Annual report pursuant to Section 13 and 15(d)

Basic and Diluted Net Loss per Share

v3.23.1
Basic and Diluted Net Loss per Share
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Basic and Diluted Net Loss per Share Basic and Diluted Net Income (Loss) per Share
The following table sets forth the computation of the Company’s basic and diluted net income (loss) per share to common stockholders:
December 31,
2022 2021
(In thousands, except share per share data)
Numerator:
Net income (loss) $ 10,020  $ (107,091)
Denominator:
Basic weighted average shares outstanding 185,079,101  58,688,496 
Effect of dilutive securities:
Common stock warrants 7,999  — 
Restricted stock units 345,714  — 
Common stock options 16,742,089  — 
Diluted weighted average shares outstanding 202,174,903  58,688,496 
Net income (loss) per share
    Basic $ 0.05  $ (1.82)
    Diluted $ 0.05  $ (1.82)
The following potentially dilutive shares of common stock equivalents “on an as-converted basis” were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have had an antidilutive effect:
December 31,
2022 2021
(per share data)
Common stock warrants 13,075,000  13,075,000 
Restricted stock units issued and outstanding 3,819,727  4,041,346 
Common stock options issued and outstanding 725,711  21,191,226 
Total potentially dilutive common share equivalents 17,620,438  38,307,572 
Total potentially dilutive common share equivalents for the years ended December 31, 2022 and 2021, exclude 21,758,149 shares related to the earnout liability as these shares are contingently issuable upon meeting certain triggering events.