Quarterly report pursuant to Section 13 or 15(d)

Net Profit (Loss) Per Share (Tables)

v3.22.2
Net Profit (Loss) Per Share (Tables)
6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Summary of Earnings Per Share, Basic and Diluted

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 June 30,

 

 

Six Months Ended June 30,

 

(in thousands, except per share amounts)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net profit (loss) and comprehensive income (loss)

 

$

4,075

 

 

$

(11,090

)

 

$

8,314

 

 

$

(21,109

)

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

 

 

4,075

 

 

 

(11,090

)

 

 

8,314

 

 

 

(21,109

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding - Basic

 

 

188,102,342

 

 

 

39,855,379

 

 

 

187,247,566

 

 

 

39,649,848

 

Add: Weighted average unvested options outstanding

 

 

636,975

 

 

 

 

 

 

581,279

 

 

 

 

Add: Dilutive effect of restricted units issued

 

 

137,446

 

 

 

 

 

 

500,486

 

 

 

 

Weighted average shares outstanding - Diluted

 

 

188,876,763

 

 

 

39,855,379

 

 

 

188,329,331

 

 

 

39,649,848

 

Net profit (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.02

 

 

$

(0.28

)

 

$

0.04

 

 

$

(0.53

)

Diluted

 

 

0.02

 

 

 

(0.28

)

 

 

0.04

 

 

 

(0.53

)

Summary of Dilutive Securities are Excluded from the Denominator The following dilutive securities are excluded from the denominator:

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Convertible preferred stock

 

 

 

 

 

107,683,976

 

 

 

 

 

 

107,683,976

 

Unvested RSUs

 

 

5,585,756

 

 

 

1,419,093

 

 

 

5,096,729

 

 

 

1,419,093

 

Unvested option awards

 

 

5,155,894

 

 

 

12,142,483

 

 

 

2,577,947

 

 

 

12,142,483

 

Warrants

 

 

8,524,984

 

 

 

 

 

 

8,524,984

 

 

 

 

Contingently issuable earnout shares

 

 

14,666,667

 

 

 

 

 

 

14,666,667

 

 

 

 

Total

 

 

33,933,301

 

 

 

121,245,552

 

 

 

30,866,327

 

 

 

121,245,552