Net Loss Per Share

12 Months Ended

Dec. 31, 2022

15. Net Loss Per Share

The following table sets forth the computation of basic and diluted net loss per Class A common share attributable to Rani Holdings (in thousands, except per share data):


	Year Ended December 31,
	2022			2021
Numerator:
Net loss per Class A common share attributable to Rani Therapeutics Holdings, Inc.	$	(30,588	)	$	(8,331	)
Denominator:
Weighted average Class A common share outstanding—basic and diluted		23,817			19,534
Net loss per Class A common share attributable to Rani Therapeutics Holdings, Inc.—basic and diluted	$	(1.28	)	$	(0.43	)

The following table shows the total outstanding securities considered anti-dilutive and therefore excluded from the computation of diluted net loss per Class A common share attributable to Rani Holdings:


	Year Ended December 31,
	2022		2021
Paired Interests		24,116,444		29,290,391
Stock options		3,788,586		2,300,819
Non-corresponding Class A Units		1,387,471		1,545,522
Restricted stock units		665,500		596,500
Warrants		76,336		—
Restricted stock awards		67,389		113,173
Shares issuable pursuant to the ESPP		65,586		—
		30,167,312		33,846,405

Shares of Class B Common Stock do not share in the Company’s earnings and are not participating securities. Accordingly, separate presentation of loss per share of Class B common stock under the two-class method has not been provided. The outstanding shares of Class B Common Stock were determined to be anti-dilutive for the year ended December 31, 2022. Therefore, they are not included in the computation of net loss per Class A common share attributable to Rani Therapeutics Holdings, Inc.