Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
(In thousands, except per share data)	2022		2021		2022		2021
Numerator:
Net loss attributable to UpHealth, Inc.	$	(12,438)	$	(32,783)	$	(29,883)	$	(35,732)
Denominator:
Weighted average shares outstanding(1)	144,624		94,170		144,581		83,585
Weighted average shares outstanding assuming dilution	144,624		94,170		144,581		83,585
Net loss per share attributable to UpHealth, Inc.:
Basic	$	(0.09)	$	(0.35)	$	(0.21)	$	(0.43)
Diluted	$	(0.09)	$	(0.35)	$	(0.21)	$	(0.43)

(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 June 30, 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; and senior convertible notes, convertible into 15.0 million shares of common stock at $10.65 per share, because the effect would be anti-dilutive. For the six months ended June 30, 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 and convertible into 15.0 million shares of common stock at $10.65 per share; and 1.7 million shares of treasury stock acquired under the terms of the forward share purchase agreement, because the effect would be anti-dilutive.