First Quarter 2023 Results

Operating Results

Net loss attributable to common stockholders was $204.5 million, or $(5.44) per diluted share, which included unrealized loss of $207.1 million predominantly due to changes in fair value on potential earn-out consideration due to increased stock price as of March 31, 2023. The earn-out consideration would be paid in common shares upon reaching certain stock price hurdles. The Company is required to record the fair value of this earn-out as derivative liabilities on the consolidated balance sheets. The net loss at March 31, 2023, is compared to net income of $17.0 million, or $0.46 per diluted share during the first quarter 2022.