| Summary of Earnings Per Share, Basic and Diluted |
Diluted earnings per share include shares issuable upon exercise of outstanding stock options and stock-based awards where the conversion of such instruments would be dilutive.
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Three Months Ended September 30, |
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|
Nine Months Ended September 30, |
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(in thousands, except per share amounts) |
|
2023 |
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2022 |
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2023 |
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2022 |
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Numerator: |
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Net loss |
|
$ |
(51,362 |
) |
|
$ |
(22,970 |
) |
|
$ |
(89,369 |
) |
|
$ |
(14,656 |
) |
Net loss attributable to common stockholders - Basic & Diluted |
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|
(51,362 |
) |
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|
(22,970 |
) |
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|
(89,369 |
) |
|
|
(14,656 |
) |
Denominator: |
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Weighted average shares outstanding - Basic |
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197,410,137 |
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189,766,945 |
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196,391,315 |
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|
188,225,543 |
|
Add: Weighted average unvested options outstanding |
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— |
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— |
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— |
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— |
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Add: Dilutive effect of restricted units issued |
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— |
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— |
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— |
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— |
|
Weighted average shares outstanding - Diluted |
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|
197,410,137 |
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|
|
189,766,945 |
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|
196,391,315 |
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|
188,225,543 |
|
Net loss per common share: |
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Basic |
|
$ |
(0.26 |
) |
|
$ |
(0.12 |
) |
|
$ |
(0.46 |
) |
|
$ |
(0.08 |
) |
Diluted |
|
|
(0.26 |
) |
|
|
(0.12 |
) |
|
|
(0.46 |
) |
|
|
(0.08 |
) |
|
| Summary of Dilutive Securities are Excluded from the Denominator |
The following dilutive securities are excluded from the denominator:
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2023 |
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2022 |
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2023 |
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|
2022 |
|
Unvested RSUs |
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16,373,652 |
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|
|
12,313,957 |
|
|
|
12,329,954 |
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|
|
12,313,957 |
|
Unvested or unexercised option awards |
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|
11,137,280 |
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|
|
12,386,057 |
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|
|
11,188,213 |
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|
|
12,386,057 |
|
Warrants |
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|
8,524,984 |
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|
|
8,524,984 |
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|
|
8,524,984 |
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|
8,524,984 |
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Contingently issuable earnout shares |
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14,666,667 |
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|
14,666,667 |
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|
14,666,667 |
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|
14,666,667 |
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Total |
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50,702,583 |
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47,891,665 |
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46,709,819 |
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47,891,665 |
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