NET LOSS PER SHARE

3 Months Ended

Mar. 27, 2022

During the thirteen weeks ended March 27, 2022, the rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock were identical, except with respect to voting. As the liquidation and dividend rights were identical, the undistributed earnings were allocated on a proportionate basis and the resulting net loss per share attributable to common stockholders were, therefore, the same for both Class A and Class B common stock on an individual or combined basis.

The following table sets forth the computation of net loss per common share:


	Thirteen weeks ended
	March 27, 2022		March 28, 2021
(dollar amounts in thousands)
Numerator:
Net loss	$	(49,200)	$	(30,045)
Denominator:
Weighted-average common shares outstanding—basic and diluted	109,472,050		16,962,694
Earnings per share—basic and diluted	$	(0.45)	$	(1.77)

The Company’s potentially dilutive securities, which include preferred stock and options to purchase common stock, have been excluded from the computation of diluted net loss per share as the effect would be antidilutive. Therefore, the weighted-average number of common shares outstanding used to calculate both basic and diluted net loss per share is the same. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect:


	Thirteen weeks ended
	March 27, 2022	March 28, 2021
Options to purchase common stock	13,924,612	13,872,094
Preferred stock	—	71,466,912
Time-based vesting restricted stock units	2,555,187	—
Performance stock units	6,621,428	—
Contingently issuable stock	714,285	—
Total common stock equivalents	23,815,512	85,339,006