Net Loss Per Share

12 Months Ended

Dec. 31, 2022

The numerators and denominators of the basic and diluted net loss per share are computed as follows (in thousands, except per share, unit and per unit data):


	Successor
Basic and diluted net loss per share	Year Ended December 31, 2022		Year Ended December 31, 2021		Period from May 22, 2020 through December 31, 2020
Numerator:
Net loss	$	(121,674)	$	(123,552)	$	(7,838)
Denominator:
Weighted average shares outstanding—basic and diluted	127,698,478		107,009,834		105,000,000
Basic and diluted net loss per Share	$	(0.95)	$	(1.15)	$	(0.07)

As of December 31, 2022, there were outstanding Stock Options to purchase 2,982,893 shares of common stock at a weighted-average exercise price of $2.89, outstanding private warrants and public warrants to convert to 210,642 shares and 12,115,130 shares, respectively, of common stock at a price of $11.50 per share, convertible notes to convert to 18,844,600 shares of common stock at a conversion price of $10.61, ESPP contributions for the option to acquire 3,482,791 shares of common stock, and outstanding restricted stock units and performance stock units representing the right to receive 7,595,185 shares and 287,500 shares of common stock, respectively. Because of the net loss incurred during the year ended December 31, 2022, the impacts of dilutive instruments would have been anti-dilutive for the period presented and have been excluded from loss per share calculations.

As of December 31, 2021, there were outstanding Stock Options to purchase 482,000 shares of common stock at an exercise price of $9.99, outstanding private warrants and public warrants to convert to 366,533 shares and 11,959,939 shares, respectively, of common stock at a price of $11.50 per share, convertible notes to convert to 17,391,304 shares of common stock at an initial conversion price of $11.50, written put options for 9,952,803 shares of common stock at a price of $10.15 per share, and outstanding restricted stock units and performance stock units representing the right to receive 403,300 shares and 150,000 shares of common stock, respectively. The effects of these dilutive instruments were not presented for the Successor 2021 Period as the effects would be anti-dilutive. There were no potentially dilutive common stock instruments for the Successor 2020 Period.

During the first quarter of 2023, the Company issued 13,888,889 shares of Common Stock and warrants to purchase up to an additional 13,888,889 shares of Common Stock under a private placement. Refer to Note X—Subsequent Events for more information.