Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2023


	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands, except per share data)	2023		2022		2023		2022
Numerator:
Net income (loss) attributable to UpHealth, Inc.	$	(20,605)	$	(165,762)	$	(47,815)	$	(195,645)
Denominator:
Weighted average shares outstanding	18,428		14,842		17,459		14,588
Diluted effect of stock options	—		—		—		—
Diluted effect of RSUs	—		—		—		—
Weighted average shares outstanding assuming dilution	18,428		14,842		17,459		14,588
Net income (loss) per share attributable to UpHealth, Inc.:
Basic	$	(1.12)	$	(11.17)	$	(2.74)	$	(13.41)
Diluted	$	(1.12)	$	(11.17)	$	(2.74)	$	(13.41)

The calculation of basic and dilutive earnings per share included the following:


	Three Months Ended September 30,		Nine Months Ended September 30,
(In thousands, except per share data)	2023	2022	2023	2022
Pre-funded warrants with an exercise price of $0.0001(1)	701	—	701	—

(1) The pre-funded warrants are included in the calculation of basic and dilutive earnings per share, as the shares are issuable for little consideration.

Schedule of Calculation of Basic and Dilutive Earning Per Share

The calculation of basic and dilutive earnings per share excluded the following because the effect would be anti-dilutive:


	Three Months Ended September 30,		Nine Months Ended September 30,
(In thousands, except per share data)	2023	2022	2023	2022
2021 Public, Private and PIPE Warrants at a $115.00 per share conversion price	1,812	1,812	1,812	1,812
2023 Private Placement Series A and B Warrants at a $2.04 per share conversion price	6,000	—	6,000	—
Stock options	54	142	54	142
Restricted stock units	1,912	1,007	1,912	1,007
2025 Notes at a $17.50 per share conversion price(2)	3,857	3,857	3,857	3,857
2026 Notes at a $106.50 per share conversion price	1,080	1,080	1,080	1,080
Forward share purchase agreement	—	—	—	170

(2) Subject to the occurrence of certain corporate events.