NET LOSS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Loss Per Share

The following table presents the calculation of basic and diluted net loss per share for the Company’s common stock:

	Three Months Ended March 31,
	2022			2021
Numerator:
Net Loss	$	(23,775	)	$	(7,794	)
Numerator for Basic and Dilutive EPS – Loss available to common stockholders	$	(23,775	)	$	(7,794	)
Denominator:
Common Stock		70,332,349			1,602,732
Denominator for Basic and Dilutive EPS - Weighted-average common stock		70,332,349			1,602,732
Basic and dilutive loss per share	$	(0.34	)	$	(4.86	)

Schedule of Anti-dilutive Common Equivalent Shares

Anti-dilutive common equivalent shares were as follows:

	Three Months Ended March 31,
	2022		2021
Outstanding options to purchase common stock		11,482,461		1,851,656
Outstanding Legacy Hyperfine convertible preferred stock (Series A through D)		—		35,757,168
Outstanding RSUs		1,778,051		—
Earn-Out Shares (1)		10,000,000		—
Total anti-dilutive common equivalent shares		23,260,512		37,608,824

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(1) The Company will issue to holders of Legacy Hyperfine and Liminal securities as of immediately prior to the effective time of the Mergers, in accordance with their pro rata share, up to 10,000,000 shares of Class A common stock as earn-out consideration (the “Earn-Out Shares”), if at any time during the period between the Closing Date of December 22, 2021 and the third anniversary of the Closing Date (the “Earn-Out Period”), (i) the last share price of the Class A common stock is greater than or equal to $15.00 for any 20 trading days within any 30 consecutive trading day period, or (ii) there is a transaction that will result in shares of Class A common stock being converted or exchanged into the right to receive cash or other consideration having a value greater than or equal to $15.00. During the Earn-Out Period, if there is a transaction (other than for stock splits, stock dividends, special cash dividends, reorganizations, recapitalizations or similar transactions affecting the Class A common stock) that will result in the shares of Class A common stock being converted or exchanged into the right to receive cash or other consideration having a value less than $15.00, then the right to receive Earn-Out Shares will terminate.