Quarterly report pursuant to Section 13 or 15(d)

Net Loss per Share

v3.22.1
Net Loss per Share
3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Net Loss per Share Net Loss per Share
Basic net loss per share is calculated by dividing net loss attributable to Class A common stockholders by the weighted-average shares of Class A common shares outstanding without the 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 income attributable to Class A common shareholders 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.

The Company analyzed the calculation of net loss per share for periods prior to the Business Combination on February 9, 2022 and determined that it resulted in values that would not be meaningful to the users of the consolidated financial statements, as the capital structure completely changed as a result of the Business Combination. Therefore, net loss per share information has not been presented for periods prior to the Business Combination. The basic and diluted net loss per share attributable to Class A common shareholders for the three months ended March 31, 2022, as presented on the unaudited consolidated statements of operations, represents only the period after the Business Combination to March 31, 2022.

The following table sets forth the computation of basic and diluted net loss per share for the period from February 9, 2022 through March 31, 2022:

Numerator:
Net loss for the period February 9, 2022 through March 31, 2022 $ (254,136)
Less: Net loss attributable to non-controlling interests for the period from February 9, 2022 through March 31, 2022 (193,906)
Net loss for the period from February 9, 2022 through March 31, 2022 attributable to Class A Common Stock - basic and diluted $ (60,230)
Denominator:
Weighted average shares of Class A Common Stock outstanding 44,254,837 
Net loss per share attributable to Class A common stockholders, basic and diluted $ (1.36)

The Company excluded the following potentially dilutive securities, presented based on amounts outstanding as of March 31, 2022, from the computation of diluted net loss per share attributable to Class A common shareholders because including them would have had an antidilutive effect:

March 31, 2022
Stock options 578,290 
Warrants 17,766,641 
Applicable Premium shares 826,506 
Class C Common Stock 694,063 
Common Units 149,032,886 
Restricted Common Units 10,620,625 
Incentive Units 16,445 
179,535,456