Loss per Share

6 Months Ended

Jun. 30, 2022

Note 15 — Loss per Share

Founders Convertible Preferred Stock and Convertible Preferred Stock were participating securities in periods of income, as the Founders Convertible Preferred Stock and Convertible Preferred Stock participated in undistributed earnings on an as-if-converted or as-vested basis. However, the Founders Convertible Preferred Stock and Convertible Preferred Stock, did not share in losses.

The Company computes earnings per share of Common Stock using the two-class method required for participating securities and does not apply the two-class method in periods of net loss. Basic and diluted earnings per share were the same for the periods presented as the inclusion of all potential Common Stock outstanding would have been anti-dilutive. Earnings per share calculations for all periods prior to the Business Combination have been retrospectively restated to the equivalent number of shares reflecting the exchange ratio established in the BCA. Subsequent to the Business Combination, earnings per share was calculated based on weighted average number of shares of common stock then outstanding.

The following tables set forth the computation of basic and diluted loss for the three months ended June 30, 2022 and 2021, and the six months ended June 30, 2022 and 2021:


	For The Three Months Ended June 30,
	2022						2021
(in thousands, except share and per share amounts)	Class A Common			Class B Common			Class A Common			Class B Common
Net loss attributed to common stockholders	$	(65,025	)	$	(17,278	)	$	(9,393	)	$	(21,904	)
Adjustment to redemption value on Convertible Preferred Stock		—			—			—			—
Net loss attributed to common stockholders	$	(65,025	)	$	(17,278	)	$	(9,393	)	$	(21,904	)
Basic weighted average common shares outstanding		209,021,924			55,539,188			20,035,183			46,722,244
Dilutive weighted average common shares outstanding		209,021,924			55,539,188			20,035,183			46,722,244
Loss per share attributable to common stockholders:
Basic and Diluted loss per share	$	(0.31	)	$	(0.31	)	$	(0.47	)	$	(0.47	)


	For The Six Months Ended June 30,
	2022						2021
(in thousands, except share and per share amounts)	Class A Common			Class B Common			Class A Common			Class B Common
Net loss attributed to common stockholders	$	(132,684	)	$	(35,332	)	$	(53,144	)	$	(137,125	)
Adjustment to redemption value on Convertible Preferred Stock		—			—			(282,587	)		(729,139	)
Net loss attributed to common stockholders	$	(132,684	)	$	(35,332	)	$	(335,731	)	$	(866,264	)
Basic weighted average common shares outstanding		208,569,794			55,539,188			18,131,574			46,783,559
Dilutive weighted average common shares outstanding		208,569,794			55,539,188			18,131,574			46,783,559
Loss per share attributable to common stockholders:
Basic and Diluted loss per share	$	(0.64	)	$	(0.64	)	$	(18.52	)	$	(18.52	)

There were no preferred dividends declared or accumulated as of June 30, 2021. The following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive:


	As of June 30,
	2022				2021
	Class A Common		Class B Common		Class A Common		Class B Common
Stock options		8,166,274		—		5,993,412		—
RSUs		15,558,491		—		—		—
Convertible Preferred Stock		—		—		—		—
Warrants		—		—		15,813,829		—
Total		23,724,765		—		21,807,241		—