Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2021

11. Earnings (Loss) Per Share

Basic and diluted earnings per share are the same for each class of common stock because they are entitled to the same liquidation and dividend rights. The following table sets forth the computation of basic and diluted loss per Class A Common Stock and Class B Common Stock (amounts in thousands, except per share amounts):


	Year Ended December 31,
	2021			2020			2019

Numerator:
Net loss attributable to common stockholders - Basic	$	(45,966	)	$	(1,681,777	)	$	(51,283	)
Less: Change in fair value of assumed common stock warrant liabilities		(168,674	)		-			-
Net loss attributable to common stockholders - Diluted	$	(214,640	)	$	(1,681,777	)	$	(51,283	)
Denominator:
Weighted average Class A and Class B Common Stock outstanding- Basic		404,259			252,144			239,636
Effect of dilutive securities		5,250			—			—
Weighted average Class A and Class B Common Stock outstanding - Diluted		409,509			252,144			239,636

Net loss per share attributable to Class A and Class B Common stockholders - Basic	$	(0.11	)	$	(6.67	)	$	(0.21	)
Net loss per share attributable to Class A and Class B Common stockholders - Diluted	$	(0.52	)	$	(6.67	)	$	(0.21	)

The following table presents the potential common stock outstanding that was excluded from the computation of diluted net loss per share of common stock as of the periods presented because including them would have been antidilutive (amounts in thousands):


	Year Ended December 31,
	2021		2020		2019
Warrants		—		18,150		1,023
Options outstanding		53,078		55,316		55,457
Restricted stock units		10,555		13,913		—
VGA contingent purchase commitment (1)		—		15,221		—
Total		63,633		102,600		56,480

(1)

This refers to VGA’s commitment to purchase 15.2 million shares of Class A Common Stock for $100.0 million subject to certain conditions including the achievement of a specified technical milestone by March 31, 2021. See Note 10 for more information.