Net Income (Loss) per Share

3 Months Ended

12 Months Ended

Mar. 31, 2023

Dec. 31, 2022

Earnings Per Share [Abstract]

Net Income (Loss) per Share

14. Net Income (Loss) per Share

The following table presents the reconciliation of net income (loss) to net loss used in computing basic and diluted net income (loss) per share of Common Stock attributable to common stockholders:

	March 31, 2023			March 31, 2022
Net income (loss) used in computing basic net income (loss) per share of Common Stock attributable to common stockholders	$	6,487		$	(153,098	)
Less: Dilutive impact of SPA Warrants		(11,897	)		-
Less: Dilutive impact of conversion of SPA notes and settlement of make-whole provisions		(59,331	)		-
Net loss used in computing diluted net loss per share of Common Stock attributable to common stockholders	$	(64,741	)	$	(153,098	)

The following table presents the reconciliation of basic to diluted weighted average shares used in computing net income/(loss) per share of Common Stock attributable to common stockholders. In computing the weighted average shares using the “if-converted” method in accordance with ASC 260-10, Earning per Share the Company uses the average Interest Conversion Price during the three months ended March 31, 2023.

	March 31, 2023		March 31, 2022
Weighted average shares used in computing net income per share of common stock, basic		657,565,442		322,211,392
Add: Shares issuable upon exercise of SPA Warrants		19,121,103		-
Add: Shares issuable upon conversion of SPA notes and settlement of make-whole provisions		311,952,117		-
Weighted average shares used in computing net loss per share of common stock, diluted		988,638,662		322,211,392

The following table presents the potentially dilutive shares that were excluded from the computation of diluted net income (loss) per share of Common Stock attributable to common stockholders, because their effect was anti-dilutive:

	March 31, 2023		March 31, 2022
Shares issuable upon exercise of SPA Warrants, excluding amounts included above in Diluted EPS		45,571,419		-
Shares issuable upon conversion of notes and settlement of Make-Whole provisions, excluding amounts included above in Diluted EPS		-		9,009,210
Other warrants		29,454,593		4,544,258
Stock-based compensation awards - Options		37,181,872		43,781,815
Stock-based compensation awards - RSUs		20,131,111		-
Public warrants		23,540,988		22,977,568
Private warrants		111,131		674,551
Total		155,991,114		80,987,402

17. Net Loss per Share

Net Loss Per Share Attributable to Common Stockholders

Basic net loss per share attributable to common stockholders is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares issued and shares to be issued under the commitment to issue shares, as these shares are issuable for no consideration.

Diluted net loss per share attributable to common stockholders adjusts the basic net loss per share attributable to common stockholders and the weighted-average number of shares issued and shares to be issued under the commitment to issue shares for potentially dilutive instruments.

For purposes of presentation of basic and diluted net loss per share, the Company includes shares to be issued in the denominator in accordance with ASC 710-10-54-4 and ASC 260-10-45-48 as if they had been issued on the date of the merger, as such shares are non-contingent and are issuable for no consideration (see Note 3, Business Combination).

The net loss per common share was the same for the Class A and Class B Common Stock because they are entitled to the same liquidation and dividend rights and are therefore combined on the Consolidated Statements of Operations and Comprehensive Loss.

Because the Company reported net losses for all periods presented, all potentially dilutive Common Stock equivalents were determined to be antidilutive for those periods and have been excluded from the calculation of net loss per share.

The following table presents the number of anti-dilutive shares excluded from the calculation of diluted net loss per share as of December 31:

	2022		2021
Convertible SPA notes		43,942,609		—
SPA make-whole provisions		130,180,503		—
SPA warrants		346,453,115		—
Convertible ATW notes		—		9,009,210
ATW NPA warrants		76,804,450		—
Other warrants		29,454,593		4,544,258
Stock-based compensation awards – SI Plan - Options		6,646,452		—
Stock-based compensation awards – SI Plan - RSUs(1)		17,869,663
Stock-based compensation awards – EI Plan		23,422,276		31,962,921
Stock-based compensation awards – STI Plan		5,618,512		9,526,727
Public warrants		23,540,988		22,977,568
Private warrants		111,131		674,551
Total		704,044,292		78,695,235

(1) The Company’s subsidiaries in China have employees who are citizens of the PRC. Pursuant to the regulation Circular 78 and Circular 7 issued by the Central State Administration of Foreign Exchange of PRC (“SAFE”), we cannot release vested RSUs to its PRC citizen employees before they have completed the required SAFE registration with a dedicated account set up for each of them to repatriate proceeds back to China under the SAFE. As a result, 1,448,697 RSUs of the Company’s PRC citizens employees vested in 2022 were included in the outstanding RSUs at December 31, 2022 as unreleased RSUs because those employees did not complete the SAFE registration process.