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Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share

Schedule of components of the calculations of basic and diluted earnings per share:

The following table provides the components of the calculations of basic and diluted earnings per share (in thousands, except share amounts):


		December 31,
		2023			2022				2021
Numerator:
Net loss		$	(1,368,833)		$	(724,008)		$	(459,965)
Denominator:
Weighted average number of common stock outstanding			595,468,419			579,716,708			558,182,177

Schedule of potential dilutive common shares


		At December 31,
		2023		2022		2021
Stock options outstanding (1)		39,261,362		27,598,269		23,806,909
Restricted stock and restricted stock units outstanding (2)		6,732,884		6,276,376		4,851,873
Common stock warrants (3)		78,561,263		88,774,725		80,017,181
Convertible Senior Notes (4)		39,170,766		39,170,766		39,170,766
Number of dilutive potential shares of common stock		163,726,275		161,820,136		147,846,729

(1)	During the years ended December 31, 2023, 2022, and 2021, the Company granted options for 13,254,689, 4,761,724, and 16,502,335 shares of common stock, respectively.

(2)	During the years ended December 31, 2023, 2022, and 2021, the Company granted 4,131,193, 4,289,682, and 1,894,356, shares of restricted stock and restricted stock units, respectively.

(3)

In August 2022, the Company issued a warrant to acquire up to 16,000,000 shares of the Company’s common stock as part of a transaction agreement with Amazon, subject to certain vesting events, as described in Note 17, “Warrant Transaction Agreements”. The warrant had no shares exercised of the Company’s common stock as of December 31, 2023.

In April 2017, the Company issued a warrant to acquire up to 55,286,696 of the Company’s common stock as part of a transaction agreement with Amazon, subject to certain vesting events, as described in Note 17, “Warrant Transaction Agreements”. The warrant was exercised with respect to 34,917,912 shares and 24,704,450 shares of the Company’s common stock as of December 31, 2023 and 2022, respectively.

In July 2017, the Company issued a warrant to acquire up to 55,286,696 of the Company’s common stock as part of a transaction agreement with Walmart, subject to certain vesting events, as described in Note 17, “Warrant Transaction Agreements”. The warrant had been exercised with respect to 13,094,217 shares of the Company’s common stock as of December 31, 2023 and 2022.

(4)	In May 2020, the Company issued $212.5 million in aggregate principal amount of the 3.75% Convertible Senior Notes due 2025 (the “3.75% Convertible Senior Notes”). There were no other conversions for the years ended December 31, 2023 and 2022.