Net Income (Loss) per Share |
13.Net Income (Loss) per Share Basic and diluted net income (loss) per share was calculated as follows:
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Three Months Ended March 31, |
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2024 |
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|
2023 |
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Numerator: |
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|
|
Net income (loss) |
|
$ |
5,586 |
|
|
$ |
(17,801 |
) |
Cumulative undeclared preferred dividends to participating securities (Legacy Series D convertible preferred stock) |
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|
— |
|
|
|
(717 |
) |
Net income (loss) attributable to common shareholders - Basic |
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$ |
5,586 |
|
|
$ |
(18,518 |
) |
Adjustment for change in fair value of liability classified warrants |
|
|
(108 |
) |
|
|
— |
|
Net income (loss) attributable to common shareholders - Diluted |
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$ |
5,478 |
|
|
$ |
(18,518 |
) |
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|
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Basic weighted-average common shares outstanding |
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|
47,779,350 |
|
|
|
27,087,174 |
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Effect of potentially dilutive securities: |
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|
|
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Stock options |
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|
1,117,680 |
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|
|
— |
|
Restricted stock units |
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|
172,077 |
|
|
|
— |
|
Warrants |
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|
121,367 |
|
|
|
— |
|
Diluted weighted-average common shares outstanding |
|
|
49,190,474 |
|
|
|
27,087,174 |
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|
|
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|
|
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Basic net income (loss) per common share |
|
$ |
0.12 |
|
|
$ |
(0.68 |
) |
Diluted net income (loss) per common share |
|
$ |
0.11 |
|
|
$ |
(0.68 |
) |
The Company excluded the following potential shares of Common Stock, presented based on amounts outstanding at each period end, from the computation of diluted net income (loss) per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect. As the triggering event under which the Earn-Out shares become issuable has not been met as of March 31, 2024, the Earn-Out shares have been excluded from the computation of diluted net income (loss) per share.
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As of March 31, |
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|
|
2024 |
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|
2023 |
|
Outstanding options to purchase Common Stock |
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|
2,811,144 |
|
|
|
4,273,881 |
|
Restricted Stock Units |
|
|
483,939 |
|
|
|
1,415,104 |
|
Warrants to purchase preferred stock (as converted to warrants to purchase Common Stock) |
|
|
220,529 |
|
|
|
294,300 |
|
Warrants to purchase Common Stock |
|
|
— |
|
|
|
138,857 |
|
Shares of Common Stock issued upon the exercise of Public Warrants |
|
|
18,759,696 |
|
|
|
— |
|
Earn-Out Shares |
|
|
9,000,000 |
|
|
|
— |
|
Convertible Notes |
|
|
— |
|
|
|
2,552,080 |
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Total |
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|
31,275,308 |
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|
8,674,222 |
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