Net Loss Per Share

6 Months Ended

12 Months Ended

Jun. 30, 2022

Dec. 31, 2021

Earnings Per Share [Abstract]

Net Loss Per Share

(17) Net Loss Per Share

The unaudited basic and diluted net loss per share for the three and six months ended June 30, 2021 has been computed to give effect to the conversion of shares of Legacy Quanergy convertible preferred stock into shares of Legacy Quanergy common stock as though the conversion had occurred as of the beginning of the period.

The following table sets forth the computation of the basic and diluted net loss per share attributable to common stockholders for the three and six months ended June 30, 2022 and 2021, respectively (in thousands, except share and per share data):

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Numerator:
Net loss attributable to common stockholder, basic and diluted	$	(25,674	)	$	(20,467	)	$	(130,356	)	$	(35,181	)
Denominator:
Weighted average shares of common stock outstanding, basic and diluted		5,893,244			3,355,598			5,143,419			3,254,849
Net loss per share attributable to common stockholder, basic and diluted	$	(4.36	)	$	(6.10	)	$	(25.34	)	$	(10.81	)

Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods as the inclusion of all potential common shares outstanding would be anti-dilutive.

The following table presents the potential common shares outstanding that were excluded from the computation of diluted net loss per share of common stock as of the periods presented because including them would be anti-dilutive:

	As of June 30,
	2022		2021
Public warrants		689,999		—
Private placement warrants		376,000		—
GEM warrants		169,896		—
Stock options and RSUs issued and outstanding		621,196		508,406
Contingently returnable shares from GEM Agreement		133,859		—
Convertible notes		—		65,758
Potential common shares excluded from diluted net loss per share		1,990,950		574,164

(17) Basic and Diluted Net Loss Per Share

The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders for the years ended December 31, 2021 and 2020 (in thousands, except share and per share amounts):

	For the Years Ended December 31,
	2021			2020
Numerator:
Net loss attributable to common stockholder, basic and diluted	$	(63,544	)	$	(35,835	)
Denominator:
Weighted average shares of common stock outstanding, basic and diluted		3,246,946			2,862,390
Net loss per share attributable to common stockholder, basic and diluted	$	(19.57	)	$	(12.52	)

Basic and diluted net loss per share attributable to common stockholders is the same for the years ended December 31, 2021 and 2020 because the inclusion of potential shares of common stock would have been anti-dilutive for the periods presented.

The following table presents the potential common shares outstanding that were excluded from the computation of diluted net loss per share of common stock as of the periods presented because including them would have been antidilutive:

	As of December 31,
	2021		2020
Stock options and RSUs issued and outstanding		762,642		508,211
Convertible notes		457,484		106,193
Potential common shares excluded from diluted net loss per share		1,220,126		614,404

The above tables exclude Sensata warrants totaling 125,000 which are exercisable upon a contingent event which is the Closing as defined in the Merger Agreement (per Note 1) into the new Quanergy shares.