Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Earnings Per Share, Basic and Diluted

Basic and diluted loss per share (“EPS”) were as follows:


	Three Months Ended
	March 31,
$ in thousands, except share and per share data		2023		2022
Numerator:
Net loss		$	(10,544)	$	(58,968)
Denominator:
Weighted-average common shares outstanding		194,650,065		183,949,912
Weighted-average impact of warrants (1)		2,249,227		81,103
Denominator for basic EPS – weighted-average shares		196,899,292		184,031,015
Effect of dilutive securities		—		—
Denominator for diluted EPS – weighted-average shares		196,899,292		184,031,015

EPS – Basic and Diluted		$	(0.05)	$	(0.32)

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(1)Warrants that have a $0.01 exercise price are assumed to be exercised when vested because common shares issued for little consideration upon exercise are included in outstanding shares for the purposes of computing basic and diluted EPS.

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following securities were excluded from the calculation of loss per share as their impact would be anti-dilutive:


	Three Months Ended
	March 31,
		2023	2022
Stock options		19,533,368	37,429,240
Shares issuable related to the employee stock purchase plan		440,502	—
Unvested restricted stock units		11,770,288	—
Restricted shares issued upon the early exercise of unvested stock options		50,331	5,150,369
Unvested warrants		2,312,026	—
Vested warrants		8,566,656	8,566,666