Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) per Share

v3.21.2
Net Income (Loss) per Share
9 Months Ended
Sep. 30, 2021
Net Income (Loss) per Share  
Net Income (Loss) per Share

15. Net Income (Loss) per Share

Basic and diluted net loss per share attributable to common stockholders was calculated as follows (in thousands, except share and per share amounts):

Three Months Ended September 30, 

Nine Months Ended September 30, 

    

2021

    

2020

    

2021

    

2020

Numerator:

 

  

 

  

  

 

  

Net income (loss) attributable to common stockholders – basic

$

22,751

$

(6,262)

$

(13,375)

$

(17,796)

Change in fair value for warrant liability

(42)

Interest to convertible notes

123

Loss on extinguishment of debt

865

Change in fair value of derivative liability

(475)

Net income (loss) attributable to common stockholders – diluted

$

23,222

$

(6,262)

$

(13,375)

$

(17,796)

 

  

 

  

 

  

 

  

Denominator:

 

  

 

  

 

  

 

  

Weighted average common shares outstanding – basic

 

119,745,196

 

8,917,855

 

47,772,253

 

8,892,564

Weighted average effect of potentially dilutive securities:

Effect of potentially dilutive convertible preferred stock

14,065,012

Effect of potentially dilutive warrants

354,135

Effect of potentially dilutive stock options

19,696,440

Effect of potentially dilutive restricted stock units

6,517

Total potentially dilutive securities

34,122,104

Weighted average common shares outstanding — diluted

153,867,300

8,917,855

47,772,253

8,892,564

Net income (loss) per share attributable to common stockholders - basic

$

0.19

$

(0.70)

$

(0.28)

$

(2.00)

Net income (loss) per share attributable to common stockholders - diluted

$

0.15

$

(0.70)

$

(0.28)

$

(2.00)

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:

Three Months Ended September 30, 

Nine Months Ended September 30, 

    

2021

    

2020

    

2021

    

2020

 

Options issued and outstanding

 

1,589,357

 

18,224,891

21,285,797

 

18,224,891

Public Warrants to purchase common stock

 

14,325,000

 

14,325,000

 

Convertible preferred stock (as converted to common stock)

 

 

80,873,820

 

80,873,820

Warrants to purchase preferred stock (as converted to warrants to purchase common stock)

 

 

1,015,401

 

1,015,401

Warrants to purchase common stock

544,695

544,695

Warrants to purchase common stock (Finback)**

2,417,138

2,421,976

Unvested restricted stock units

1,664,567

1,671,084

Earn-out shares**

15,000,000

15,000,000

Contingently issuable common stock**

1,897,500

1,897,500

Convertible notes (as converted to common stock)*

 

5,408,672

 

590,625

5,408,672

 

590,625

 

42,302,234

 

101,249,432

62,010,029

 

101,249,432

* Conversion feature is only triggered upon the closing of a Qualified Financing Event

** Issuance of Earn-out shares, Contingently issuable common stock and Finback warrants are contingent upon the satisfaction of certain conditions, which were not satisfied by the end of the period