Net Loss Per Share

3 Months Ended

Mar. 31, 2023

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 any stock options, the vesting of any restricted stock units, the exercise of any warrants (including the Public Warrants and the Private Warrants), the conversion of any convertible debt (including the Notes), and the conversion of any convertible preferred stock, in each case only in the periods in which such effect would have been dilutive.

For the three months ended March 31, 2023, net loss per share amounts were the same for Class A and Class B common stock because the holders of each class are entitled to equal per share dividends. For the three months ended March 31, 2022, 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 March 31,
		2023		2022
Numerator:
Net loss		$	(36,261)	$	(44,566)
Net income attributable to the redeemable noncontrolling interest		—		164
Net (loss) income attributable to noncontrolling interests		(260)		164
Net loss attributable to holders of Class A, Class B, and Class C common stock		(36,001)		(44,894)
Denominator:
Weighted average common shares outstanding, basic and diluted		140,704		136,425
Net loss per common share, basic and diluted		$	(0.26)	$	(0.33)

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 March 31,
		2023	2022
Stock options		3,795	4,355
Restricted stock units		6,604	7,019
Warrants		9,876	9,876
Convertible notes		12,000	12,000

Additionally, the calculation of diluted loss per share excluded 2.5 million RSUs for the three months ended March 31, 2022, for which the related liquidity condition had not been met.