Quarterly report pursuant to Section 13 or 15(d)

Net Profit (Loss) Per Share (Tables)

v3.21.2
Net Profit (Loss) Per Share (Tables)
9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Summary of Earnings Per Share, Basic and Diluted

The Company computes basic net profit (loss) per share using net profit (loss) attributable to Company common stockholders and the weighted-average number of common shares outstanding during each period. Diluted earnings per share includes shares issuable upon exercise of warrants, outstanding stock options, stock-based awards, and earnout awards where the conversion of such instruments would be dilutive. The Company assessed the dilutive effect of potential common shares under the treasury stock method for warrants, outstanding stock options, and stock-based awards, but excluding contingently issuable shares for the Markforged Earnout Shares.

 

As a result of the Merger, the Company has retroactively adjusted the weighted-average number of shares of common stock outstanding prior to the Merger closing date by multiplying them by the Exchange Ratio used to determine the number of shares of common stock into which they converted.

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(in thousands, except per share amounts)

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net profit (loss) and comprehensive income (loss)

 

$

21,703

 

 

$

(3,719

)

 

$

594

 

 

$

(14,653

)

Net profit (loss) attributable to common stockholders - Basic & Diluted

 

 

21,703

 

 

 

(3,719

)

 

 

594

 

 

 

(14,653

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding - Basic

 

 

162,942,990

 

 

 

38,545,607

 

 

 

81,373,265

 

 

 

38,149,992

 

Add: Weighted average unvested options outstanding

 

 

4,148,330

 

 

 

-

 

 

 

4,033,901

 

 

 

-

 

Weighted average shares outstanding - Diluted

 

 

167,091,320

 

 

 

38,545,607

 

 

 

85,407,166

 

 

 

38,149,992

 

Net profit (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.13

 

 

$

(0.10

)

 

$

0.01

 

 

$

(0.38

)

Diluted

 

 

0.13

 

 

 

(0.10

)

 

 

0.01

 

 

 

(0.38

)

Summary of Dilutive Securities are Excluded from the Denominator :

 

 

 

Three and Nine Months Ended September 30,

 

 

 

2021

 

 

2020

 

Convertible preferred stock

 

 

-

 

 

 

107,522,670

 

Unvested RSUs

 

 

3,844,737

 

 

 

-

 

Unvested awards

 

 

-

 

 

 

7,669,939

 

Warrants

 

 

8,525,000

 

 

 

180,928

 

Contingently issuable earnout shares

 

 

14,666,667

 

 

 

-

 

Total

 

 

27,036,404

 

 

 

115,373,537