NET LOSS PER COMMON SHARE

9 Months Ended

Sep. 30, 2023

The following tables present the computations of basic and diluted net loss per share from continuing operations:


	Three Months Ended September 30,				Nine Months Ended September 30,
Net Loss per Common Share	2023		2022		2023		2022
	(amounts in thousands, except per share data)
Basic (Loss) Per Share
Numerator:



Net loss	$	(234,333)	$	(140,975)	$	(396,036)	$	(152,821)
Denominator:
Basic weighted average shares outstanding	4,720		4,645		4,698		4,642



Net loss per share - Basic	$	(49.64)	$	(30.35)	$	(84.29)	$	(32.92)

Diluted (Loss) Per Share
Numerator:



Net loss	$	(234,333)	$	(140,975)	$	(396,036)	$	(152,821)
Denominator:
Basic weighted average shares outstanding	4,720		4,645		4,698		4,642
Effect of RSUs and options under the treasury stock method(1)	—		—		—		—
Diluted weighted average shares outstanding	4,720		4,645		4,698		4,642



Net loss per share - Diluted	$	(49.64)	$	(30.35)	$	(84.29)	$	(32.92)

(1) The Company had net losses used to calculate earnings per share for the three and nine months ended September 30, 2023 and 2022. Therefore, the effects of common share equivalents are excluded from the calculation of diluted loss per share for these periods because they would be antidilutive.

Reverse Stock Split

On June 30, 2023, the Company effected a one-for-thirty reverse stock split (the “Reverse Stock Split”) of our issued and outstanding shares of Common Stock. As a result of the Reverse Stock Split, every thirty (30) shares of Common Stock issued and outstanding were automatically combined into one (1) share of issued and outstanding Common Stock, without any change in the par value per share. In addition, proportional adjustments were made to the number of shares of the Company’s Class A common stock subject to outstanding equity awards, as well as the applicable exercise price, to reflect the Reverse Stock Split. All information related to Common Stock, stock options, restricted stock units, earnings per share have been retroactively adjusted to give effect to the Reverse Stock Split for all periods presented. The Company effected the Reverse Stock Split to seek to regain compliance with the minimum average closing price requirement of Rule 802.01C of the New York Stock Exchange’s Listing Company Manual. Following the Reverse Stock Split, the Class A common stock continued to be traded on the OTC Pink under the symbol “AUDA” on a split-adjusted basis beginning on June 30, 2023.

No fractional shares were issued in connection with the Reverse Stock Split. Instead, any shareholders of Class A or Class B common stock who would have been entitled to receive fractional shares as a result of the Reverse Stock Split received cash payment equal to the product obtained by multiplying (a) the fraction of the share of Class A or Class B common stock which shareholder would have otherwise been entitled to receive by (b) the closing price per share of the Company's Class A common stock on the OTC Pink at the close of business on the date prior to the Effective Time.

Disclosure of Anti-Dilutive Shares

The following table presents those shares excluded as they were anti-dilutive:


	Three Months Ended September 30,				Nine Months Ended September 30,
Impact Of Equity Issuances	2023		2022		2023		2022
	(amounts in thousands, except per share data)
Shares excluded as anti-dilutive under the treasury stock method:
Options	15		20		17		20
Price range of options: from	$	106.20	$	106.20	$	106.20	$	106.20
Price range of options: to	$	419.40	$	419.40	$	419.40	$	419.40
RSUs with service conditions	251		28		264		27
RSUs excluded with service and market conditions as market conditions not met	25		28		25		28
Excluded shares as anti-dilutive when reporting a net loss	4		30		—		56