Net Loss Per Share

6 Months Ended

Jun. 30, 2022

Net Loss Per Share

Net Loss Per Share

12.Net Loss Per Share

Net loss per share is computed using the two-class method. Basic net loss per share is computed using the weighted average number of shares of common stock outstanding for the period. Diluted net loss per share reflects the effect of the assumed exercise of stock options, the vesting of RSUs, the exercise of warrants, the conversion of the Notes, and the conversion of convertible preferred stock only in the periods in which such effect would have been dilutive.

Holders of convertible preferred stock did not participate in losses and, accordingly, losses for the three and six months ended June 30, 2021 were allocated entirely to holders of Class A, Class B, and Class C common stock. For the three and six months ended June 30, 2022 and 2021, net loss per share amounts were the same for Class A, Class B, and Class C common stock because the holders of each class are entitled to equal per share dividends.

The table below presents the computation of basic and diluted net loss per share:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Numerator:
Net loss	$	(23,581)	$	(789)	$	(68,147)	$	(12,114)
Net income attributable to the redeemable noncontrolling interest		—		85		164		145
Net income (loss) attributable to noncontrolling interests		184		(292)		348		(310)
Net loss attributable to holders of Class A, Class B, and Class C common stock	$	(23,765)	$	(582)		(68,659)		(11,949)
Denominator:
Weighted average common shares outstanding, basic and diluted		137,381		18,550		136,906		16,878
Net loss per common share, basic and diluted	$	(0.17)	$	(0.03)	$	(0.50)	$	(0.71)

The table below presents the details of securities that were excluded from the calculation of diluted net income (loss) per share as the effect would have been anti-dilutive:

	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021
Stock options	4,235	7,260	4,235	7,260
Restricted stock units	5,958	—	3,546	—
Warrants	9,876	—	9,876	—
Convertible notes	12,000	—	12,000	—
Convertible preferred stock	—	94,360	—	94,360

Additionally, the calculation of diluted loss per share excluded 2.4 and 5.3 million RSUs for the six months ended June 30, 2022 and 2021, respectively, for which the related liquidity condition had not been met.