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NET LOSS PER SHARE | 12 Months Ended
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Dec. 31, 2021
Earnings Per Share [Abstract] |
NET LOSS PER SHARE |
18. | NET LOSS PER SHARE
Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during each period. While outstanding, each series of Preferred Stock was considered to be a participating security. Therefore, the Company applies the two-class method in calculating its net loss per share for periods when the Company generates net income. Net losses are not allocated to the Preferred Stockholders, as they were not contractually obligated to share in the Company’s losses. Diluted net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of common and dilutive common equivalent shares outstanding for the period using the treasury-stock method or the as-converted method, or two-class method for participating securities, whichever is more dilutive. Potentially dilutive shares are comprised of Preferred Stock, Preferred Stock warrants, common stock warrants, restricted stock units, stock options, and Earnout Shares issuable upon the achievement of the Stock Price Target (see Note 1). For the years ended December 31, 2021 and 2020, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss and potentially dilutive shares being anti-dilutive. The following table summarizes the computation of basic and diluted net loss per share attributable to common stockholders of the Company for the years ended December 31:
|  | Years Ended December 31, |
|  | 2021 |  |  | 2020 |
Numerator |  |  |  |  |  |  |  |
Net loss attributable to common shareholders-basic and diluted |  | $ | (117,320 | ) |  | $ | (55,005 | )
Denominator |  |  |  |  |  |  |  |
Weighted average common shares outstanding-basic and diluted |  |  | 209,895,135 |  |  |  | 75,414,888 |
Net loss per share attributable to common stockholders-basic and diluted |  | $ | (0.56 | ) |  | $ | (0.73 | )
The following equity shares were excluded from the calculation of diluted net loss per share attributable to common stockholders because their effect would have been anti-dilutive for the years ended December 31, 2021 and 2020:
|  | December 31, |
|  | 2021 |  |  | 2020 |
Legacy Rocket Lab preferred stock |  |  | — |  |  |  | 283,843,764 |
Legacy Rocket Lab preferred stock warrants |  |  | — |  |  |  | 1,123,959 |
Legacy Rocket Lab common stock warrants |  |  | — |  |  |  | 585,399 |
Stock options and restricted stock units |  |  | 34,292,250 |  |  |  | 22,088,726 |
Public and Private Warrants |  |  | 16,264,516 |  |  |  | — |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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