Three Months Ended

Six Months Ended

June 30,

($ in thousands except per share data)

2022

2021

2022

2021

Net income (loss) per share — Basic:

Net income (loss)

$

(5,307)

$

(7,563)

$

(9,485)

$

108,175

Less: Undistributed earnings to preferred stockholders

—

(2,725)

Net income (loss) applicable to common stockholders - basic

$

(5,307)

$

(7,563)

$

(9,485)

$

105,450

Numerator for basic net income (loss) applicable to common stockholders

$

(5,307)

$

(7,563)

$

(9,485)

$

105,450

Denominator for basic net income (loss) applicable to common stockholders

52,972

49,909

52,933

45,575

Net income (loss) applicable to common stockholders - basic

$

(0.10)

$

(0.15)

$

(0.18)

$

2.31

Net income (loss) per share — Diluted:

Net income (loss)

$

(5,307)

$

(7,563)

$

(9,485)

$

108,175

Less: Warrant revaluation gain applicable to dilutive liability-classified warrants

—

(6,983)

Less: Future tranche right revaluation gain applicable to dilutive liability-classified future tranche rights

—

(118,803)

Numerator for diluted net income (loss) applicable to common stockholders

$

(5,307)

$

(7,563)

$

(9,485)

$

(17,611)

Denominator for basic net income (loss) applicable to common stockholders

52,972

49,909

52,933

45,575

Plus: Incremental shares underlying “in the money” liability-classified warrants outstanding

—

496

Plus: Incremental shares underlying “in the money” liability-classified future tranche rights outstanding

—

8,866

Denominator for diluted net income (loss) applicable to common stockholders

52,972

49,909

52,933

54,937

Net income (loss) applicable to common stockholders - diluted

$

(0.10)

$

(0.15)

$

(0.18)

$

(0.32)