Why am I not able to summarise a column in a report?

I am trying to summarise a column in a report. The column is a Text/Number formula that says 'Late' if an enquiry is late. I just want it to count how many late there are but Smartsheet isn't letting me. Often the option to summarise this column isn't there but if I remove and add it again, the option appears but it doesn't work (see below). Any ideas?

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