| Schedule of Earnings Per Share Basic and Diluted Attributable to Common Stockholders |
The computation of net (loss) income per share and weighted average Class A common stock outstanding for the period presented is as follows:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2025 |
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2024 |
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2025 |
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2024 |
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Numerator: |
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Net (loss) income |
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$ |
(19,676 |
) |
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$ |
(12,473 |
) |
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$ |
76,399 |
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$ |
(54,576 |
) |
Income allocated to participating Securities Purchase Agreement Warrants |
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— |
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— |
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(225 |
) |
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— |
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Basic net (loss) income attributable to common stockholders |
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(19,676 |
) |
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(12,473 |
) |
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76,174 |
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(54,576 |
) |
Removal of mark-to-market adjustment for 2022 Blue Torch Warrants |
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— |
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— |
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(1,472 |
) |
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— |
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Removal of mark-to-market adjustment for 2023 Blue Torch Warrants |
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— |
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— |
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(2,136 |
) |
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— |
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Adjustment to income allocated to participating Securities Purchase Agreement Warrants |
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— |
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— |
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49 |
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— |
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Dilutive net (loss) income attributable to common stockholders |
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$ |
(19,676 |
) |
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$ |
(12,473 |
) |
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$ |
72,615 |
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$ |
(54,576 |
) |
Denominator: |
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Weighted-average Class A common stock outstanding - basic |
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32,501,417 |
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24,921,585 |
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30,249,828 |
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23,745,015 |
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Effect of dilutive securities: |
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Stock Options |
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— |
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— |
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104,837 |
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— |
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RSUs |
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— |
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— |
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745,212 |
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— |
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2022 Blue Torch Warrants |
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— |
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— |
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131,119 |
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— |
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2023 Blue Torch Warrants |
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— |
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— |
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179,140 |
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— |
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Weighted-average Class A common stock outstanding - diluted |
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32,501,417 |
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24,921,585 |
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31,410,136 |
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23,745,015 |
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Class A common stock: |
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Net (loss) income per share - basic |
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$ |
(0.61 |
) |
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$ |
(0.50 |
) |
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$ |
2.52 |
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$ |
(2.30 |
) |
Net (loss) income per share - diluted |
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$ |
(0.61 |
) |
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$ |
(0.50 |
) |
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$ |
2.31 |
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$ |
(2.30 |
) |
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The following securities were not included in the computation of diluted net (loss) income per share because their effect would be anti-dilutive or the issuance of such shares is contingent upon the satisfaction of certain conditions that were not met by the end of the period:
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2025 |
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2024 |
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Stock options |
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1,612,985 |
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2,001,787 |
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RSUs, PSUs, and Potential ESPP Shares |
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2,502,966 |
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2,889,872 |
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Credit Agreement Warrants |
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24,834 |
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1,058,940 |
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Contingent Earnout Shares |
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912,600 |
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— |
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5,053,385 |
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5,950,599 |
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