| NET LOSS PER SHARE |
As a result of the Business Combination (see Note 3), the Company has retroactively adjusted the weighted average shares outstanding prior to March 2, 2022 to give effect to the Exchange Ratio used to determine the number of shares of Common Stock into which they were converted. The following tables set forth the computation of basic and diluted net per share of common stock for the three and six months ended June 30, 2023 and June 30, 2022: | | | | | | | | | | | | | | Weighted Average | | | | | | | | | Shares | | | | (In thousands except per share amounts) | | Net Loss | | Outstanding | | Per Share Amount | Three Months Ended June 30, 2023 | | | | | | | | | Basic | | $ | (16,966) | | 128,515 | | $ | (0.13) | Dilutive effect of common equivalent shares | | | — | | — | | | — | Dilutive | | $ | (16,966) | | 128,515 | | $ | (0.13) |
| | | | | | | | | | | | | | Weighted Average | | | | | | | | | Shares | | | | (In thousands except per share amounts) | | Net Loss | | Outstanding | | Per Share Amount | Three Months Ended June 30, 2022 | | | | | | | | | Basic | | $ | (12,252) | | 114,096 | | $ | (0.11) | Dilutive effect of common equivalent shares | | | — | | — | | | — | Dilutive | | $ | (12,252) | | 114,096 | | $ | (0.11) |
| | | | | | | | | | | | | | Weighted Average | | | | | | | | | Shares | | | | (In thousands except per share amounts) | | Net Loss | | Outstanding | | Per Share Amount | Six Months Ended June 30, 2023 | | | | | | | | | Basic | | $ | (40,320) | | 126,657 | | $ | (0.32) | Dilutive effect of common equivalent shares | | | — | | — | | | — | Dilutive | | $ | (40,320) | | 126,657 | | $ | (0.32) |
| | | | | | | | | | | | | | Weighted Average | | | | | | | | | Shares | | | | (In thousands except per share amounts) | | Net Loss | | Outstanding | | Per Share Amount | Six Months Ended June 30, 2022 | | | | | | | | | Basic | | $ | (29,894) | | 84,061 | | $ | (0.36) | Dilutive effect of common equivalent shares | | | — | | — | | | — | Dilutive | | $ | (29,894) | | 84,061 | | $ | (0.36) |
There are 3,059,273 Sponsor Vesting Shares that were not included in the computation of basic net loss per share since the contingencies for the issuance of these shares have not been met as June 30, 2023 or June 30, 2022. The weighted-average common shares outstanding for the three and six months ended June 30, 2023 include 1,313,989 and 1,356,820 weighted average shares for warrants having an exercise price of $0.01 per share each, respectively. The weighted-average common shares outstanding for the three and six months ended June 30, 2022 include 2,683,830 and 3,326,508 weighted average shares for warrants having an exercise price of $0.01 per share each, respectively. The Company’s potential dilutive securities, which include stock options, restricted stock units, convertible preferred stock and warrants have been excluded from the computation of diluted net loss per share as the effect would be anti-dilutive. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share is the same. The Company excluded the following potential common shares from the computation of diluted net loss per share for the six months ended June 30, 2023 and June 30, 2022: | | | | | | | | Six Months Ended June 30 | | | | 2023 | | 2022 | | Common Stock Warrants (1) | | 14,415,297 | | 14,176,066 | | Stock Options | | 5,466,550 | | 9,482,711 | | Restricted Stock Units | | 11,189,011 | | 11,850,526 | | | | 31,070,858 | | 35,509,303 | |
| (1) | The number of outstanding warrants does not include unvested Customer Warrants for 1,340,310 and 1,608,370 shares as of June 30, 2023 and June 30, 2022, respectively. |
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