v3.22.4
Basic and Diluted Net Loss Per Share
12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Basic and Diluted Net Loss Per Share Basic and Diluted Net Loss Per Share
The Company computes basic loss per share by dividing loss attributable to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution of securities that could be exercised or converted into common shares, and is computed by dividing net earnings available to common stockholders by the weighted-average number of common shares outstanding plus the effect of potentially dilutive shares to purchase common stock. The calculation of diluted loss per share requires that, to the extent the average market price of the underlying shares for the reporting period exceeds the exercise price of the warrants, and the presumed exercise of such securities are dilutive to net loss per share for the period, an adjustment to net loss available to common stockholders used in the calculation is required to remove the change in fair value of the warrants from the numerator for the period. Likewise, an adjustment to the denominator is required to reflect the related dilutive shares, if any, under the treasury stock method. As a result of the Business Combination, the Company has retrospectively adjusted the weighted average number of common shares outstanding prior to January 17, 2020 by multiplying them by the exchange ratio used to determine the number of common shares into which they converted.
The following table sets forth the computation of the Company’s basic and diluted net loss attributable per share to common stockholders for the years ended December 31, 2022, 2021 and 2020:
 Year ended December 31,
 202220212020
Numerator:
Net loss attributable to common stockholders$(51,734)$(305,552)$(603,331)
Gain on change in fair value of warrants, diluted— (50,967)— 
Net loss attributable to common stockholders, diluted (in thousands)$(51,734)$(356,519)$(603,331)
Denominator:
Shares used in computing net loss attributable per share to common stockholders, basic and diluted212,501,938 208,265,631 179,071,278 
Weighted-average effect of potentially dilutive shares to purchase common stock— 812,536 — 
Shares used in computing net loss attributable per share to common stockholders, diluted212,501,938 209,078,167 179,071,278 
Net loss attributable per share to common stockholders:
Basic$(0.24)$(1.47)$(3.37)
Diluted$(0.24)$(1.71)$(3.37)
The following table discloses securities that could potentially dilute basic net loss per share in the future that were not included in the computation of diluted net loss per share because to do so would have been antidilutive for all periods presented:
 As of December 31,
 202220212020
Rollover SARs1,339,423 2,004,712 2,474,011 
Rollover LTIPs— — 2,316,869 
RSUs9,595,527 9,570,667 8,692,347 
PSUs8,950,771 9,643,666 4,877,277 
Public warrants— — 878,346 
Private placement warrants5,933,334 — 5,933,334 
Earnout shares reserved for future issuance21,507 24,060 1,260,281 
See Note 6 for additional information regarding the earnout shares and see Note 13 for additional information regarding the terms of the Rollover SARs, Rollover LTIPs, RSUs, PSUs, earnout shares and public and private placement warrants.