NET INCOME (LOSS) PER SHARE

9 Months Ended

Sep. 30, 2023

NOTE 20—NET INCOME (LOSS) PER SHARE

The following table sets forth the computation of basic and diluted net income (loss) attributable to Class A and Class B common stockholders per share (in thousands except per share data):


	Three Months Ended September 30, 2023				Three Months Ended September 30, 2022

	Class A		Class B			Class A		Class B
Numerator

Net income attributable to common stockholders – basic	$	3,331	$	469		$	3,175	$	454
Potential dilutive effect of derivative instruments	16		(16)			21		(21)
Net income attributable to common stockholders – diluted	$	3,347	$	453		$	3,196	$	433
Denominator
Weighted average shares of common stock outstanding - basic	116,893		16,458			112,873		16,159
Potential dilutive effect of stock options	2,773		1,391			8,206		1,371
Potential dilutive effect of restricted stock units	12,140		—			8,311		—
Weighted average shares of common stock outstanding - diluted	131,806		17,849			129,390		17,530
Net income attributable to common stockholders per share
Basic	$	0.03	$	0.03		$	0.03	$	0.03
Diluted	$	0.03	$	0.03		$	0.02	$	0.02


	Nine Months Ended September 30, 2023				Nine Months Ended September 30, 2022

	Class A		Class B			Class A		Class B
Numerator

Net income (loss) attributable to common stockholders – basic	$	413	$	58		$	(14,045)	$	(2,035)
Potential dilutive effect of derivative instruments	2		(2)			—		—
Net income (loss) attributable to common stockholders – diluted	$	415	$	56		$	(14,045)	$	(2,035)
Denominator
Weighted average shares of common stock outstanding - basic	116,088		16,458			111,389		16,140
Potential dilutive effect of derivative instruments	2,816		1,409			—		—
Potential dilutive effect of restricted stock units	12,140		—			—		—
Weighted average shares of common stock outstanding - diluted	131,044		17,867			111,389		16,140
Net income (loss) attributable to common stockholders per share
Basic	$	0.00	$	0.00		$	(0.13)	$	(0.13)
Diluted	$	0.00	$	0.00		$	(0.13)	$	(0.13)

For the periods presented above, the net income (loss) per share amounts are the same for Class A and Class B common stock because the holders of each class are entitled to equal per share dividends or distributions in liquidation in accordance with the Certificate of Incorporation. The undistributed earnings (losses) for each period are allocated based on the contractual participation rights of the Class A and Class B common stock as if the earnings (losses) for the period had been distributed. As the liquidation and dividend rights are identical, the undistributed earnings (losses) are allocated on a proportionate basis.

The following equity awards outstanding at the end of each period presented have been excluded from the computation of diluted net income (loss) per share of common stock for the periods presented due to their anti-dilutive effect:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Stock options	128	133	100	12,262
Restricted stock units	—	—	—	8,311
Public Warrants	5,382	5,382	5,382	5,382
Private Warrants	3,822	3,821	3,822	3,821
Earnout Shares	15,000	15,000	15,000	15,000
	24,332	24,336	24,304	44,776