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Basis of Presentation and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Schedule of Fair Value Measurement of Financial Assets and Liabilities

The following table presents the Company’s assets and liabilities, measured and recognized at fair value on a recurring basis, classified under the appropriate level of the fair value hierarchy as of March 31, 2023 (in thousands):

Schedule of Fair Value Measurement of Financial Assets and Liabilities

		As of March 31, 2023
		Total carrying and estimated fair value				Quated prices in active markets (Level 1)				Significant other observable inputs (Level 2)				Significant other observable inputs (Level 3)
Assets:
Marketable equity securities		$	553			$	553			$	-			$	-
Total		$	553			$	553			$	-			$	-
Liabilities:
Contingent consideration liabilities		$	27,355			$	-			$	-			$	27,355
Total		$	27,355			$	-			$	-			$	27,355

The following table presents the Company’s assets and liabilities, measured and recognized at fair value on a recurring basis, classified under the appropriate level of the fair value hierarchy as of December 31, 2022 (in thousands):

		As of December 31, 2022
		Total carrying and estimated fair value				Quated prices in active markets (Level 1)				Significant other observable inputs (Level 2)				Significant other observable inputs (Level 3)
Assets:
Marketable equity securities		$	433			$	433			$	-			$	-
Total		$	433			$	433			$	-			$	-
Liabilities:
Contingent consideration liabilities		$	45,662			$	-			$	-			$	45,662
Total		$	45,662			$	-			$	-			$	45,662

Schedule of Cash and Cash Equivalents and Restricted Cash

Schedule of Cash and Cash Equivalents and Restricted Cash

		March 31,				December 31,
		2023				2022
Cash and cash equivalents		$	11,803			$	19,993
Restricted cash			1,700				1,700
Cash from discontinuing operations			-				1,510
Cash, cash equivalents and restricted cash shown in the statements of cash flows		$	13,503			$	23,203

Schedule of Common Stock Computation of Diluted Net Loss Per Share of Common Stock

The following table presents the calculation of basic and diluted loss per share of common stock (in thousands):

Schedule of Common Stock Computation of Diluted Net Loss Per Share of Common Stock

		2023				2022
		Three Months Ended
		March 31,
		2023				2022
Numerator:
Net income (loss) from continuing operations attributable to Oncocyte Corporation		$	5,959			$	(3,413	)
Accretion of Series A redeemable convertible preferred stock			(230	)			-
Undistributed earnings from continuing operations allocated to participating securities			(830	)			-
Net income (loss) from continuing operations attributable to common stockholders - basic			4,899				(3,413	)
Add: undistributed earnings from continuing operations allocated to participating securities			830				-
Reallocation of undistributed earnings from continuing operations to participating securities			(829	)			-
Net income (loss) from continuing operations attributable to common stockholders - diluted			4,900				(3,413	)
Net loss from discontinued operations attributable to Oncocyte Corporation			(2,926	)			(6,878	)
Undistributed losses from discontinued operations allocated to participating securities			424				-
Net loss from discontinued operations attributable to common stockholders - basic			(2,502	)			(6,878	)
Add: undistributed losses from discontinued operations allocated to participating securities			(424	)			-
Reallocation of undistributed losses from discontinued operations to participating securities			424				-
Net loss from discontinued operations attributable to common stockholders - diluted			(2,502	)			(6,878	)
Net income (loss) attributable to common stockholders - basic			2,397				(10,291	)
Add: undistributed earnings allocated to participating securities			406				-
Reallocation of undistributed earnings to participating securities			(405	)			-
Net income (loss) attributable to common stockholders - diluted		$	2,398			$	(10,291	)
Denominator:
Weighted average common shares outstanding - basic			119,150				92,243
Dilutive potential common shares:
Restricted stock units			103				-
Weighted average common shares outstanding - diluted			119,253				92,243
Net income (loss) from continuing operations attributable to common stockholders per share - basic		$	0.04			$	(0.04	)
Net loss from discontinued operations attributable to common stockholders per share - basic		$	(0.02	)		$	(0.07	)
Net income (loss) attributable to common stockholders per share - basic		$	0.02			$	(0.11	)
Net income (loss) from continuing operations attributable to common stockholders per share - diluted		$	0.04			$	(0.04	)
Net loss from discontinuing operations attributable to common stockholders per share - diluted		$	(0.02	)		$	(0.07	)
Net income (loss) attributable to common stockholders per share - diluted		$	0.02			$	(0.11	)
Anti-dilutive potential common shares excluded from the computation of diluted net loss per common share:
Stock options			12,352				7,125
RSUs			216				85
Warrants			250				1,789
Total			12,818				8,984

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Tabular disclosure of the effect of income (loss) on basic earnings per share.

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