Quarterly report pursuant to Section 13 or 15(d)

Basic and Diluted Net Loss Per Share (Tables)

v3.21.2
Basic and Diluted Net Loss Per Share (Tables)
9 Months Ended
Sep. 30, 2021
Basic and Diluted Net Loss Per Share  
Schedule of earnings per share, basic and diluted

    

Three Months Ended

Nine Months Ended

September 30, 

September 30, 

    

2021

    

2020

    

2021

    

2020

    

Numerator:

 

  

 

  

  

 

  

Net loss used to compute net loss per share:

Basic

$

(5,099)

$

(8,923)

$

(86,497)

$

(33,548)

Adjustments for change in fair value of warrant liability

(2,692)

Diluted

$

(7,791)

$

(8,923)

$

(86,497)

$

(33,548)

Denominator:

 

  

 

  

 

  

 

  

Weighted average shares outstanding used to compute loss per share:

Basic

 

96,839,292

 

35,809,973

 

92,544,137

 

35,294,839

Dilutive effect of warrants

706,650

Diluted

97,545,942

35,809,973

92,544,137

35,294,839

Loss per share - basic

$

(0.05)

$

(0.25)

$

(0.93)

$

(0.95)

Loss per share - diluted

$

(0.08)

$

(0.25)

$

(0.93)

$

(0.95)

Schedule of antidilutive securities excluded from computation of earnings per share

    

Three Months Ended

    

Nine Months Ended

    

2021

    

2020

2021

    

2020

Stock options

 

5,131,615

 

7,916,924

5,131,615

 

7,916,924

 

Restricted stock units and awards

984,135

2,144,819

984,135

2,144,819

Legacy Porch warrants

3,343,451

3,343,451

Public and private warrants

 

 

1,821,951

 

 

Earnout shares

 

4,099,999

 

4,099,999

 

 

Convertible debt(1)

16,998,130

1,856,353

16,998,130

1,856,353

(1) In connection with the September 16, 2021 issuance of the 2026 Notes, the Company used a portion of the proceeds to pay for the capped call transactions, which are expected to generally reduce the potential dilution to the Company’s common stock. The capped call transactions impact the number of shares that may be issued by effectively increasing the conversion price for the Company from $25 per share to approximately $37.74 per share, which would result in 11,261,261 potentially dilutive shares instead of the shares reported in this table as of September 30, 2021.