Net Income (Loss) Attributable to Common Stockholders

12 Months Ended

Dec. 31, 2023

Net Income (Loss) Attributable to Common Stockholders

The following table sets forth the calculation of both basic and diluted net income (loss) per share as follows for the periods indicated:


	Year Ended December 31,
(in thousands, except share and per share amounts)		2023		2022		2021
Net (loss) income available to common stockholders - basic		$	(100,116)	$	44,224	$	(378,764)
Less: Income on Private placement warrants		—		(78,343)		—
Net loss available to common stockholders - diluted		$	(100,116)	$	(34,119)	$	(378,764)

Weighted average common shares outstanding - basic		131,680,605		147,554,090		102,114,949
Effect of dilutive shares:



Private placement warrants		—		952,222		—
Weighted average common shares outstanding - diluted		131,680,605		148,506,312		102,114,949

Basic net (loss) income per share:		$	(0.76)	$	0.30	$	(3.71)
Diluted net (loss) per share		$	(0.76)	$	(0.23)	$	(3.71)

The following shares have been excluded from the calculation of the weighted average diluted shares outstanding as the effect would have been anti-dilutive or requisite performance conditions were not met:


	Year Ended December 31,
		2023	2022	2021
Convertible Notes		23,614,425	23,614,425	23,614,425
RSUs		5,242,680	2,580,152	380,775
PSUs		1,306,558	2,500,126	975,000
Stock Options		3,732,420	5,601,770	6,785,020

In addition, the potential final settlement of shares related to the November 9, 2022 accelerated share repurchase agreement was excluded from the calculation of the weighted average diluted shares outstanding for the year ended December 31, 2022 as the effect would have been anti-dilutive. For the years ended December 31, 2023 and 2021, income and shares related to the Private Placement Warrants were excluded from the calculation of diluted net loss per common share because their effect would be antidilutive.