Net Loss Per Share

9 Months Ended

Sep. 30, 2022

15. NET LOSS PER SHARE

The following table sets forth the computation of net loss per share of MoneyLion Class A Common Stock for the three and nine months ended September 30, 2022 and 2021:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Numerator:
Net loss		(21,017	)		(24,645	)		(54,060	)		(137,240	)
Net income attributable to redeemable noncontrolling interests		-			(3,520	)		-			(9,364	)
(Accrual) / reversal of dividends on preferred stock		(1,688	)		52,466			(4,892	)		42,728
Net (loss) income attributable to common shareholders	$	(22,705	)	$	24,301		$	(58,952	)	$	(103,876	)
Change in fair value of Legacy MoneyLion warrants liability		-			12,046			-			-
Change in fair value of subordinated convertible notes		-			(7,684	)		-			-
Interest expense from subordinated convertible notes		-			323			-			-
Net (loss) income attributable to common stockholders - diluted	$	(22,705	)	$	28,986		$	(58,952	)	$	(103,876	)

Denominator:
Weighted-average common shares outstanding - basic(1)		244,702,713			62,314,396			237,302,217			53,119,751
Weighted-average dilutive impact of redeemable convertible preferred stock		-			106,043,330			-			-
Weighted-average dilutive impact of Legacy MoneyLion Warrants		-			8,456,138			-			-
Weighted-average dilutive impact of options to purchase common stock		-			33,117,202			-			-
Weighted-average dilutive impact of subordinated convertible notes		-			9,183,022			-			-
Weighted-average common shares outstanding - diluted(1)		244,702,713			219,114,088			237,302,217			53,119,751
Net (loss) income per share attributable to common stockholders - basic(1)	$	(0.09	)	$	0.39		$	(0.25	)	$	(1.96	)
Net (loss) income per share attributable to common stockholders - diluted (1)	$	(0.09	)	$	0.13		$	(0.25	)	$	(1.96	)

(1)

Prior period results have been adjusted to reflect the exchange of Legacy MoneyLion’s Common Stock for MoneyLion Class A Common Stock at the Exchange Ratio of approximately 16.4078 in September 2021 as a result of the Business Combination. See Note 3, “Business Combination,” for details.

For the three and nine months ended September 30, 2022 and the nine months ended September 30, 2021, the Company’s potentially dilutive securities, which include stock options, RSUs, PSUs, preferred stock, the right to receive earnout shares and warrants to purchase shares of common stock and preferred stock, have been excluded from the computation of diluted net loss per share as the effect would be antidilutive. Therefore, the weighted-average number of common shares outstanding used to calculate both basic and diluted net loss per share is the same for the three and nine months ended September 30, 2022 and the nine months ended September 30, 2021.

The following potential common shares have been excluded from the computation of diluted net loss per share for the three and nine months ended September 30, 2022 and 2021:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Conversion of convertible preferred stock (1)		25,655,579		-		25,655,579		-
Warrants to purchase common stock and redeemable convertible preferred stock (1)		25,599,889		25,600,000		25,599,889		25,600,000
PSUs, RSUs and options to purchase common stock (1)		57,816,406		-		57,816,406		37,622,625
Right to receive earnout shares		17,500,000		17,500,000		17,500,000		17,500,000
Total common stock equivalents		126,571,874		43,100,000		126,571,874		80,722,625

(1)

Prior period results have been adjusted to reflect the exchange of Legacy MoneyLion Common Stock for MoneyLion Class A Common Stock at the Exchange Ratio of approximately 16.4078 in September 2021 as a result of the Business Combination. See Note 3, “Business Combination” for details.