Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share

Schedule of potential dilutive common shares

	At September 30,
	2023	2022
Stock options outstanding (1)	35,463,759	25,549,257
Restricted stock and restricted stock units outstanding (2)	7,261,132	3,737,292
Common stock warrants (3)	78,561,263	96,017,181
Convertible senior notes (4)	39,170,766	39,170,766
Number of dilutive potential shares of common stock	160,456,920	164,474,496

(1) During the three months ended September 30, 2023 and 2022, the Company granted options for 2,255,096 and 1,838,123 shares of common stock, respectively. During the nine months ended September 30, 2023 and 2022, the Company granted options for 9,131,689 and 2,597,974 shares of common stock, respectively.

(2) During the three months ended September 30, 2023 and 2022, the Company granted 3,217,700 and 349,661 shares of restricted stock and restricted stock units, respectively. During the nine months ended September 30, 2023 and 2022, the Company granted 3,606,393 and 1,476,152 shares of restricted stock and restricted stock units, respectively.

(3) In August 2022, the Company issued a warrant to acquire up to 16,000,000 shares of the Company’s common stock as part of a transaction agreement with Amazon.com, Inc. (“Amazon”), subject to certain vesting events, as described in Note 12, “Warrant Transaction Agreements.”  The warrant had not been exercised as of September 30, 2023.  

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 34,917,912 and 17,461,994 shares of the Company’s common stock as of September 30, 2023 and 2022, 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, Inc. (“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 September 30, 2023 and 2022, respectively.

(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 May 2020, the Company issued $212.5 million in aggregate principal amount of the 3.75% Convertible Senior Notes due 2025 (the “3.75% Convertible Senior Notes”). There were no conversions of the 3.75% Convertible Senior Notes for the three and nine months ended September 30, 2023 and 2022.