NET LOSS PER SHARE

6 Months Ended

Jun. 25, 2023

During the thirteen and twenty-six weeks ended June 25, 2023 and June 26, 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				Twenty-six weeks ended
	June 25, 2023		June 26, 2022		June 25, 2023		June 26, 2022
(dollar amounts in thousands)
Numerator:
Net loss	$	(27,258)	$	(40,504)	$	(60,915)	$	(90,156)
Denominator:
Weighted-average common shares outstanding—basic and diluted	111,585,282		109,679,467		111,441,435		109,575,841
Earnings per share—basic and diluted	$	(0.24)	$	(0.37)	$	(0.55)	$	(0.82)

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		Twenty-six weeks ended
	June 25, 2023	June 26, 2022	June 25, 2023	June 26, 2022
Options to purchase common stock	13,873,261	13,635,836	13,873,261	13,635,836

Time-based vesting restricted stock units	1,451,429	2,617,084	1,451,429	2,617,084
Performance stock units	6,621,428	6,621,428	6,621,428	6,621,428
Contingently issuable stock	714,285	714,285	714,285	714,285
Total common stock equivalents	22,660,403	23,588,633	22,660,403	23,588,633