Markforged Holding Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Net Profit (Loss) Per Share

Net Profit (Loss) Per Share

3 Months Ended

Mar. 31, 2023

Note 16. Net (Loss) Profit Per Share

The Company computes basic net (loss) profit per share using net (loss) profit attributable to the Company’s common stockholders and the weighted-average number of common shares outstanding during each period. 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.


	Three Months Ended March 31,
(in thousands, except per share amounts)	2023			2022
Numerator:
Net (loss) profit	$	(19,019	)	$	4,239
Net (loss) profit attributable to common stockholders - Basic & Diluted		(19,019	)		4,239
Denominator:
Weighted average shares outstanding - Basic		195,369,245			186,383,312
Add: Weighted average unvested options outstanding		—			4,576,079
Add: Dilutive effect of restricted units issued		—			141,292
Weighted average shares outstanding - Diluted		195,369,245			191,100,683
Net (loss) profit per common share:
Basic	$	(0.10	)	$	0.02
Diluted		(0.10	)		0.02

For the three months ended March 31, 2023, the Company was in a net loss position, thus the effect of potentially dilutive securities, including non-vested stock options and warrants, was excluded from the denominator for the calculation of diluted net loss

per share because the inclusion of such securities would be antidilutive. The following dilutive securities are excluded from the denominator:


	Three Months Ended March 31,
	2023		2022
Unvested RSUs		10,393,221		4,607,701
Unvested or unexercised option awards		11,246,810		—
Warrants		8,524,984		8,524,984
Contingently issuable earnout shares		14,666,667		14,666,667
Total		44,831,682		27,799,352