Net Income (Loss) per Share (Tables)

9 Months Ended

Sep. 30, 2020

The following table sets forth the computation of basic net income (loss) per share attributable to common stockholders for the three and nine months ended September 30, 2020, and 2019:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(in thousands, except shares and per share data)
Basic net income (loss) per share:
Numerator
Net income (loss)	$	(71,133)	$	14,716	$	(112,766)	$	45,104
Preferred distribution to redeemable convertible preferred units	—		(3,252)		(40,689)		(7,435)
Non-cash adjustment to redemption amount of the redeemable convertible preferred units	—		(58,601)		47,537		(104,825)
Net loss attributable to common unitholders	(71,133)		(47,137)		(105,918)		(67,156)
Denominator
Basic weighted-average common shares	115,189,532		37,631,052		67,828,046		37,631,052
Basic net loss per share attributable to common stockholders	$	(0.62)	$	(1.25)	$	(1.56)	$	(1.78)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following weighted average shares of the potentially dilutive outstanding securities for the three and nine months ended September 30, 2020 and 2019 were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented. Therefore, the diluted net income (loss) per share for the three and nine months ended September 30, 2020 and 2019 are the same as the basic net income (loss) per share.


	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
Redeemable public warrants	2,230,897	—	890,291	—
Contingency consideration	5,803,329	—	4,032,276	—
Retroactively restated redeemable convertible Series C preferred units	—	14,278,603	8,389,982	14,278,603
Total	8,034,226	14,278,603	13,312,549	14,278,603