Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share

Schedule of potential dilutive common shares

	At June 30,
	2022	2021
Stock options outstanding (1)	24,184,619	9,165,066
Restricted stock outstanding (2)	5,616,280	6,511,808
Common stock warrants (3)	80,017,181	83,518,821
Convertible Senior Notes (4)	39,170,766	39,170,766
Number of dilutive potential shares of common stock	148,988,846	138,366,461

(1) During the three months ended June 30, 2022 and 2021, the Company granted options for 308,351 and 117,500 shares of common stock, respectively. During the six months ended June 30, 2022 and 2021, the Company granted options for 759,851 and 698,500 shares of common stock, respectively.

(2) During the three months ended June 30, 2022 and 2021, the Company granted 323,991 and 98,000 restricted shares of common stock, respectively. During the six months ended June 30, 2022 and 2021, the Company granted 1,126,491 and 653,000 restricted shares of common stock, respectively.

(3) In April 2017, the Company issued a warrant to acquire up to 55,286,696 shares of the Company’s common stock as part of a transaction agreement with Amazon, subject to certain vesting events, as described in Note 12, “Warrant Transaction Agreements.”  The warrant had been exercised with respect to 17,461,994 and 13,960,354 shares of the Company’s common stock as of June 30, 2022 and 2021, respectively.  

In July 2017, the Company issued a warrant to acquire up to 55,286,696 shares of the Company’s common stock as part of a transaction agreement with Walmart, subject to certain vesting events, as described in Note 12, “Warrant Transaction Agreements.” The warrant had been exercised with respect to 13,094,217 shares of the Company’s common stock as of June 30, 2022 and 2021.

(4) In March 2018, the Company issued $100.0 million in aggregate principal amount of the 5.5% Convertible Senior Notes due 2023 (the “5.5% Convertible Senior Notes”).  In May 2020, the Company repurchased $66.3 million of the 5.5% Convertible Senior Notes and in the fourth quarter of 2020, $33.5 million of the 5.5% Convertible Senior Notes were converted into approximately 14.6 million shares of common stock. The remaining $0.2 million aggregate principal amount of the 5.5% Convertible Senior Notes were converted into 69,808 shares of common stock in January 2021. In September 2019, the Company issued $40.0 million in aggregate principal amount of the 7.5% Convertible Senior Note due 2023 (the “7.5% Convertible Senior Note”), which was fully converted into 16.0 million shares of common stock on July 1, 2020. In May 2020, the Company issued $212.5 million in aggregate principal amount of the 3.75% Convertible Senior Notes.  There were no conversions for the three and six months ended June 30, 2022. There were no conversations for the three months ended June 30, 2021. For the six months ended June 30, 2021, $15.2 million of the 3.75% Convertible Senior Notes were converted, resulting in the issuance of 3,016,036 shares of common stock.