Net Loss per Share

3 Months Ended

Mar. 31, 2024

Note 9: Net Loss per Share

Basic net loss per share is calculated by dividing net loss attributable to Class A ordinary shareholders by the weighted-average shares of Class A ordinary shares outstanding without the consideration for potential dilutive securities. Diluted net loss per share represents basic net loss per share adjusted to include the effects of all potentially dilutive shares. Diluted net loss per share is the same as basic loss per share for all periods as the inclusion of potentially issuable shares would be antidilutive.

The following table sets forth the computation of basic and diluted net loss per share for the three months ended March 31, 2024 and 2023 (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2024			2023
Numerator
Net loss	$	(35,333	)	$	(36,909	)
Less: Net loss attributable to noncontrolling interests		(25,841	)		(27,244	)
Net loss available to Class A ordinary shareholders of ProKidney Corp., basic and diluted	$	(9,492	)	$	(9,665	)

Denominator
Weighted average Class A ordinary shares or ProKidney Corp. outstanding, basic and diluted		60,951,721			61,540,231

Net loss per Class A ordinary share
Net loss per Class A ordinary share of ProKidney Corp., basic and diluted	$	(0.16	)	$	(0.16	)

Outstanding anti-dilutive securities not included in the diluted net loss per share calculation include the following:


	As of March 31,		As of March 31,
	2024		2023
Antidilutive securities
ProKidney Corp. Class B ordinary shares		167,723,553		173,444,861
Unvested Restricted Stock Rights		2,312,356		6,175,541
Earnout Rights		17,500,000		17,500,000
Legacy SCS Restricted Share Units		–		50,000
Stock options granted under the 2022 Equity Incentive Plan		21,845,327		14,591,415