Basic and Diluted Net Loss Per Share (Tables)

9 Months Ended

Sep. 30, 2021

Basic and Diluted Net Loss Per Share

Schedule of earnings per share, basic and diluted

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Numerator:
Net loss used to compute net loss per share:
Basic	$	(5,099)	$	(8,923)	$	(86,497)	$	(33,548)
Adjustments for change in fair value of warrant liability		(2,692)		—		—		—
Diluted	$	(7,791)	$	(8,923)	$	(86,497)	$	(33,548)
Denominator:
Weighted average shares outstanding used to compute loss per share:
Basic		96,839,292		35,809,973		92,544,137		35,294,839
Dilutive effect of warrants		706,650		—		—		—
Diluted		97,545,942		35,809,973		92,544,137		35,294,839
Loss per share - basic	$	(0.05)	$	(0.25)	$	(0.93)	$	(0.95)
Loss per share - diluted	$	(0.08)	$	(0.25)	$	(0.93)	$	(0.95)

Schedule of antidilutive securities excluded from computation of earnings per share

	Three Months Ended		Nine Months Ended
	2021	2020	2021	2020
Stock options	5,131,615	7,916,924	5,131,615	7,916,924
Restricted stock units and awards	984,135	2,144,819	984,135	2,144,819
Legacy Porch warrants	—	3,343,451	—	3,343,451
Public and private warrants	—	—	1,821,951	—
Earnout shares	4,099,999	—	4,099,999	—
Convertible debt(1)	16,998,130	1,856,353	16,998,130	1,856,353

⁽¹⁾ In connection with the September 16, 2021 issuance of the 2026 Notes, the Company used a portion of the proceeds to pay for the capped call transactions, which are expected to generally reduce the potential dilution to the Company’s common stock. The capped call transactions impact the number of shares that may be issued by effectively increasing the conversion price for the Company from $25 per share to approximately $37.74 per share, which would result in 11,261,261 potentially dilutive shares instead of the shares reported in this table as of September 30, 2021.