Net Loss Per Share Attributable to Common Stockholders

3 Months Ended

Mar. 31, 2022

Net Loss Per Share Attributable to Common Stockholders

14.

Net Loss Per Share Attributable to Common Stockholders

Basic net loss per share is computed using the two-class method, by dividing the net loss by the weighted-average number of shares of common stock of the Company outstanding during the period. Diluted net loss per share is computed by giving effect to all potential shares of common stock of the Company, including redeemable convertible preferred stock, outstanding stock options, warrants, to the extent dilutive, and reduced by the amount of cumulative dividends earned on the preferred shares. However, the unvested restricted stock, restricted stock units and performance stock units as of March 31, 2022 and 2021 of 72,143,160 and 71,490,707 respectively, are not considered as participating securities and are anti-dilutive and as such are excluded from the weighted average number of shares used for calculating basic and diluted net loss per share. Basic and diluted net loss per share was the same for each period presented as the inclusion of all potential shares of common stock of the Company outstanding would have been anti-dilutive.

The following table sets forth the calculation of basic and diluted net loss per share attributable to common stockholders during the periods presented:


	Three months ended March 31,
	2022			2021
Numerator:
Net loss	$	(72,037	)	$	(24,374	)
Cumulative redeemable convertible preferred stock dividends		—			3,894
Numerator for Basic and Dilutive loss per share - loss available to common stockholders	$	(72,037	)	$	(28,268	)
Denominator:
Class A common stock		116,232,110			—
Class B common stock		17,852,593			—
Series A common stock		—			26,306,393
Series B common stock		—			3,054,318
Warrants		—			3,486,280
Denominator for Basic and Dilutive loss per share- weighted-average common stock		134,084,703			32,846,991
Basic loss per share	$	(0.54	)	$	(0.86	)
Dilutive loss per share	$	(0.54	)	$	(0.86	)

Since the Company was in a net loss position for all periods presented, basic loss per share calculation excludes redeemable convertible preferred stock as it does not participate in net losses of the Company. Additionally, net loss per share attributable to common shareholders was the same on a basic and diluted basis, as the inclusion of all potential common equivalent shares outstanding would have been anti-dilutive.

Anti-dilutive weighted-average common equivalent shares were as follows:


	Three months ended March 31,
	2022		2021
Options		880,846		912,198
Warrants		-		1,973,763
Preferred stock		-		39,223,194
Restricted stock and restricted stock units		67,499,127		—
Performance stock units		2,291,800		—