Net (Loss) Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Summary of Computation of Basic and Diluted Net (Loss) Earnings Per Share

The following table sets forth the computation of basic and diluted net (loss) earnings per share to common stockholders:

	Three Months Ended March 31,
(in thousands, except share and per share data)	2024			2023
Basic net (loss) earnings per common share calculation:
Net (loss) income attributable to common stockholders	$	(11,506	)	$	4,758
Undistributed earnings to preferred stock stockholders		—			(4,176	)
Net (loss) income attributable to common stockholders – basic	$	(11,506	)	$	582
Weighted-average shares of common stock outstanding – basic		59,374,019			6,481,862
Net (loss) earnings per share of common stock – basic	$	(0.19	)	$	0.09
Diluted net (loss) earnings per common share calculation:
Net (loss) income attributable to common stockholders – basic	$	(11,506	)	$	582
Net (loss) income attributable to common stockholders – diluted	$	(11,506	)	$	582
Weighted-average shares of common stock outstanding – basic		59,374,019			6,481,862
Outstanding options and restricted stock units		—			3,157,720
Legacy Tigo warrants and common stock warrants		—			1,365,554
Weighted-average shares of common stock – diluted		59,374,019			11,005,136
Net (loss) earnings per share of common stock – diluted	$	(0.19	)	$	0.05

Summary of Anti-dilutive Shares Outstanding

The Company excluded the effect of the below elements from our calculation of diluted (loss) earnings per share, as their inclusion would have been anti-dilutive. These amounts represent the number of instruments outstanding at the end of the period.

	As of March 31,
	2024		2023
Common stock warrants		—		177,076
Outstanding stock options and restricted stock units		1,694,503		318,969
Convertible promissory note		5,305,437		5,454,548
		6,999,940		5,950,593