| Net Loss Per Share |
Net Loss Per Share
The following table sets forth the computation of basic and diluted net loss per share (in thousands, except unit/share and per unit/share amounts, unaudited):
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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| Net loss |
$ |
(8,652) |
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$ |
(1,238) |
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$ |
(8,792) |
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$ |
(23,595) |
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| Less: Net loss attributable to non-controlling interest |
(5,307) |
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(752) |
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(5,329) |
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(14,893) |
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| Net loss attributable to Class A Common Stock, basic and diluted |
$ |
(3,345) |
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$ |
(486) |
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$ |
(3,463) |
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$ |
(8,702) |
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| Weighted-average shares of Class A Common Stock outstanding, basic and diluted |
11,986,604 |
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10,799,479 |
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11,771,326 |
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8,862,574 |
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| Net loss per share attributable to Class A common stockholders, basic and diluted |
$ |
(0.28) |
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$ |
(0.05) |
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$ |
(0.29) |
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$ |
(0.98) |
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We excluded the following potentially dilutive securities, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to Class A Common Shareholders because including them would have had an antidilutive effect:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
| Stock Options |
846,545 |
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772,249 |
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846,545 |
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772,249 |
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| Common Units |
13,045,498 |
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13,388,969 |
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13,045,498 |
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13,388,969 |
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| RSUs |
695,240 |
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412,418 |
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695,240 |
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412,418 |
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| PSUs |
1,075,938 |
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846,241 |
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1,075,938 |
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846,241 |
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| Incentive Units (Share Equivalents) |
122,185 |
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122,185 |
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122,185 |
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122,185 |
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| Employee Stock Purchase Plan |
7,540 |
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8,166 |
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7,540 |
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8,166 |
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| Total units excluded from computation of diluted net loss per share |
15,792,946 |
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15,550,228 |
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15,792,946 |
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15,550,228 |
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