Net Income (Loss) Attributable to Common Shareholders

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net Income (Loss) Attributable to Common Shareholders

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)	2022		2021		2020
Net income (loss) available to common stockholders - basic	$	44,384	$	(375,108)	$	(29,175)
Less: Income on Private placement warrants	(78,343)		—		—
Net loss available to common stockholders - diluted	$	(33,959)	$	(375,108)	$	(29,175)
Weighted average common shares outstanding - basic	147,554,090		102,114,949		34,293,271
Effect of dilutive shares:
Private placement warrants	952,222		—		—
Weighted average common shares outstanding - diluted	148,506,312		102,114,949		34,293,271
Basic net income (loss) per share:	$	0.30	$	(3.67)	$	(0.85)
Diluted net income (loss) per share	$	(0.23)	$	(3.67)	$	(0.85)

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,
	2022	2021	2020
Convertible Notes	23,614,425	23,614,425	—
RSUs	2,580,152	380,775	—
PSUs	2,500,126	975,000	—
Stock Options	5,601,770	6,785,020	542

The Company performed analysis of the average of the daily volume-weighted average price of our Class A Common Stock since the transaction date and has determined, as of December 31, 2022, that the potential final settlement of shares of Class A Common Stock under the November 9, 2022 accelerated share repurchase agreement is anti-dilutive and therefore excluded from the calculation of diluted earnings per share.