Earnings Per Share

9 Months Ended

Sep. 30, 2021

Earnings Per ShareBasic loss per share is calculated by dividing net loss attributable to AgroFresh Solutions, Inc. common stockholders by the weighted average number of common shares outstanding for the period. The Company had a loss for the three and nine months

ended September 30, 2021 and 2020. Therefore, the effects of stock-based awards including options, restricted stock, restricted stock units and warrants outstanding at September 30, 2021 and 2020, respectively, have not been included in the computation of diluted loss per share because their inclusion would have been anti-dilutive.

The following is a reconciliation of the weighted-average common shares outstanding used for the computation of basic and diluted net loss per common share:


	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands)	2021	2020	2021	2020
Basic weighted-average common shares outstanding	51,583	51,002	51,323	50,766

Effect of dilutive options, restricted stock, and restricted stock units	—	—	—	—
Diluted weighted-average shares outstanding	51,583	51,002	51,323	50,766

Securities that could potentially be dilutive are excluded from the computation of diluted loss per share when a loss from continuing operations exists, when the exercise price exceeds the average closing price of the Company's common stock during the period, or for contingently issued shares, if the contingency is not met at the end of the reporting period, because their inclusion would result in an anti-dilutive effect on per share amounts.

The following represents the weighted average number of shares that could potentially dilute basic earnings per share in the future:


	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands)	2021	2020	2021	2020
Convertible preferred stock	31,242	21,527	30,955	7,228
Stock-based compensation awards(1):
Stock options	1,446	800	1,114	804
Restricted stock awards and restricted stock units	3,790	1,811	3,214	1,079

Warrants:
Private placement warrants	—	2,076	—	4,789
Public warrants	—	3,310	—	7,636

(1) SARs and Phantom stocks are payable in cash so will therefore have no impact on number of shares.