EPS

12 Months Ended

Dec. 31, 2023


16.	EPS

The dilutive effect of outstanding stock options and warrants is calculated using the treasury stock method. Stock options and warrants are anti-dilutive and excluded from the diluted net income per share attributable to common stock calculation if the exercise price exceeds the average market price of the common shares.

The following table sets forth the computation of EPS attributable to common stockholders, basic and diluted (in thousands, except share and per share data):


	Year Ended December 31,
	2023			2022
Numerator:
Net (loss) income from operations	$	(85,480	)	$	4,314
Less: Allocation of undistributed earnings to noncontrolling interest		7,453			2,012
Net (loss) income attributable to common stockholders - basic and diluted	$	(92,933	)	$	2,302

Denominator:
Basic common shares outstanding:
Weighted average common shares outstanding		65,831,675			63,588,119
Weighted average shares used in calculating net (loss) income per share attributable to common stockholders, basic		65,831,675			63,588,119

Dilutive potential common shares:
Weighted average of common stock options		—			12,098,287
Weighted average shares used in calculating net (loss) income per share attributable to common stockholders, diluted		65,831,675			75,686,406

Net (loss) income per share attributable to common stockholders:
Basic	$	(1.41	)	$	0.04
Diluted	$	(1.41	)	$	0.03

Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:


	December 31,
	2023
Options to purchase common stock		18,280,548
Convertible Preferred stock (as converted)		8,767,332
Preferred Stock Warrants (as converted)		540,666
Total		27,588,546