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Net Loss Per Share | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Net Loss Per Share | Net Loss Per Share Net loss per share is computed using the two-class method. Basic net loss per share is computed using the weighted average number of shares of common stock outstanding for the period. Diluted net loss per share reflects the effect of the assumed exercise of any stock options, the vesting of any restricted stock units, the exercise of any warrants (including the Public Warrants and the Private Placement Warrants), the conversion of any convertible debt (including the Notes), and the conversion of any convertible preferred stock, in each case only in the periods in which such effect would have been dilutive. Undistributed earnings were allocated to convertible preferred stock and shares of Class A common stock, Class B common stock, and Class C common stock based on the contractual participation rights of each as if earnings for the year had been distributed. Holders of convertible preferred stock outstanding prior to the Business Combination were entitled to noncumulative annual dividends at a rate of 8% of the applicable original issue price when, as and if declared by the Company’s board of directors and prior to and in preference of payment of dividends on the Company’s common stock. Thereafter, dividends would have been distributed among holders of Class A common stock, Class B common stock and convertible preferred stock on a proportionate basis, based on the number of shares of common stock that would be held by each holder if all shares of convertible preferred stock were converted to Class B common stock at the then-effective conversion rate. For the year ended December 31, 2023, net loss per share amounts were the same for Class A and Class B common stock because the holders of each class are entitled to equal per share dividends. For the years ended December 31, 2022 and 2021, net loss per share amounts were the same for Class A, Class B, and Class C common stock because the holders of each class are entitled to equal per share dividends. The table below presents the computation of basic and diluted net income (loss) per share:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Numerator: |  |  |  |  |
Net (loss) income from continuing operations | $ | (60,332) |  |  | $ | (140,483) |  |  | $ | 3,870 |
Net (loss) income from discontinued operations, net of tax | (28,990) |  |  | (60,843) |  |  | 22,006 |
Less: net income attributable to the redeemable noncontrolling interest | — |  |  | 164 |  |  | 936 |
Less: net (loss) income attributable to noncontrolling interests | (743) |  |  | (533) |  |  | 228 |
Allocation of undistributed earnings to convertible preferred stock | — |  |  | — |  |  | 24,712 |
Net loss attributable to holders of Class A, Class B, and Class C common stock for basic net loss per share | $ | (88,579) |  |  | $ | (200,957) |  |  | $ | — |
Add: interest on Notes | — |  |  | — |  |  | 1,317 |
Deduct: change in fair value of derivative liability | — |  |  | — |  |  | (26,745) |
Reallocation of undistributed earnings to convertible preferred stock | — |  |  | — |  |  | 24,712 |
Net loss attributable to holders of Class A, Class B, and Class C common stock for diluted net loss per share | $ | (88,579) |  |  | $ | (200,957) |  |  | $ | (716) |
Amounts attributable to BuzzFeed, Inc for net loss per common share, basic: |  |  |  |  |
Net (loss) income from continuing operations | $ | (59,589) |  |  | $ | (140,114) |  |  | $ | — |
Net (loss) income from discontinued operations, net of tax | (28,990) |  |  | (60,843) |  |  | — |
Net (loss) income attributable to BuzzFeed, Inc. | $ | (88,579) |  |  | $ | (200,957) |  |  | $ | — |
Amounts attributable to BuzzFeed, Inc for net loss per common share, diluted: |  |  |  |  |
Net (loss) income from continuing operations | $ | (59,589) |  |  | $ | (140,114) |  |  | $ | (716) |
Net (loss) income from discontinued operations, net of tax | (28,990) |  |  | (60,843) |  |  | — |
Net (loss) income attributable to BuzzFeed, Inc. | $ | (88,579) |  |  | $ | (200,957) |  |  | $ | (716) |
Denominator: |  |  |  |  |
Weighted average common shares outstanding, basic | 143,062 |  | 138,148 |  | 27,048
Impact of assumed conversion of Notes | — |  | — |  | 953
Weighted average common shares outstanding, diluted | 143,062 |  | 138,148 |  | 28,001
Net loss per common share, basic: |  |  |  |  |
Continuing operations | $ | (0.42) |  |  | $ | (1.01) |  |  | $ | — |
Discontinued operations | $ | (0.20) |  |  | $ | (0.44) |  |  | $ | — |
Net loss per common share, basic, attributable to BuzzFeed, Inc. | $ | (0.62) |  |  | $ | (1.45) |  |  | $ | — |
Net loss per common share, diluted: |  |  |  |  |
Continuing operations | $ | (0.42) |  |  | $ | (1.01) |  |  | $ | (0.03) |
Discontinued operations | $ | (0.20) |  |  | $ | (0.44) |  |  | $ | — |
Net loss per common share, diluted, attributable to BuzzFeed, Inc. | $ | (0.62) |  |  | $ | (1.45) |  |  | $ | (0.03) |
The numerator for net loss per basic and diluted common share from continuing operations excludes the impact of (i) net income attributable to the redeemable noncontrolling interests and (ii) net (loss) income attributable to the noncontrolling interests for all periods presented. The table below presents the details of securities that were excluded from the calculation of diluted net loss per share as the effect would have been anti-dilutive:
| 2023 |  | 2022 |  | 2021
Stock options | 3,377 |  | 3,976 |  | 4,560
Restricted stock units | 8,759 |  | 7,495 |  | 2,779
Warrants | 9,876 |  | 9,876 |  | 9,876
Additionally, the calculation of diluted net loss per share excluded 2.4 million restricted stock units at December 31, 2021, for which the related liquidity condition had not been met.

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