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Net Loss Per Share Attributable to Common Stockholders
9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Net Loss Per Share Attributable to Common Stockholders
15.
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 September 30, 2021 and 2020 of 65,860,347 and 84,486,332 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 September 30,
    
Nine months ended September 30,
 
    
2021
    
2020
    
2021
    
2020
 
Net loss
   $
(69,129)
    
$
(13,003)
 
   $
(188,425)
     $ (44,437)  
Cumulative redeemable convertible preferred stock dividends
     —          3,774        7,060        11,150  
    
 
 
    
 
 
    
 
 
    
 
 
 
Numerator for Basic and Dilutive loss per share - loss available to common stockholders
  
$
(69,129)
 
  
$
(16,777)
 
  
$
(195,485)
 
   $ (55,587
)
    
 
 
    
 
 
    
 
 
    
 
 
 
Denominator:
                                   
Class A common stock
     111,312,720        —          50,027,683        —    
Class B common stock
     18,419,260        —          7,300,725        —    
Series A common stock
     —          26,108,711        14,420,964        26,108,727  
Series B common stock
     —          3,054,318        1,664,380        3,054,318  
Warrants (convertible to Series A common stock)
     —          3,444,328        1,899,768        3,444,328  
    
 
 
    
 
 
    
 
 
    
 
 
 
Denominator for Basic and Dilutive loss per share-weighted-average common stock
  
 
129,731,980
 
  
 
32,607,357
 
  
 
75,313,520
 
  
 
32,607,373
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Basic loss per share
  
$
(0.53)
 
   $ (0.51)     
$
(2.60)
 
   $ (1.70)  
Dilutive loss per share
  
$
(0.53)
 
   $ (0.51)     
$
(2.60)
 
   $ (1.70)  
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 common equivalent shares were as follows:
 
    
Three months ended September 30,
    
Nine months ended September 30,
 
    
2021
    
2020
    
2021
    
2020
 
Options (convertible to Series A common stock)
     923,750        1,137,026        923,750        1,137,026  
Warrants (convertible to Series A common stock)
     —          1,973,763        —          1,973,763  
Redeemable convertible preferred stock
     —          39,223,194        —          39,223,194  
Restricted stock and restricted stock units
     64,360,347        84,486,332        64,360,347        84,486,332  
Performance stock units
     1,500,000        —          1,500,000        —