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EARNINGS (LOSS) PER SHARE | 3 Months Ended
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Mar. 31, 2025
Earnings Per Share [Abstract] |
EARNINGS (LOSS) PER SHARE | EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share of Class A common stock and Class D common stock is computed using the two-class method by dividing net earnings (loss) allocated to common stockholders by the weighted-average number of shares of Class A common stock and Class D common stock, respectively, outstanding during the period. Diluted earnings (loss) per share of Class A common stock and Class D common stock is computed using the two-class method by dividing net earnings (loss) allocated to common stockholders by the weighted-average number of shares of Class A common stock and Class D common stock, respectively, outstanding adjusted to give effect to potentially dilutive securities. Diluted EPS was computed using the treasury stock method for Class A RSUs, non-qualified stock options, and ESPP shares and the if-converted method for Class C common stock. During the first quarter of 2024, the Company discontinued the ESPP Plan. There was no Class B common stock outstanding during the three months ended March 31, 2025 and 2024. The following table sets forth the calculation of basic and diluted loss per share for Class A common stock and Class D common stock:
| Three Months Ended |  |
| March 31, 2025 |  |
| Class A |  | Class D |  | Total |  |  |  |  |  |
Net loss allocated to common stockholders | $ | (11,316) |  |  | $ | (10,580) |  |  | $ | (21,896) |  |  |  |  |  |  |
Weighted average shares - basic | 103,765,899 |  |  | 97,026,671 |  |  | 200,792,570 |  |  |  |  |  |  |
Earnings (loss) per share - basic | $ | (0.11) |  |  | $ | (0.11) |  |  | $ | (0.11) |  |  |  |  |  |  |
Weighted average shares - diluted | 103,765,899 |  |  | 97,026,671 |  |  | 200,792,570 |  |  |  |  |  |  |
Earnings (loss) per share - diluted | $ | (0.11) |  |  | $ | (0.11) |  |  | $ | (0.11) |  |  |  |  |  |  |
| Three Months Ended |  |
| March 31, 2024 |  |
| Class A |  | Class D |  | Total |  |  |  |  |  |
Net loss allocated to common stockholders | $ | (15,934) |  |  | $ | (18,321) |  |  | $ | (34,255) |  |  |  |  |  |  |
Weighted average shares - basic | 84,380,682 |  |  | 97,026,671 |  |  | 181,407,353 |  |  |  |  |  |  |
Loss per share - basic | $ | (0.19) |  |  | $ | (0.19) |  |  | $ | (0.19) |  |  |  |  |  |  |
Diluted loss per share: |  |  |  |  |  |  |  |  |  |  |
Net loss allocated to common shareholders - diluted | $ | (43,283) |  |  | $ | (18,447) |  |  | $ | (61,730) |  |  |  |  |  |  |
Weighted average shares - diluted | 227,652,419 |  |  | 97,026,671 |  |  | 324,679,090 |  |  |  |  |  |  |
Loss per share - diluted | $ | (0.19) |  |  | $ | (0.19) |  |  | $ | (0.19) |  |  |  |  |  |  |
The potential dilutive effect of the exchange of Class C common stock for Class A common stock is evaluated under the if-converted method. Reallocation of net income or loss attributable to the dilutive impact of the exchange of Class C common stock for Class A common stock was tax-effected using the combined federal and state rate (less federal benefit) of 26.1% and 26.2% for the three months ended March 31, 2025 and 2024, respectively. The potential dilutive effect of stock options, restricted stock units, and ESPP shares is evaluated under the treasury stock method. The following table summarizes the shares that were anti-dilutive and excluded from the computation of diluted earnings (loss) per share for the presented periods.
| Three Months Ended |  |
| March 31, 2025 |  | March 31, 2024 |  |  |  |
Class C common stock | 127,290,603 |  |  | — |  |  |  |  |
Stock options, restricted stock units, ESPP shares(1) | 9,318,547 |  |  | 14,906,683 |  |  |  |  |
Total | 136,609,150 |  |  | 14,906,683 |  |  |  |  |
(1)Stock options, restricted stock units, and ESPP shares are weighted for the portion of the period for which they were outstanding.

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