NET LOSS PER SHARE

6 Months Ended

Jun. 30, 2024

During the thirteen and twenty-six weeks ended June 30, 2024 and June 25, 2023, 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 30, 2024		June 25, 2023		June 30, 2024		June 25, 2023
(dollar amounts in thousands)
Numerator:
Net loss	$	(14,460)	$	(27,258)	$	(40,527)	$	(60,915)
Denominator:
Weighted-average common shares outstanding—basic and diluted	113,580,674		111,585,282		113,238,928		111,441,435
Earnings per share—basic and diluted	$	(0.13)	$	(0.24)	$	(0.36)	$	(0.55)

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 30, 2024	June 25, 2023	June 30, 2024	June 25, 2023
Options to purchase common stock	13,839,897	13,873,261	13,839,897	13,873,261

Time-based vesting restricted stock units	1,089,930	1,451,429	1,089,930	1,451,429
Performance stock units	6,300,000	6,621,428	6,300,000	6,621,428
Contingently issuable stock	506,243	714,285	506,243	714,285
Total common stock equivalents	21,736,070	22,660,403	21,736,070	22,660,403