XML 24 R14.htm IDEA: XBRL DOCUMENT

Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Earnings (loss) per share

Note 7 — Earnings (loss) per share

Basic and diluted earnings (loss) per share calculations are calculated on the basis of the weighted average number of shares of the Company’s common stock outstanding during the respective periods. Diluted earnings (loss) per share give effect to all dilutive potential common shares outstanding during the period using the treasury stock method for stock options and other potentially dilutive securities and the if-converted method for redeemable convertible preferred stock prior to the Business Combination. In computing diluted earnings (loss) per share, the average fair value of the Company’s common stock for the period is used to determine the number of shares assumed to be purchased from the exercise price of the options. Purchases of treasury stock reduce the outstanding shares commencing on the date that the stock is purchased. Common stock equivalents are excluded from the calculation when a loss is incurred as their effect would be anti-dilutive.

		Three months ended June 30,								Six months ended June 30,
		2021				2020				2021				2020

Numerator - Basic EPS:
Net loss		$	(8,304	)		$	(4,317	)		$	(27,059	)		$	(16,110	)
Preferred dividends and accretion of issuance costs			-				(4,354	)			-				(8,591	)
Net loss attributable to common stockholders - basic			(8,304	)			(8,671	)			(27,059	)			(24,701	)

Denominator - Basic EPS:
Weighted–average shares – basic			52,566,608				13,164,675				50,327,141				13,164,675

Net loss per share attributable to common stockholders – basic		$	(0.16	)		$	(0.66	)		$	(0.54	)		$	(1.88	)

Numerator - Diluted EPS:
Net loss		$	(8,304	)		$	(4,317	)		$	(27,059	)		$	(16,110	)
Preferred dividends and accretion of issuance costs			-				(4,354	)			-				(8,591	)
Decrease in fair value of Private Placement Warrants			(1,784	)			-				-				-
Net loss attributable to common stockholders - diluted			(10,088	)			(8,671	)			(27,059	)			(24,701	)

Denominator - Diluted EPS:
Weighted–average shares – basic			52,566,608				13,164,675				50,327,141				13,164,675
Incremental common shares from assumed exercise of Private Placement Warrants			401,846				-				-				-
Weighted–average shares – diluted			52,968,454				13,164,675				50,327,141				13,164,675

Net loss per share attributable to common stockholders – diluted		$	(0.19	)		$	(0.66	)		$	(0.54	)		$	(1.88	)

For the three and six months ended June 30, 2021 and 2020, the following share equivalents were excluded from the computation of diluted net loss per share as the inclusion of such shares would be anti-dilutive due to the net loss incurred during each period and for the Private Placement Warrants, due to the change in fair value of warrant liability resulting in an increase to net loss for the six months ended June 30, 2021. Common shares issuable for warrants, options, and restricted stock units represent the total amount of outstanding warrants, stock options, and restricted stock units at June 30, 2021 and 2020.

		Three months ended June 30,								Six months ended June 30,
		2021				2020				2021				2020
Antidilutive shares excluded:
Options			4,737,222				2,566,312				4,737,222				2,566,312
Restricted Stock Units			772,284				-				772,284				-
Warrants			3,054,203				-				6,730,203				-
Series A Preferred Stock			-				18,382,847				-				18,382,847
			8,563,709				20,949,159				12,239,709				20,949,159