| Net Income (Loss) per Share |
Net Income (Loss) per Share Basic net income (loss) per share is calculated by dividing net income attributable to common stockholders by the weighted average shares outstanding during the period. Diluted net income (loss) per share is calculated by adjusting weighted average shares outstanding for the dilutive effect of potential common shares, determined using the treasury stock method. Basic and diluted net income (loss) per share attributable to common stockholders are calculated as follows (in thousands, except share and per share amounts):
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Numerator: |
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| Net Income (loss) |
$ |
5,999 |
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$ |
(18,615) |
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$ |
(89,364) |
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$ |
(58,102) |
| Reallocation of net income attributable to participating securities |
(74) |
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— |
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— |
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— |
| Net income (loss) attributable to common stockholders – basic and diluted |
$ |
5,925 |
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$ |
(18,615) |
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$ |
(89,364) |
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$ |
(58,102) |
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| Denominator: |
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| Weighted average common shares outstanding – basic |
150,206,893 |
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144,117,273 |
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148,521,299 |
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143,522,555 |
| Weighted average effect of potentially dilutive securities: |
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| Stock options |
16,528,407 |
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— |
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— |
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— |
| Restricted stock units |
6,674,985 |
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— |
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— |
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— |
| Performance stock units |
356,780 |
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— |
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— |
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— |
| Finback Common Stock Warrants |
209,310 |
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— |
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— |
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— |
| Total potentially dilutive securities |
23,769,482 |
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— |
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— |
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— |
| Weighted average common shares outstanding — diluted |
173,976,375 |
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144,117,273 |
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148,521,299 |
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143,522,555 |
| Net income (loss) per share attributable to common stockholders - basic |
$ |
0.04 |
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$ |
(0.13) |
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$ |
(0.60) |
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$ |
(0.40) |
| Net income (loss) per share attributable to common stockholders - diluted |
$ |
0.03 |
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$ |
(0.13) |
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$ |
(0.60) |
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$ |
(0.40) |
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The following potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share attributable to common stockholders because their effect would have been anti-dilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period:
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Options issued and outstanding |
— |
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21,027,840 |
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21,063,044 |
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21,027,840 |
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| Public Warrants to purchase common stock |
14,324,893 |
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14,324,994 |
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14,324,893 |
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14,324,994 |
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| Warrants to purchase common stock (Finback)** |
1,317,327 |
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2,421,200 |
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1,590,984 |
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2,421,200 |
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| Unvested restricted stock units |
397,771 |
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7,336,179 |
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12,097,108 |
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7,336,179 |
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| Unvested performance stock units |
— |
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889,000 |
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386,000 |
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889,000 |
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| Earn-out shares* |
15,000,000 |
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15,000,000 |
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15,000,000 |
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15,000,000 |
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| Contingently issuable common stock* |
1,897,500 |
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1,897,500 |
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1,897,500 |
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1,897,500 |
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32,937,491 |
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62,896,713 |
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66,359,529 |
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62,896,713 |
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*Issuance of Earn-out shares and Contingently issuable common stock is contingent upon the satisfaction of certain conditions, which were not satisfied by the end of the period
**Includes 273,657 vested warrants and 1,317,327 unvested warrants as of September 30, 2023
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