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Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Note 10. Earnings (Loss) Per Share

Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share adjusts basic earnings per share for the potentially dilutive impact of stock options and warrants. As the Company has reported a loss for the three and nine months ended September 30, 2022, potentially dilutive securities including stock options and warrants, are antidilutive and accordingly, basic net loss per share equals diluted net loss per share.

The following table sets forth the computation of basic and diluted earnings (loss) per Class A Common Stock and Class B Common Stock (amounts in thousands, except per share amounts):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2022				2021				2022				2021
Numerator:
Net income (loss) attributable to common stockholders - Basic		$	(117,660	)		$	15,351			$	(302,841	)		$	21,260
Less: Change in fair value of assumed common stock warrant liabilities			—				(68,934	)			—				(168,674	)
Net loss attributable to common stockholders - Diluted		$	(117,660	)		$	(53,583	)		$	(302,841	)		$	(147,414	)
Denominator:
Weighted average Class A and Class B Common Stock outstanding - Basic			434,051				417,829				431,654				397,370
Effect of dilutive shares			—				2,820				—				6,999
Weighted average Class A and Class B Common Stock - Diluted			434,051				420,649				431,654				404,369
Net income (loss) per share attributable to Class A and Class B Common stockholders - Basic		$	(0.27	)		$	0.04			$	(0.70	)		$	0.05
Net loss per share attributable to Class A and Class B Common stockholders - Diluted		$	(0.27	)		$	(0.13	)		$	(0.70	)		$	(0.36	)

Basic and diluted earnings per share was the same for the three and nine months ended September 30, 2022, as the inclusion of all potential Class A Common Stock and Class B Common Stock outstanding would have been anti-dilutive.

The following table presents the potential common stock outstanding that was excluded from the computation of diluted net loss per share of common stock as of the periods presented because including them would have been anti-dilutive (amounts in thousands):

		As of September 30,
		2022				2021
Options outstanding			48,610				43,177
Restricted stock units			16,378				10,998
Total			64,988				54,175

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- References

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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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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