Basic and Diluted Net Loss Per Share

9 Months Ended

Sep. 30, 2021

Basic and Diluted Net Loss Per ShareThe following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders, which excludes Sponsor Vesting Shares which are legally outstanding, but subject to return to the Company. Basic net income (loss) per share is computed by dividing net income (loss) for the period by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by computed by dividing net income (loss) for the period by the weighted-average number of common shares outstanding during the period, plus the dilutive effect of the convertible preferred stock warrants, as applicable pursuant to the treasury stock method, and the

convertible notes, as applicable pursuant to the if-converted method. The following table sets forth the computation of basic and diluted net income (loss) per share:


(In thousands, except for share and per share amounts)	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator:
Net income (loss) attributable to common stockholders—Basic	$	27,893	$	(3,106)	$	36,853	$	(6,769)

Net income (loss) attributable to common stockholders—Diluted	$	27,893	$	(3,106)	$	36,853	$	(6,769)
Denominator:
Weighted-average common shares outstanding—Basic (1)	136,749,956		62,545,275		89,244,640		62,544,818
Stock options	4,490,009		—		4,784,416		—
Warrants to purchase redeemable convertible preferred stock	—		—		—		—
Weighted-average common shares outstanding—Diluted (1)	141,239,965		62,545,275		94,029,056		62,544,818
Net income (loss per share)—Basic	$	0.20	$	(0.05)	$	0.41	$	(0.11)
Net income (loss per share)—Diluted	$	0.20	$	(0.05)	$	0.39	$	(0.11)

(1)Excludes weighted-average Sponsor Vesting Shares subject to return of 4,500,000 and 1,615,385 shares as of the three months and nine months ended September 30, 2021, respectively.

Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of an entity. As of September 30, 2021, options for 1,481,531 shares of common stock, earnout shares for 25,000,000 shares of common stock, and Sponsor Vesting Shares for 4,500,000 shares of common stock were excluded from the table below because they are subject to performance conditions that were not achieved as of such date.

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share attributable to common stockholder for the periods presented because including them would have been antidilutive:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2021	2020	2021	2020
Options to purchase common stock	—	2,847,629	—	2,847,629
Warrants to purchase common stock	35,476,667	—	35,476,667	—
Warrants to purchase redeemable convertible preferred stock, as-converted	—	5,554,470	—	5,554,470