XML 28 R16.htm IDEA: XBRL DOCUMENT
v3.21.2

NET LOSS PER SHARE | 9 Months Ended
--- | ---
Sep. 30, 2021
NET LOSS PER SHARE [Abstract] |
NET LOSS PER SHARE | 10. NET LOSS PER SHARE Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock of the Company outstanding during the period. Diluted net loss per share is computed by giving effect to all common share equivalents of the Company, including outstanding Convertible Preferred Stock and stock options, to the extent dilutive. Basic and diluted net loss per share was the same for each period presented as the inclusion of all common share equivalents would have been anti-dilutive. The following table presents the calculation of basic and diluted net loss per share for the Company’s common stock:
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Numerator |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (18,091 | ) |  | $ | (8,557 | ) |  | $ | (65,567 | ) |  | $ | (27,068 | )
Numerator for basic and diluted EPS - loss attributable to common stockholders |  | $ | (18,091 | ) |  | $ | (8,557 | ) |  | $ | (65,567 | ) |  | $ | (27,068 | )
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  |  | 136,456,848 |  |  |  | 5,360,497 |  |  |  | 60,104,891 |  |  |  | 5,350,771 |
Denominator for basic and diluted EPS - weighted-average common stock |  |  | 136,456,848 |  |  |  | 5,360,497 |  |  |  | 60,104,891 |  |  |  | 5,350,771 |
Basic and diluted net loss per share |  | $ | (0.13 | ) |  | $ | (1.60 | ) |  | $ | (1.09 | ) |  | $ | (5.06 | )
Since the Company was in a net loss position for all periods presented, the basic net loss per shares calculation excludes preferred stock as it does not participate in net losses of the Company. Additionally, net loss per share attributable to Class A and Class B common stockholders was the same on a basic and diluted basis, as the inclusion of all potential common equivalent shares outstanding would have been anti-dilutive. Anti-dilutive common equivalent shares were as follows:
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Outstanding options to purchase common stock |  |  | 8,126,177 |  |  |  | 7,978,697 |  |  |  | 8,126,177 |  |  |  | 7,978,697 |
Outstanding restricted stock units |  |  | 4,861,315 |  |  |  | - |  |  |  | 4,861,315 |  |  |  | - |
Outstanding warrants |  |  | 3,968,319 |  |  |  | - |  |  |  | 3,968,319 |  |  |  | - |
Outstanding convertible preferred stock (Series A through E) |  |  | - |  |  |  | 68,684,758 |  |  |  | - |  |  |  | 68,684,758 |
|  |  | 16,955,811 |  |  |  | 76,663,455 |  |  |  | 16,955,811 |  |  |  | 76,663,455 |  |
During the three months ended September 30, 2021, the Company identified a misstatement in the basic and diluted net loss per share calculation including the weighted-average common stock for the three and six months ended June 30, 2021. The Company has evaluated this correction in accordance with ASC 250-10-S99, Securities and Exchange Commission “SEC” Materials (formerly SEC Staff Accounting Bulletin 99, Materiality) and concluded that the correction was not material. The Company plans on adjusting the basic and diluted net loss per share calculation including the weighted-average common stock in its future filings such as the Form 10-K for the year ending December 31, 2021 and in Form 10-Q for the three and six months ending June 30, 2022. The adjustments to the Company’s previously issued condensed consolidated statements of operations and comprehensive loss and Note 10 to our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021 are as follows:
|  | Three months ended June 30, 2021 |  |  | Six months ended June 30, 2021 |
|  | As Reported |  |  | As Revised |  |  | As Reported |  |  | As Revised |
Denominator |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  |  | 11,696,084 |  |  |  | 36,890,502 |  |  |  | 8,629,355 |  |  |  | 21,296,162 |
Denominator for basic and diluted EPS - weighted-average common stock |  |  | 11,696,084 |  |  |  | 36,890,502 |  |  |  | 8,629,355 |  |  |  | 21,296,162 |
Basic and diluted net loss per share |  | $ | (3.05 | ) |  | $ | (0.97 | ) |  | $ | (5.50 | ) |  | $ | (2.23 | )

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration