Three Months Ended September 30,

Nine Months Ended September 30,

(in thousands, except share and per share data)

2024

2023

2024

2023

Basic net (loss) earnings per common share calculation:

Net (loss) income attributable to common stockholders

$

(13,117

)

$

29,056

$

(35,944

)

$

10,391

Undistributed earnings to preferred stock stockholders

—

—

—

(4,574

)

Net (loss) income attributable to common stockholders – basic

$

(13,117

)

$

29,056

$

(35,944

)

$

5,817

Weighted-average shares of common stock outstanding – basic

60,608,934

58,408,441

60,130,249

31,070,476

Net (loss) earnings per share of common stock – basic

$

(0.22

)

$

0.50

$

(0.60

)

$

0.19

Diluted net (loss) earnings per common share calculation:

Net (loss) income attributable to common stockholders

$

(13,117

)

$

29,056

$

(35,944

)

$

10,391

Reverse: interest expense and change in fair value on derivative liability

—

(47,623

)

—

(7,196

)

Net (loss) income attributable to common stockholders - diluted

(13,117

)

(18,567

)

(35,944

)

3,195

Undistributed earnings to preferred stock stockholders

—

—

—

(1,406

)

Net (loss) income attributable to common stockholders – diluted

(13,117

)

(18,567

)

(35,944

)

1,789

Weighted-average shares of common stock outstanding – basic

60,608,934

58,408,441

60,130,249

31,070,476

Outstanding options and restricted stock units

—

3,727,831

—

3,472,940

Legacy Tigo warrants and common stock warrants

—

927,049

—

813,569

Convertible promissory note

—

5,305,437

—

5,130,532

Weighted-average shares of common stock – diluted

60,608,934

68,368,758

60,130,249

40,487,517

Net (loss) earnings per share of common stock – diluted

$

(0.22

)

$

(0.27

)

$

(0.60

)

$

0.04