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Earnings (Loss) per Share (Tables)
6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted The following tables set forth the computation of our earnings (loss) per share:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(5.2

)

 

$

(8.5

)

 

$

1.1

 

 

$

(12.1

)

Net income (loss) attributable to common stockholders for basic and diluted EPS

 

$

(5.2

)

 

$

(8.5

)

 

$

1.1

 

 

$

(12.1

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average common shares outstanding

 

 

77,653,610

 

 

 

70,947,868

 

 

 

75,617,785

 

 

 

70,898,813

 

Dilutive effect of assumed vesting of RSUs and PRSUs

 

 

-

 

 

 

-

 

 

 

388,030

 

 

 

-

 

Dilutive effect of Class A and Class C earnout shares

 

 

-

 

 

 

-

 

 

 

1,022,504

 

 

 

-

 

Diluted weighted average common shares outstanding

 

 

77,653,610

 

 

 

70,947,868

 

 

 

77,028,319

 

 

 

70,898,813

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per share attributable to common stockholders

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.07

)

 

$

(0.12

)

 

$

0.01

 

 

$

(0.17

)

Diluted

 

$

(0.07

)

 

$

(0.12

)

 

$

0.01

 

 

$

(0.17

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Two-class method:

 

 

 

 

 

 

 

 

 

 

 

 

Class A Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average common shares outstanding

 

 

74,673,332

 

 

 

64,436,575

 

 

 

70,968,631

 

 

 

64,387,520

 

Dilutive effect of assumed vesting of RSUs and PRSUs

 

 

-

 

 

 

-

 

 

 

388,030

 

 

 

-

 

Dilutive effect of Class A earnout shares

 

 

-

 

 

 

-

 

 

 

935,627

 

 

 

-

 

Diluted weighted average common shares outstanding

 

 

74,673,332

 

 

 

64,436,575

 

 

 

72,292,288

 

 

 

64,387,520

 

Proportionate share of net income (loss)

 

$

(5.0

)

 

$

(7.7

)

 

$

1.0

 

 

$

(11.0

)

Class A – basic earnings (loss) per share

 

$

(0.07

)

 

$

(0.12

)

 

$

0.01

 

 

$

(0.17

)

Class A – diluted earnings (loss) per share

 

$

(0.07

)

 

$

(0.12

)

 

$

0.01

 

 

$

(0.17

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Class C Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average common shares outstanding

 

 

2,980,278

 

 

 

6,511,293

 

 

 

4,649,154

 

 

 

6,511,293

 

Dilutive effect of assumed vesting of RSUs and PRSUs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Dilutive effect of Class C earnout shares

 

 

-

 

 

 

-

 

 

 

86,877

 

 

 

-

 

Diluted weighted average common shares outstanding

 

 

2,980,278

 

 

 

6,511,293

 

 

 

4,736,031

 

 

 

6,511,293

 

Proportionate share of net income (loss)

 

$

(0.2

)

 

$

(0.8

)

 

$

0.1

 

 

$

(1.1

)

Class C – basic earnings (loss) per share

 

$

(0.07

)

 

$

(0.12

)

 

$

0.02

 

 

$

(0.17

)

Class C – diluted earnings (loss) per share

 

$

(0.07

)

 

$

(0.12

)

 

$

0.02

 

 

$

(0.17

)

 

Schedule of Antidilutive Securities Excluded from Computation of Earnings The following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive or because milestones were not yet achieved for awards contingent on the achievement of performance milestones:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Warrants on common stock

 

 

-

 

 

 

20,108,744

 

 

 

-

 

 

 

20,108,744

 

RSUs and PRSUs

 

 

1,887,894

 

 

 

1,185,547

 

 

 

782,288

 

 

 

874,508

 

Total antidilutive securities

 

 

1,887,894

 

 

 

21,294,291

 

 

 

782,288

 

 

 

20,983,252