Net Loss Per Share

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Net Loss Per Share

Note 16 — Net Loss Per Share

The “Net loss per share - attributable to PAVmed Inc. - basic and diluted” and “Net loss per share - attributable to PAVmed Inc. common stockholders - basic and diluted” - for the respective periods indicated - is as follows:

	Three Months Ended March 31,
	2023			2022
Numerator
Net loss - before noncontrolling interest	$	(22,214	)	$	(19,633	)
Net loss attributable to noncontrolling interest		4,283			2,761
Net loss - as reported, attributable to PAVmed Inc.	$	(17,931	)	$	(16,872	)
Series B Convertible Preferred Stock dividends – earned	$	(74	)	$	(68	)
Net loss attributable to PAVmed Inc. common stockholders	$	(18,005	)	$	(16,940	)
Denominator
Weighted average common shares outstanding, basic and diluted		97,095,156			86,336,427
Net loss per share
Basic and diluted
Net loss - as reported, attributable to PAVmed Inc.	$	(0.18	)	$	(0.20	)
Net loss attributable to PAVmed Inc. common stockholders	$	(0.19	)	$	(0.20	)

The common stock equivalents have been excluded from the computation of diluted weighted average shares outstanding as their inclusion would be anti-dilutive, are as follows:

The Series B Convertible Preferred Stock dividends earned as of each of the respective periods noted, are included in the calculation of basic and diluted net loss attributable to PAVmed common stockholders for each respective period presented. Notwithstanding, the Series B Convertible Preferred Stock dividends are recognized as a dividend payable only upon the dividend being declared payable by the Company’s board of directors.

Basic weighted-average number of shares of common stock outstanding for the three months ended March 31, 2023 and 2022 include the shares of the Company issued and outstanding during such periods, each on a weighted average basis. The basic weighted average number of shares of common stock outstanding excludes common stock equivalent incremental shares, while diluted weighted average number of shares outstanding includes such incremental shares. However, as the Company was in a loss position for all periods presented, basic and diluted weighted average shares outstanding are the same, as the inclusion of the incremental shares would be anti-dilutive. The common stock equivalents excluded from the computation of diluted weighted average shares outstanding are as follows:

	March 31,
	2023		2022
Stock options and restricted stock awards		18,955,720		12,368,292
Series Z Warrants		11,937,450		11,937,450
Series B Convertible Preferred Stock		1,229,887		1,136,210
Total		32,123,057		25,441,952

The total stock options and restricted stock awards are inclusive of 500,854 stock options as of March 31, 2023 and 2022; and 100,000 restricted stock awards as of March 31, 2022 granted outside the PAVmed 2014 Equity Plan. These 100,000 restricted stock awards were fully vested during the period ended March 31, 2023.