Net (Loss) Income Per Share

3 Months Ended

Mar. 31, 2023

The following table sets forth the computation of basic and diluted net (loss) income per share for the three months ended March 31, 2023 and 2022 (in thousands, except share and per-share data):


	Three Months Ended March 31,
	2023		2022
Numerator:
Net (loss) income	$	(21,663)	$	28,778
Less: Change in fair value of liability warrants	—		(18,515)
Adjusted net (loss) income	$	(21,663)	$	10,263
Denominator:
Weighted-average common shares outstanding - basic	153,345,554		124,232,799
Dilutive effect of employee equity incentive plans and outstanding warrants	—		3,340,686
Weighted-average common shares used in per share calculations - diluted	153,345,554		127,573,485
Net (loss) income per share:
Basic	$	(0.14)	$	0.23
Diluted	$	(0.14)	$	0.08

The following table represents the potential dilutive shares of common stock excluded from the computation of the diluted net (loss) income per share for all periods presented, as the effect would have been anti-dilutive:


	Three Months Ended March 31,
	2023	2022
Options, RSUs and ESPP shares	23,204,649	15,292,967
Warrants to purchase common stock	31,228,279	292,469
Total	54,432,928	15,585,436