Net Loss Per Share

3 Months Ended

Mar. 31, 2023

NET LOSS PER SHAREThe following table sets forth the computation of net loss per common share:


	Three Months Ended March 31,
	2023		2022
Net loss per share
Numerator
Net loss	$	(9,114)	$	(6,039)

Denominator
Denominator for basic net loss per weighted average common shares	99,328,542		97,873,452







Net loss per common share
Basic	$	(0.09)	$	(0.06)
Diluted	$	(0.09)	$	(0.06)

As discussed in Note 7, the Company issued a warrant to purchase up to 2,000,000 shares of the Company common stock at an exercise price of $0.01 per share, which vests upon the earliest to occur of September 6, 2023 or a Change of Control. In addition, under the terms of the Credit Agreement, the Company may be required to grant an additional 2,000,000 shares of common stock at the same exercise price under the warrant agreement if any amount of the principal balance of the Term Loan remains outstanding upon the earlier to occur of (i) December 5, 2023, (ii) an Acquisition of the Company, and (iii) an Event of Default occurs under the Credit Agreement prior to December 5, 2023. If issued, such shares will become vested upon the first to occur of (i) three months after the grant date or (ii) an Acquisition of the Company. The warrant was considered exercisable for 2,000,000 shares for little to no consideration and the shares are therefore included in basic shares outstanding at their issuance date. The additional 2,000,000 warrants were excluded as the contingency associated with their issuance has not been met.

The Company’s potentially dilutive securities, which include unvested RSUs, stock options to purchase common stock and warrants to purchase common stock, have been excluded from the computation of diluted net loss per share for certain periods, as the effect would be antidilutive. Therefore, the weighted-average number of common shares outstanding used to calculate both basic and diluted net loss per share is the same in periods of a net loss. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect:


	Three Months Ended March 31,
	2023	2022
Public warrants	12,500,000	12,500,000
Private warrants	332,500	332,500
Stock options	8,414,082	8,442,265
Unvested restricted stock units	4,847,409	6,274,361
Issuance of common stock upon exercise of warrants	2,000,000	—
Total common stock equivalents	28,093,991	27,549,126