Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings (loss) per share of Class A common stock:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator:
Net loss	$	(89,383)	$	(43,482)	$	(240,285)	$	(245,548)

Less: Net loss attributable to noncontrolling interests subsequent to the Reorganization Transactions	(61,991)		(30,892)		(167,104)		(176,909)
Net loss attributable to SDC Inc. - basic	(27,392)		(12,590)		(73,181)		(68,639)
Add: Reallocation of net loss attributable to noncontrolling interests after the Reorganization Transactions from the assumed exchange of LLC Units for Class A common stock	(61,991)		(30,892)		(167,104)		(176,909)
Net loss attributable to SDC Inc. - diluted	$	(89,383)	$	(43,482)	$	(240,285)	$	(245,548)
Denominator:
Weighted average shares of Class A common stock outstanding - basic	118,918,072		111,703,080		118,081,711		108,459,488
Add: Dilutive effects as shown separately below
LLC Units that are exchangeable for Class A common stock	269,243,501		273,969,597		269,472,914		276,429,361
Weighted average shares of Class A common stock outstanding - diluted	388,161,573		385,672,677		387,554,625		384,888,849

Earnings (loss) per share of Class A common stock outstanding - basic	$	(0.23)	$	(0.11)	$	(0.62)	$	(0.63)
Earnings (loss) per share of Class A common stock outstanding - diluted	$	(0.23)	$	(0.11)	$	(0.62)	$	(0.64)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Due to their anti-dilutive effect, the following securities have been excluded from diluted net earnings (loss) per share in the periods presented:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2021	2020	2021	2020
Options	1,729,339	1,679,339	1,729,339	1,679,339
Restricted Stock Units	5,400,364	4,885,580	5,400,364	4,885,580
Warrants	3,889,575	3,889,575	3,889,575	3,889,575
Shares issuable under the Notes (if converted method)(1)	41,389,822	—	41,389,822	—

(1) In connection with the issuance of the Notes, the Company entered into Capped Call Transactions, which were not included for purposes of calculating the number of diluted shares outstanding, as their effect would have been anti-dilutive. The Capped Call Transactions are expected to reduce the potential dilution to the Company’s common stock (or, in the event a conversion of the Notes is settled in cash, to reduce its cash payment obligation) in the event that at the time of conversion of the Notes the Company’s common stock price exceeds the conversion price of the Notes.