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Net Loss Per Share
 9 Months Ended
Sep. 30, 2022
Net Loss Per Share [Abstract]  
Net Loss Per Share

Note 16 — Net Loss Per Share

 

Net loss per share calculations for all periods have been adjusted to reflect the Company’s reverse stock splits. Net loss per share was calculated based on the weighted-average number of its Common Stock then outstanding.

 

Basic net loss per share is calculated using the weighted-average number of Common Stock outstanding during the periods. Net loss per share, assuming dilution, is calculated using the weighted-average number of common shares outstanding and the dilutive effect of all potentially dilutive securities, including Common Stock equivalents and convertible securities. Net loss per share, assuming dilution, is equal to basic net loss per share because the effect of dilutive securities outstanding during the periods, including options and warrants computed using the treasury stock method, is anti-dilutive.

 

The components of basic and diluted net loss per share were as follows:

 

   Three Months Ended
September 30,		   Nine Months Ended
September 30,		 
(In thousands, except share and per share data)  2022   2021   2022   2021 
Numerator:                
Net loss attributable to Agrify Corporation  $(46,268)  $(9,758)  $(148,551)  $(19,204)
Accrued dividend attributable to Preferred A Stockholders   —    —    —    (61)
Net loss available for Common Stockholders  $(46,268)  $(9,758)  $(148,551)  $(19,265)
Denominator:                    
Weighted-average common shares outstanding – basic and diluted (1)   2,670,501    2,083,439    2,596,649    1,806,874 
Net loss per share attributable to Common Stockholders – basic and diluted (1)  $(17.33)  $(4.68)  $(57.21)  $(10.66)

 

(1) Periods presented have been adjusted to reflect the 1-for-1.581804 reverse stock split on January 12, 2021 and the 1-for-10 reverse stock split on October 18, 2022. Additional information regarding the reverse stock splits may be found in Note 1 – Overview, Basis of Presentation and Significant Accounting Policies, included elsewhere in the notes to the condensed consolidated financial statements.

 

The Company’s potential dilutive securities, which include stock options and warrants, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The Company excluded the following potential common shares equivalents presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect: 

 

   September 30,
2022		   December 31,
2021		 
Shares subject to outstanding Common Stock options   285,675    356,429 
Shares subject to unvested restricted stock units   159,300    
—
 
Shares subject to outstanding warrants   2,430,787    27,184 
    2,875,762    383,613