Net Loss per Common Share

9 Months Ended

Sep. 30, 2022

Basic and diluted net loss per common share was calculated as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Net loss	$	(45,432)	$	(108,161)	$	(37,030)	$	(84,812)
Less: Net loss attributable to noncontrolling interest	(7,825)		(28,512)		(6,022)		(22,127)
Net loss attributable to indie Semiconductor, Inc.	$	(37,607)	$	(79,649)	$	(31,008)	$	(62,685)





Net loss attributable to common shareholders - dilutive	$	(37,607)	$	(79,649)	$	(31,008)	$	(62,685)

Denominator:
Weighted average shares outstanding - basic	120,507,152		96,368,379		116,272,459		58,791,245






Weighted average common shares outstanding—diluted	120,507,152		96,368,379		116,272,459		58,791,245

Net loss per share attributable to common shares— basic	$	(0.31)	$	(0.83)	$	(0.27)	$	(1.07)
Net loss per share attributable to common shares— diluted	$	(0.31)	$	(0.83)	$	(0.27)	$	(1.07)

The Company’s potentially dilutive securities, which include SAFEs, unvested Class B units, unvested phantom units, unvested restricted stock units, convertible Class V common shares, warrants for Class A units (public and private), unexercised options, earn-out shares and escrow shares, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. The Company excluded the following potential shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to shareholders for the periods indicated as their inclusion would have had an antidilutive effect:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2022	2021	2022	2021
SAFEs	—	—	—	7,651,982
Unvested Class B units	—	—	—	1,817,375
Unvested Phantom units	1,060,119	1,727,730	1,060,119	1,727,730
Unvested Restricted stock units	8,248,983	3,437,188	8,248,983	3,437,188
Convertible Class V common shares	23,749,676	33,827,371	23,749,676	33,827,371
Public warrants for the purchase of Class A common shares	17,250,000	17,250,000	17,250,000	17,250,000
Private warrants for the purchase of Class A common shares	10,150,000	10,150,000	10,150,000	10,150,000
Unexercised options	368,875	—	368,875	—
Earn-out Shares	5,262,657	10,000,000	5,262,657	10,000,000
Escrow Shares	1,725,000	3,450,000	1,725,000	3,450,000
	67,815,310	79,842,289	67,815,310	89,311,646