Black Rifle Coffee Company Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Share

Net Loss Per Share

9 Months Ended

Sep. 30, 2024

Basic net loss per share is calculated by dividing net loss attributable to Class A Common Stock by the weighted-average shares of Class A Common Stock outstanding without consideration for potential dilutive securities. Diluted net loss per share represents basic net loss per share adjusted to include the potentially dilutive effect of outstanding unvested share awards, warrants, Common Units and Restricted Common Units that are exchangeable into shares of Class A Common Stock. Diluted net loss per share is computed by dividing the net loss attributable to Class A Common Stock by the weighted-average number of shares of Class A Common Stock outstanding for the period determined using the treasury stock method and if-converted method, as applicable. Shares of Class B Common Stock do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted loss per share of Class B Common Stock under the two-class method has not been presented.

The following table sets forth the computation of basic and diluted net loss per share (in thousands, except unit/share and per unit/share amounts, unaudited):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator:
Net loss	$	(1,397)	$	(10,694)	$	(916)	$	(42,680)
Less: Net loss attributable to non-controlling interests	(862)		(7,462)		(446)		(30,420)
Net loss attributable to Class A Common Stock - basic and diluted	$	(535)	$	(3,232)	$	(470)	$	(12,260)

Denominator:
Weighted-average shares of Class A Common Stock outstanding	72,154,931		61,964,157		68,904,034		59,738,542







Net loss per share attributable to Class A common stockholders, basic and diluted	$	(0.01)	$	(0.05)	$	(0.01)	$	(0.21)

The Company excluded the following potentially dilutive securities, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to Class A common shareholders because including them would have had an antidilutive effect:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Stock options	5,562,950	3,614,136	5,562,950	3,614,136
Common Units	135,473,335	148,395,692	135,473,335	148,395,692
RSUs	2,365,173	2,008,225	2,365,173	2,008,225
PSUs	8,462,412	8,462,412	8,462,412	8,462,412
Incentive Units	1,187,537	9,210	1,187,537	9,210
Employee Stock Purchase	78,287	98,710	78,287	98,710
Total units excluded from computation of diluted net loss per share	153,129,694	162,588,385	153,129,694	162,588,385