Basic and Diluted Net Loss Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Basic and Diluted Net Loss Per Share

Schedule of earnings per share, basic and diluted


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Net loss used to compute net loss per share:
Basic	$	(86,391)	$	(5,099)	$	(118,564)	$	(86,497)
Adjustment for change in fair value of warrant liability		—		(2,692)		—		—
Diluted	$	(86,391)	$	(7,791)	$	(118,564)	$	(86,497)

Denominator:
Weighted average shares outstanding used to compute loss per share:
Basic		97,792,485		96,839,292		97,009,351		92,544,137
Dilutive effect of warrants		—		706,650		—		—
Diluted		97,792,485		97,545,942		97,009,351		92,544,137

Loss per share - basic	$	(0.88)	$	(0.05)	$	(1.22)	$	(0.93)
Loss per share - diluted	$	(0.88)	$	(0.08)	$	(1.22)	$	(0.93)

Schedule of antidilutive securities excluded from computation of earnings per share


	Three Months Ended September 30,		Nine Months Ended September 30,
	2022	2021	2022	2021
Stock options	4,149,394	5,131,615	4,149,394	5,131,615
Restricted stock units and awards	5,193,177	984,135	5,193,177	984,135
Performance restricted stock units	1,825,719	—	1,825,719	—
Public and private warrants	1,795,700	—	1,795,700	—
Earnout shares	2,050,000	4,099,999	2,050,000	4,099,999
Convertible debt⁽¹⁾	16,998,130	16,998,130	16,998,130	16,998,130

⁽¹⁾ In connection with the September 16, 2021 issuance of the 2026 Notes, the Company used a portion of the proceeds to pay for the capped call transactions, which are expected to generally reduce the potential dilution to the Company’s common stock. The capped call transactions impact the number of shares that may be issued by effectively increasing the conversion price for the Company from $25 per share to approximately $37.74 per share, which would result in 11,261,261 potentially dilutive shares instead of the shares reported in this table as of September 30, 2022.