Net Loss Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net Loss Per Share

Net Loss Per Share

Net loss per share calculations for all periods prior to the FEAC Business Combination have been retrospectively adjusted for the equivalent number of shares outstanding immediately after the FEAC Business Combination to effect the reverse recapitalization. Subsequent to the FEAC Business Combination, net loss per share was calculated based on the weighted average number of common stock then outstanding.

The Company computes net loss per share of the Class A common stock and Class B common stock using the two-class method required for participating securities. Basic and diluted loss per share are the same for each class of common stock because they are entitled to the same liquidation and dividend rights. The effect of potentially dilutive common shares is reflected in diluted loss per share by application of the treasury stock method. The following table sets forth the computation of basic and diluted loss per Class A common stock and Class B common stock (in thousands, except for share and per share data):

	Year Ended December 31,
	2022		2021		2020
			(As Restated)		(As Restated)
Numerator:
Net loss – basic	$	(438,875)	$	(187,925)	$	(149,079)
Denominator:
Weighted average common shares outstanding – basic	409,969,539		384,625,249		294,549,146
Net loss per share attributable to common stockholders – basic	$	(1.07)	$	(0.49)	$	(0.51)
Numerator:
Net loss – basic	$	(438,875)	$	(187,925)	$	(149,079)
Decrease in fair value of public and private common stock warrant liabilities	—		(87,922)		—
Net loss – diluted	(438,875)		(275,847)		(149,079)
Denominator:
Weighted average common shares outstanding – basic	409,969,539		384,625,249		294,549,146
Incremental common shares from assumed exercise of public and private common stock warrants	—		3,924,424		—
Weighted average common shares outstanding – diluted	409,969,539		388,549,673		294,549,146
Net loss per share attributable to common stockholders – diluted	$	(1.07)	$	(0.71)	$	(0.51)

The following outstanding common stock equivalents were considered antidilutive, and therefore, excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented (share numbers are not in thousands):

	Year Ended December 31,
Number of Securities Outstanding	2022	2021	2020
Common and preferred stock warrants	4,535,728	—	22,314,778
Common stock options	20,723,690	35,895,960	51,735,883
Performance stock units	—	16,146,630	—
Restricted stock units	50,106,562	7,600,097	341,256
Earnout shares	—	—	10,000,000
Total	75,365,980	59,642,687	84,391,917