Loss Per Share

6 Months Ended

Jul. 02, 2021

Earnings Per Share [Abstract]

LOSS PER SHARE

NOTE 9 – LOSS PER SHARE

The Atlas Business Combination was structured as a reverse capitalization by which the Company issued stock for the net assets of Atlas Intermediate accompanied by a recapitalization. Earnings per share is calculated for the Company only for periods after the Atlas Business Combination due to the reverse recapitalization.

(Loss) per share was calculated as follows:

	Three Months Ended						Six Months Ended			Closing Date Through
	July 2, 2020			June 30, 2020			July 2, 2021			June 30, 2020
Numerator:
Net (loss) income post Atlas Business Combination	$	(4,783	)	$	2,245		$	(19,574	)	$	(277	)
Provision for non-controlling interest		617			1,881			12,786			5,141
Redeemable preferred stock dividends		-			(4,533	)		(5,899	)		(6,777	)
Net (loss) attributable to Class A common shares - basic and diluted	$	(4,166	)	$	(407	)	$	(12,687	)	$	(1,913	)
Denominator:
Weighted average shares outstanding - basic and diluted		30,633,366			5,767,342			22,400,179			5,767,342
Net (loss) per Class A common share, basic and diluted	$	(0.14	)	$	(0.07	)	$	(0.57	)	$	(0.33	)

The Company had the following shares that were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive for the periods presented but could potentially dilute basic earnings per share in future periods:

	Three Months Ended June 30, 2020		Closing Date Through June 30, 2020
Public warrants		20,000,000		20,000,000
Private placement warrants		3,750,000		3,750,000
Total		23,750,000		23,750,000

The Company retired the warrants, both public and private placement, via tender offer that concluded in November 2020 and as such is not presenting information for the three or six months ended July 2, 2021.