Net Loss Per Share Attributable to Common Stock

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Net Loss Per Share Attributable to Common Stock

Note 13. Net income (loss) per share attributable to common stockholders

The Company grants certain stock options under the 2019 and 2020 Stock Option Plans as these are considered common stock equivalents. For the year ending December 31, 2020, the common stock equivalents were excluded from the calculation of net income (loss) per share due to their anti-dilutive effect. For the year ending December 31, 2021, the common stock equivalents were included to calculate weighted-average diluted shares outstanding. The Company used the treasury stock method.

The following table summarizes the impact of the treasury stock method:

Net income (loss) per shares		December 31,
(in thousands, except per share amounts)		2021				2020
Numerator
Net income (loss) attributable to common stockholders	$		214,521		$		(43,402	)
Denominator
Weighted-average shares used to compute net income (loss) per share, basic			35,181,383				15,080,266
Effect of dilutive securities (a)			(2,593,407	)		-
Weighted-average shares used to compute net income (loss) per share, diluted			37,774,790				15,080,266
Net income (loss) per share:
Basic	$		6.10		$		(2.88	)
Diluted	$		5.68		$		(2.88	)

(a) The common stock equivalents, which equaled 4,552,396 stock options outstanding as of December 31, 2020, were excluded for the year ending December 31, 2020, due to their anti-dilutive effect.