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Loss Per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Loss Per Share

14. LOSS PER SHARE

Basic loss 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 loss 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 and assumed conversion of Class B common stock into shares of Class A common stock on a one-for-one basis using the if-converted method.

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted loss per share of Class A common stock:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

(in thousands, except for share and per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss and comprehensive loss

 

$

(2,842

)

 

$

(11,250

)

 

$

(17,002

)

 

$

(19,171

)

 

Less: net loss attributable to non-controlling interests

 

 

315

 

 

 

3,033

 

 

 

2,760

 

 

 

4,932

 

 

Add: adjustment to reallocate net loss to controlling interest

 

 

(7

)

 (1)

 

(19

)

 (1)

 

(6

)

(1)

 

603

 

(1)

Net loss to Zevia PBC - basic

 

$

(2,534

)

 

$

(8,236

)

 

$

(14,248

)

 

$

(13,636

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares of Class A common stock outstanding – basic

 

 

59,264,182

 

 

 

50,144,198

 

 

 

57,738,722

 

 

 

49,317,058

 

 

Add: weighted average shares of vested and unreleased RSUs

 

 

226,076

 

 (2)

 

610,272

 

 (2)

 

299,058

 

(2)

 

757,933

 

(2)

Weighted-average basic and diluted shares

 

 

59,490,258

 

 

 

50,754,470

 

 

 

58,037,780

 

 

 

50,074,992

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss per share of Class A common stock – basic

 

$

(0.04

)

 

$

(0.16

)

 

$

(0.25

)

 

$

(0.27

)

 

Loss per share of Class A common stock – diluted

 

$

(0.04

)

 

$

(0.16

)

 

$

(0.25

)

 

$

(0.27

)

 

(1) The numerator for the basic and diluted loss per share is adjusted for additional losses being attributed to controlling interest as a result of the impacts of vested but unreleased RSUs being included in the denominator of the basic and diluted loss per share.

(2) The denominator for basic and diluted loss per share includes vested and unreleased RSUs as there are no conditions that would prevent these RSUs from being issued in the future as shares of Class A common stock except for the mere passage of time.

The following weighted average outstanding shares were excluded from the computation of diluted loss per share available to Class A common stockholders as they were anti-dilutive:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Zevia LLC Class B units exchangeable to shares of Class A common stock

 

 

13,502,398

 

 

 

20,952,967

 

 

 

14,575,937

 

 

 

21,278,538

 

Stock options

 

 

3,067,441

 

 

 

3,571,659

 

 

 

3,183,110

 

 

 

3,480,778

 

RSUs

 

 

4,000,334

 

 

 

2,638,287

 

 

 

3,538,498

 

 

 

2,775,861