| Components of Basic and Diluted Loss Per Shares |
The following is a calculation of the basic and diluted earnings per share for the Company's common stock, including a reconciliation between net income attributable to common stockholders used for Basic EPS and Diluted EPS for the three and nine months ended September 30, 2025 and 2024:
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(in thousands, except share and per share data) |
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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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Basic Earnings Per Share |
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Numerator: |
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Net (loss) income used to compute basic and diluted EPS |
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$ |
(24,855 |
) |
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$ |
(14,935 |
) |
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$ |
(42,376 |
) |
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$ |
22,900 |
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Denominator: |
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Weighted average common stock outstanding, basic and diluted |
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14,376,802 |
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11,254,174 |
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13,259,124 |
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11,263,344 |
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Earnings Per Share, basic and diluted |
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$ |
(1.73 |
) |
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$ |
(1.33 |
) |
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$ |
(3.20 |
) |
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$ |
2.03 |
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| Summary of Anti Dilutive Securities Excluded from Calculations of Diluted Per Share |
Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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Anti-dilutive securities excluded from diluted loss per share: |
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2025 |
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2024 |
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2025 |
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|
2024 |
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Earnout Awards |
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1,599,591 |
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1,599,591 |
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1,599,591 |
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1,599,591 |
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Restricted stock units |
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1,241,043 |
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884,607 |
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1,241,043 |
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|
884,607 |
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2025 GPO Convertible Note/GPO Convertible Note |
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246,430 |
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|
500,930 |
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246,430 |
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|
500,930 |
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Dragonfly Seller Convertible Notes |
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112,577 |
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|
95,586 |
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112,577 |
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95,586 |
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Convertible Debentures |
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7,391,618 |
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- |
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7,391,618 |
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- |
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Stock options |
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- |
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14,207 |
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- |
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14,207 |
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Total anti-dilutive securities excluded from diluted loss per share |
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10,591,259 |
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3,094,921 |
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10,591,259 |
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3,094,921 |
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