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Loss Per Share | 9 Months Ended
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Sep. 30, 2022
Earnings Per Share [Abstract] |
Loss Per Share | 15. LOSS PER SHARE Basic earnings per share of Class A common stock is computed by dividing net loss attributable to the Company for the period by the weighted-average number of shares of Class A common stock outstanding during the same period. Diluted earnings per share of Class A common stock is computed by dividing net loss attributable to the Company by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities. There were no shares of Class A or Class B common stock outstanding prior to July 22, 2021, and therefore, no earnings per share information has been presented for any period prior to that date. Shares of the Company’s Class B common stock do not share in the earnings or losses attributable to Zevia PBC and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B common stock under the two-class method has not been presented. Shares of the Company’s Class B common stock are, however, considered potentially dilutive shares of Class A common stock because shares of Class B common stock, together with the related Zevia LLC Class B Common Units, are exchangeable into shares of Class A common stock on a one-for-one basis. Prior to the IPO, the Zevia LLC membership structure included various classes of preferred units. The Company analyzed the calculation of earnings per unit for periods prior to the IPO and determined that it resulted in values that would not be meaningful to the users of these condensed consolidated financial statements. Therefore, earnings per share information has not been presented for any period prior to the IPO. The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |  |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |  |
(in thousands, except for share and per share amounts) |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss and comprehensive loss |  | $ | (9,196 | ) |  | $ | (49,761 | ) |  | $ | (41,477 | ) |  | $ | (50,263 | ) |
Less: net loss attributable to Zevia LLC prior to the Reorganization Transactions |  |  | — |  |  | $ | 1,411 |  |  |  | — |  |  | $ | 1,913 |  |
Less: net loss attributable to non-controlling interests |  |  | 1,712 |  |  |  | 22,527 |  |  |  | 12,005 |  |  |  | 22,527 |  |
Net loss to Zevia PBC |  | $ | (7,484 | ) |  | $ | (25,823 | ) |  | $ | (29,472 | ) |  | $ | (25,823 | ) |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares of Class A common stock outstanding – basic |  |  | 44,072,985 |  |  |  | 34,440,982 |  |  |  | 40,393,978 |  |  |  | 34,440,982 |  |
Weighted-average shares of Class A common stock outstanding – diluted |  |  | 44,072,985 |  |  |  | 34,440,982 |  |  |  | 40,393,978 |  |  |  | 34,440,982 |  |
Loss per share of Class A common stock – basic |  | $ | (0.17 | ) |  | $ | (0.75 | ) | (1) | $ | (0.73 | ) |  | $ | (0.75 | ) | (1)
Loss per share of Class A common stock – diluted |  | $ | (0.17 | ) |  | $ | (0.75 | ) | (1) | $ | (0.73 | ) |  | $ | (0.75 | ) | (1)
(1) Represents earnings per share of Class A common stock and weighted-average shares of Class A common stock outstanding for the period from July 22,2021 through September 30, 2021, the period following the Reorganization Transactions and IPO. Zevia LLC Class B Common Units, stock options and restricted stock units were evaluated under the treasury stock method for potential dilutive effects and were determined to be anti-dilutive. The following weighted average outstanding shares were excluded from the computation of diluted net loss per share available to common stockholders:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Zevia LLC Class B Common Units exchangeable to shares of Class A common Stock |  |  | 24,394,109 |  |  |  | 30,113,152 |  |  |  | 26,936,871 |  |  |  | 30,113,152 |
Stock Options |  |  | 2,637,539 |  |  |  | 1,433,264 |  |  |  | 2,044,472 |  |  |  | 1,433,264 |
Restricted stock units |  |  | 2,911,356 |  |  |  | 7,993,444 |  |  |  | 3,742,307 |  |  |  | 7,993,444 |
Restricted stock units vested but unsettled |  |  | 1,865,507 |  |  |  | — |  |  |  | 1,761,485 |  |  |  | — |

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