Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2022

Basic income (loss) per share applicable to common stockholders is computed by dividing earnings applicable to common stockholders by the weighted-average number of common shares outstanding. Diluted income (loss) per share assumes the conversion of any convertible securities using the treasury stock method or the if-converted method.


	Three Months Ended March 31,
(In thousands, except per share data)	2022		2021
Numerator:
Net loss attributable to UpHealth, Inc.	$	(17,445)	$	(2,949)
Denominator:
Weighted average shares outstanding(1)	144,539		7,089
Weighted average shares outstanding assuming dilution	144,539		7,089
Net loss per share attributable to UpHealth, Inc.:
Basic	$	(0.12)	$	(0.42)
Diluted	$	(0.12)	$	(0.42)

(1) The shares and earnings per share available to our common stock holders, prior to the Business Combinations, have been recast to reflect the exchange ratio established in the Business Combinations (1.0 UpHealth Holdings share to 10.28 GigCapital2 share). See Note 3, Business Combinations, for more information.

For the three months ended March 31, 2022, the calculation of dilutive earnings per share excluded outstanding warrants to purchase 18.1 million shares of common stock at $11.50 per share; 0.2 million of stock options; senior convertible notes, convertible into 15.0 million shares of common stock at $10.65 per share; and 1.7 million shares of common stock under the terms of the forward share purchase agreement, because the effect would be anti-dilutive.