Earnings per Share

6 Months Ended

Jun. 30, 2020

4. Earnings Per Share

During the three and six months ended June 30, 2020, basic and diluted net loss per common share are the same since the inclusion of the assumed exchange of all limited liability company interests of Hawk Parent (the “Post-Merger Repay Units”), unvested restricted share awards and all warrants would have been anti-dilutive.

The following table summarizes net loss attributable to the Company and the weighted average basic and basic and diluted shares outstanding:

	For the Three Months Ended June 30, 2020			For the Six Months Ended June 30, 2020
Loss before income tax expense	$	(20,427,326	)	$	(27,827,361	)
Less: Net loss attributable to non-controlling interests		(3,903,059	)		(6,755,458	)
Income tax benefit		3,896,626			5,012,218
Net loss attributable to the Company	$	(12,627,641	)	$	(16,059,685	)

Weighted average shares of Class A common stock outstanding - basic and diluted		41,775,128			39,699,841

Loss per share of Class A common stock outstanding - basic and diluted	$	(0.30	)	$	(0.40	)

For the three and six months ended June 30, 2020, the following common stock equivalent shares were excluded from the computation of the diluted loss per share, since their inclusion would have been anti-dilutive:

Post-Merger Repay Units exchangeable for Class A common stock	24,305,623	24,305,623
Dilutive warrants exercisable for Class A common stock	1,758,145	1,758,145
Unvested restricted share awards of Class A common stock	2,899,272	2,899,272
Share equivalents excluded from earnings (loss) per share	28,963,040	28,963,040

Shares of the Company’s Class V common stock do not participate in the earnings or losses of the Company and, therefore, are not participating securities. As such, separate presentation of basic and diluted earnings per share of Class V common stock under the two-class method has not been presented.