NET LOSS PER SHARE

9 Months Ended

Sep. 25, 2022

During the thirteen and thirty-nine weeks ended September 25, 2022 and September 26, 2021, 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				Thirty-nine weeks ended
	September 25, 2022		September 26, 2021		September 25, 2022		September 26, 2021
(dollar amounts in thousands)
Numerator:
Net loss	$	(47,397)	$	(30,066)	$	(136,630)	$	(86,994)
Denominator:
Weighted-average common shares outstanding—basic and diluted	110,375,126		19,084,124		109,848,272		17,836,525
Earnings per share—basic and diluted	$	(0.43)	$	(1.58)	$	(1.24)	$	(4.88)

The Company’s potentially dilutive securities, which include preferred stock, time-based vesting restricted stock units, performance stock units, contingently issuable 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		Thirty-nine weeks ended
	September 25, 2022	September 26, 2021	September 25, 2022		September 26, 2021
Options to purchase common stock	13,410,616	14,117,593	13,410,616		14,117,593
Preferred stock	—	71,466,912	—	—	71,466,912
Time-based vesting restricted stock units	2,063,652	—	2,063,652		—
Performance stock units	6,621,428	—	6,621,428		—
Contingently issuable stock	714,285	—	714,285		—
Total common stock equivalents	22,809,981	85,584,505	22,809,981		85,584,505