Net Loss Per Share

9 Months Ended

Sep. 30, 2023

NOTE 10 – NET LOSS PER SHARE

On October 1, 2022, 42,023,632 shares of the Company’s common stock, par value $0.001 per share, were distributed to the Former Parent’s stockholders of record as of September 21, 2022. This share amount is utilized for the calculation of basic and diluted earnings per share for all periods presented prior to the Separation and such shares are treated as issued and outstanding for purposes of calculating historical loss per share. For periods prior to the Separation, it is assumed that there are no dilutive equity instruments as there were no Xperi Inc. stock-based awards outstanding prior to the Separation.

For periods subsequent to the Separation, actual outstanding shares are used to calculate both basic and diluted weighted- average number of common shares outstanding. Potentially dilutive common shares, such as common shares issuable upon exercise of stock options and vesting of restricted stock awards and units are typically reflected in the computation of diluted net income per share by application of the treasury stock method. Due to the net losses reported, these potentially dilutive securities were excluded from the computation of diluted net loss per share, since their effect would be anti-dilutive.

The following table sets forth the computation of basic and diluted net loss per share (in thousands, except per share amount):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
Numerator:
Net loss attributable to the Company - basic and diluted	$	(41,426	)	$	(400,802	)	$	(111,821	)	$	(460,454	)
Denominator:
Weighted-average number of shares used to compute net loss per share attributable to the Company - basic and diluted		43,316			42,024			42,774			42,024
Net loss per share attributable to the Company - basic and diluted	$	(0.96	)	$	(9.54	)	$	(2.61	)	$	(10.96	)

The following potentially dilutive shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented (in thousands):


	Three and Nine Months Ended September 30,
	2023
Options		119
Restricted stock awards and units		7,260
ESPP		430
Total		7,809