Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2023

The following table sets forth the computation of basic and diluted (loss) income per share:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator:
Net income (loss) and comprehensive income (loss)	$	22,331	$	(4,302)	$	(10,568)	$	199
Denominator:
Basic weighted average shares of common shares outstanding	173,896,490		155,681,830		173,749,027		155,624,369
Diluted effect of stock-based awards	483,922		—		—		1,032,843
Diluted weighted average shares of common shares outstanding	174,380,412		155,681,830		173,749,027		156,657,212

Net income (loss) per share:
Basic	$0.13		($0.03)		($0.06)		—
Diluted	$0.13		($0.03)		($0.06)		—

The weighted-average number of shares of common stock outstanding prior to the Business Combination have been retroactively adjusted by the Exchange Ratio to give effect to the reverse recapitalization treatment of the Business Combination.

The following table presents the potential shares that are excluded from the computation of diluted net income (loss) per share and comprehensive income (loss) per share for the periods presented because including them would have had an anti-dilutive effect:


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Stock options issued under 2020 Plan	1,068,754	1,268,435	2,998,926	—
Time-based RSUs	4,538,936	—	5,648,901	—
Public and Private Warrants	37,360,000	—	37,360,000	—

The table above does not include shares issuable under the Executive Market Condition Awards, as the market condition criterion has not yet been achieved. Such shares are also not included in the Company’s calculation of basic or diluted net income per share.