Net loss per share |
Net loss per share The following table presents the calculation of basic and diluted net loss per share (in thousands except per share amounts): | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | 2023 | | 2022 | | 2021 | Basic | | | | | | Net (loss) | $ | (56,555) | | | $ | (72,446) | | | $ | (8,475) | | Less: net (loss) attributable to non-controlling interest | (16,135) | | | (14,780) | | | (3,200) | | Net (loss) attributable to MediaAlpha, Inc. | $ | (40,420) | | | $ | (57,666) | | | $ | (5,275) | | Denominator: | | | | | | Weighted-average shares of Class A common stock outstanding - basic and diluted | 45,573,416 | | | 41,944,874 | | | 37,280,533 | | Net (loss) per share of Class A common stock - basic | $ | (0.89) | | | $ | (1.37) | | | $ | (0.14) | | Net (loss) per share of Class A common stock - diluted | $ | (0.89) | | | $ | (1.37) | | | $ | (0.19) | |
| | | | | | | | | | | Year Ended December 31, | | | 2021 | Diluted | | | Net (loss) | | $ | (8,475) | | Add: incremental tax expense related to exchange of Class B-1 units | | (2,900) | | Net (loss) available for diluted common shares | | $ | (11,375) | | Weighted-average shares outstanding: | | | Class A common stock | | 37,280,533 | | Class B-1 units | | 21,357,847 | | Restricted Class A shares | | 724,922 | | Restricted stock units | | 1,892,623 | | Weighted-average shares of Class A common stock and potential Class A common stock | | 61,255,925 | | Net (loss) per share of Class A common stock - diluted | | $ | (0.19) | |
Potentially dilutive shares, which are based on the weighted-average shares of underlying unvested QLH restricted Class B-1 units, restricted Class A shares, RSUs, and PRSUs using the treasury stock method and the outstanding QLH restricted Class B-1 units using the if-converted method, are included when calculating diluted net loss per share attributable to MediaAlpha, Inc. when their effect is dilutive. The effects of the Company’s potentially dilutive securities were not included in the calculation of diluted loss per share as the effect would be anti-dilutive. The following table summarizes the shares and units with a potentially dilutive impact: | | | | | | | | | | | | | | | | | | | As of | | December 31, 2023 | | December 31, 2022 | | December 31, 2021 | QLH Class B / B-1 Units (Replacement awards) | 18,106,782 | | | 18,931,446 | | | 253,398 | | Restricted Class A Shares | 28,340 | | | 181,061 | | | — | | Restricted stock units | 3,632,433 | | | 4,894,121 | | | — | | Potential dilutive shares | 21,767,555 | | | 24,006,628 | | | 253,398 | |
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