Net Loss Per Share of Class A Common Stock

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Net (Loss)/Income Per Share of Class A Common Stock

12. Net Loss Per Share of Class A Common Stock

The following table includes the calculation of basic and diluted net (loss) income per share:

	Three Months Ended March 31,
	2022		2021
	(in thousands except per share information)
Loss from continuing operations	$	(19,988)	$	(168,556)
(Loss) gain from discontinued operation	—		—
Net loss available to common stockholders	$	(19,988)	$	(168,556)
Basic and diluted net loss per share - continuing operations	$	(0.17)	$	(0.70)
Basic and diluted net (loss) income per share - discontinued operations	—		—
Basic and diluted net loss per share	$	(0.17)	$	(0.70)
Shares used in the computation of basic and diluted net loss per share	115,479		242,289

The potentially dilutive securities listed below were not included in the calculation of diluted weighted average common shares outstanding, as their effect would have been anti-dilutive during the three months ended March 31, 2022 and 2021. BlackSky’s Form S-1 registration statement filed with the SEC registered approximately 24.1 million shares underlying the Public Warrants and Private Placement Warrants outlined below, which equates to less than 16% of the total fully diluted outstanding common shares of BlackSky. While the Public Warrants and certain of the Private Placement Warrants are now exercisable, the exercise prices (of either $11.50 per share or $20 per share, depending on the class of warrant) both currently exceed the trading price for BlackSky’s common stock. Shares issued to Legacy BlackSky stockholders as part of the Merger consideration remain locked up pursuant to BlackSky’s bylaws.

	Three Months Ended March 31,
	2022	2021
	(in thousands)
Restricted class A common stock	207	709
Restricted stock units	7,106	8,899
Common Stock warrants	1,770	11,216
Public Warrants (exercisable for class A common stock) treated as liability	15,813	—
Private Placement Warrants (exercisable for class A common stock) treated as liability	8,325	—
Sponsor earn-out shares	2,372	—
Stock options	4,607	2,945
2021 Convertible Bridge Notes as converted into common stock	—	7,429
Class A common stock warrants (exercisable for common stock) treated as liability	—	3,875
Common stock issuable for consent fees treated as a liability	—	311
Series B preferred stock warrants	—	96
Series C preferred stock warrants	—	18