Earnings Per Share (Tables)

3 Months Ended

Dec. 31, 2021

Schedule of Reconciliations of the Numerators and Denominators Used to Compute Basic and Diluted Earnings Per Share

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock for the three months ended December 31, 2021 and 2020:


	Three months ended December 31,
	2021		2020)1)
Basic(2) and diluted(3) net loss per share:
Numerator
Net loss	$	(3,681)	$	(3,022)
Less: Net loss attributable to non-controlling interests	(1,153)		(1,024)
Net loss attributable to Class A common stockholders	$	(2,528)	$	(1,998)
Denominator
Weighted average shares of Class A common stock outstanding	22,042,801		19,129,056
Basic and diluted net loss per share	$	(0.11)	$	(0.10)

__________________________

1.Effective October 1, 2020, the Company's financial statements are presented in accordance with ASU 2021-08, Accounting Standards Codification Topic 805, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. See Note 2 to the interim consolidated financial statements for a description of the recently adopted accounting pronouncement.

2.Excludes 18,869 restricted Class A common stock units for the three months ended December 31, 2020.

3.For the three months ended December 31, 2021 and 2020, all potentially dilutive securities were anti-dilutive, so diluted net loss per share was equivalent to basic net loss per share. The following securities were excluded from the weighted average effect of dilutive securities in the computation of diluted net loss per share of Class A common stock:

a.10,222,946 and 11,668.199 shares of weighted average Class B common stock for the three months ended December 31, 2021 and 2020, respectively, along with the reallocation of net income assuming conversion of these shares, were excluded because the effect would have been anti-dilutive,

b.5,444,557 and 1,251,600 stock options for the three months ended December 31, 2021 and 2020, respectively, were excluded because the exercise price of these stock options exceeded the average market price of our Class A common stock during the period (“out-of-the-money”) and the effect of including them would have been anti-dilutive,

c.606,942 and 1,212,584 shares for the three months ended December 31, 2021 and 2020, respectively, resulting from estimated stock option exercises as calculated by the treasury stock method were excluded because of the effect of including them would have been anti dilutive, and 18,869 restricted Class A common units for the three months ended December 31, 2020 were excluded because the effect of including them would have been anti-dilutive.