Basic and Diluted Net Loss per Share

3 Months Ended

Mar. 31, 2023

The Company uses the two-class method to calculate net loss per share. No dividends were declared or paid for the three months ended March 31, 2023 and 2022. Undistributed earnings for each period are allocated equally to participating securities based on the contractual participation rights of the security to share in the current earnings as if all current period earnings had been distributed. The Company’s basic net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average shares of common stock outstanding during periods with undistributed losses.

The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders for the three months ended March 31 (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2023				2022
	Class A		Class V		Class A		Class V
Numerator:
Net loss attributable to common stockholders	$	(9,660)	$	(407)	$	(15,580)	$	(672)
Denominator:
Weighted average shares outstanding, basic and diluted	198,762,675		8,377,623		194,318,347		8,377,623
Basic and diluted net loss per share	$	(0.05)	$	(0.05)	$	(0.08)	$	(0.08)

Basic net loss per share is the same as diluted net loss per share attributable to common stockholders for the three months ended March 31, 2023 and 2022, because the inclusion of potential shares of common stock would have been anti-dilutive for the periods presented.

The following table discloses weighted-average securities that were not included in the computation of diluted net loss per share as their inclusion would have been anti-dilutive:


	Three Months Ended March 31,
		2023	2022
Stock options		21,549,957	17,685,246
RSUs		13,334,746	5,366,963
Common stock issued subject to vesting		1,441,632	2,395,670
Common stock issuable under the ESPP		874,287	444,828
Warrants to purchase Class A common stock		561,058	561,058
2023 PRSUs		384,300	—
Common stock issued for early exercise of stock options		—	103,521