Net Loss Per Share Attributable to Common Stockholders

6 Months Ended

Jun. 30, 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 June 30, 2022 and 2021 of 71,697,040 and 61,732,537 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 June 30,		Six months ended June 30,
	2022	2021	2022	2021
Numerator:
Net loss	$(86,009)	$(94,922)	$(158,046)	$(119,296)
Cumulative redeemable convertible preferred stock dividends	—	3,166	—	7,060
Numerator for Basic and Dilutive loss per share - loss available to common stockholders	$(86,009)	$(98,088)	$(158,046)	$(126,356)
Denominator:
Class A common stock	118,559,851	20,761,219	117,402,411	10,323,885
Class B common stock	17,343,741	3,440,961	17,432,990	1,711,079
Series A common stock	—	21,730,147	—	24,005,629
Series B common stock	—	2,483,731	—	2,770,584
Warrants	—	2,786,277	—	3,162,418
Denominator for Basic and Dilutive loss per share-weighted-average common stock	135,903,592	51,202,335	134,835,401	41,973,595
Basic loss per share	$(0.63)	$(1.92)	$(1.17)	$(3.01)
Dilutive loss per share	$(0.63)	$(1.92)	$(1.17)	$(3.01)

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 stockholders 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 June 30,				Six months ended June 30,
	2022		2021		2022		2021
Options		1,158,622		950,235		1,020,501		950,235
Restricted stock and restricted stock units		70,068,129		—		67,341,087		—
Performance stock units		3,479,500		—		2,888,931		—