Net Loss Per Share Attributable to Common Stockholders

12 Months Ended

Dec. 31, 2022

Net Loss Per Share Attributable to Common Stockholders

NOTE 20—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 December 31, 2022 and 2021 of 63,586,775 and 66,708,870, 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:


	Year ended December 31,
	2022			2021			2020
Numerator:
Net loss	$	(279,239	)	$	(249,563	)	$	(53,225	)
Cumulative redeemable convertible preferred stock dividends		—			7,060			19,571
Numerator for Basic and Dilutive loss per share – loss available to common stockholders	$	(279,239	)	$	(256,623	)	$	(72,796	)
Denominator:
Class A common stock		122,455,432			61,972,951			—
Class B common stock		16,529,833			10,143,209			—
Series A common stock		—			11,904,161			26,108,723
Series B common stock		—			1,372,351			3,054,318
Warrants		—			1,539,519			3,426,368
Denominator for Basic and Dilutive loss per share – weighted-average common stock		138,985,265			86,932,191			32,589,409
Basic loss per share	$	(2.01	)	$	(2.95	)	$	(2.23	)
Dilutive loss per share	$	(2.01	)	$	(2.95	)	$	(2.23	)

Since the Company was in a net loss position for all periods presented, the inclusion of all potential common equivalent shares outstanding would have been anti-dilutive. Therefore net loss per share attributable to common stockholders was the same on a basic and diluted basis.

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


	Year ended December 31,
	2022		2021		2020
Options		1,096,894		940,653		1,106,220
Warrants		—		—		1,973,763
Preferred stock		—		—		39,223,194
Restricted stock and restricted stock units		66,224,013		70,650,049		85,903,970
Performance stock units		3,186,642		558,904		—