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Net Loss Per Share

6 Months Ended

Jun. 30, 2022

Net Loss Per Share [Abstract]

Net Loss Per Share

Note 17 — Net Loss Per Share

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

Basic net income (loss) per share is calculated using the weighted-average number of Common Stock outstanding during the periods. Net income (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. For periods during which the Company recorded a net loss, diluted net income (loss) per share is equal to basic net income 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 income (loss) per share were as follows:

		Three Months ended June 30,								Six Months ended June 30,
(In thousands, except share and per share data)		2022				2021				2022				2021
Numerator:
Net loss attributable to Agrify Corporation		$	(74,604	)		$	(5,636	)		$	(72,824	)		$	(9,446	)
Accrued dividend attributable to Preferred A Stockholders			—				—				—				(61	)
Net loss available for Common Stockholders		$	(74,604	)		$	(5,636	)		$	(72,824	)		$	(9,507	)
Denominator:
Weighted-average common shares outstanding – basic and diluted			132,911				101,721				127,956				83,310
Net loss per share attributable to Common Stockholders – basic and diluted		$	(561.31	)		$	(55.41	)		$	(569.13	)		$	(114.12	)

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:

		June 30, 2022				June 30, 2021
Options outstanding			16,455				19,848
Warrants outstanding			50,559				4,830
			67,014				24,678