|
|
|
179,666 |
|
|
|
182,369 |
|
|
|
178,493 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share attributable to common
stockholders, basic |
|
$ |
(0.80 |
) |
|
$ |
(0.81 |
) |
|
$ |
(1.02 |
) |
|
$ |
(0.76 |
) |
Net loss per share attributable to common
stockholders, diluted |
|
$ |
(0.80 |
) |
|
$ |
(0.81 |
) |
|
$ |
(1.02 |
) |
|
$ |
(0.76 |
) |
|
| Summary of Outstanding Common Stock Equivalents |
A summary of those outstanding Common Stock equivalents is presented in the following table:
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|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
(in thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Anti-dilutive shares |
|
|
|
|
|
|
|
|
|
|
|
|
Warrants |
|
|
31,714 |
|
|
|
31,841 |
|
|
|
31,714 |
|
|
|
31,841 |
|
Stock options |
|
|
1,612 |
|
|
|
1,489 |
|
|
|
1,612 |
|
|
|
1,489 |
|
RSUs |
|
|
2,533 |
|
|
|
3,418 |
|
|
|
2,533 |
|
|
|
3,418 |
|
PSUs |
|
|
616 |
|
|
|
940 |
|
|
|
616 |
|
|
|
940 |
|
Contingently - issuable shares to Legacy PCT
unitholders (1) |
|
|
2,000 |
|
|
|
2,000 |
|
|
|
2,000 |
|
|
|
2,000 |
|
Shares issuable upon conversion of Convertible Senior
Notes |
|
|
25,939 |
|
|
|
— |
|
|
|
25,939 |
|
|
|
— |
|
Shares issuable upon conversion of Green Convertible
Notes |
|
|
2,292 |
|
|
|
16,869 |
|
|
|
2,292 |
|
|
|
16,869 |
|
Shares issuable upon conversion of Series B
Convertible Perpetual Preferred Stock |
|
|
22,978 |
|
|
|
21,440 |
|
|
|
22,978 |
|
|
|
21,440 |
|
Total anti-dilutive shares |
|
|
89,684 |
|
|
|
77,997 |
|
|
|
89,684 |
|
|
|
77,997 |
|
__________ (1) In connection with the initial business combination and merger agreement as described in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, legacy PCT unitholders will be entitled to 2.0 million shares upon the Ironton Facility becoming operational, as certified by Leidos Engineering, LLC, an independent engineering firm, in accordance with criteria established in agreements in connection with construction of the plant.
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