Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Earnings Per Share, Basic and Diluted

The following table presents the calculation of basic and diluted earnings (loss) per share for the Company’s common stock (as adjusted for the Merger Exchange Ratio as described in Note 2 “Business Combination” ):


	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands, except per share amounts)	2022		2021		2022		2021
Numerator:
Net income (loss)	$	(23,528)	$	(14,692)	$	15,533	$	(29,233)
Denominator:
Basic weighted average common shares outstanding	116,412		8,238		115,935		6,925
Effect of dilutive securities:
Stock options	—		—		9,829		—
Restricted stock units	—		—		937		—
ESPP	—		—		16		—
Diluted weighted average common shares outstanding	116,412		8,238		126,717		6,925
Earnings (loss) per share:
Basic	$	(0.20)	$	(1.78)	$	0.13	$	(4.22)
Diluted	$	(0.20)	$	(1.78)	$	0.12	$	(4.22)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The number of potential shares outstanding that were anti-dilutive and were excluded from the computation of diluted earnings per share, weighted for the portion of the period they were outstanding, were as follows (as adjusted for the Merger Exchange Ratio as described in Note 2 “Business Combination”):


	Three Months Ended September 30,		Nine Months Ended September 30,
(In thousands)	2022	2021	2022	2021
Redeemable convertible preferred stock	—	75,495	—	75,495
Stock options	26,279	15,809	16,095	15,373
Restricted stock units	5,307	—	—	—
ESPP	81	—	—	—
Warrants	—	12	—	12
Earn-Out Shares	12,500	—	12,500	—
Total anti-dilutive shares	44,167	91,316	28,595	90,880