| NET LOSS PER SHARE |
15.
NET LOSS PER SHARE
The
following table sets forth the computation of net loss per common share for the three months ended March 31, 2022 and 2021:
| |
|
Three Months Ended March 31, |
|
| |
|
2022 |
|
|
2021 |
|
| |
|
|
|
|
|
|
| Numerator: |
|
|
|
|
|
|
| Net loss |
|
$ |
(6,000 |
) |
|
$ |
(73,406 |
) |
| Net income attributable to redeemable noncontrolling interests |
|
|
- |
|
|
|
(2,767 |
) |
| Accrual of dividends on preferred stock |
|
|
(1,028 |
) |
|
|
(4,842 |
) |
| Net loss attributable to common shareholders |
|
$ |
(7,028 |
) |
|
$ |
(81,015 |
) |
| Denominator: |
|
|
|
|
|
|
|
|
| Weighted-average common shares outstanding - basic and diluted (1) |
|
|
230,737,284 |
|
|
|
48,348,187 |
|
| Net loss per share attributable to common stockholders - basic and diluted (1) |
|
$ |
(0.03 |
) |
|
$ |
(1.68 |
) |
|
(1) |
Prior
period results have been adjusted to reflect the exchange of Legacy MoneyLion’s Common Stock for MoneyLion Class A Common Stock
at the Exchange Ratio of approximately 16.4078 in September 2021 as a result of the Business Combination. See Note 3, “Business
Combination,” for details. |
For
the three months ended March 31, 2022 and 2021, the Company’s potentially dilutive securities, which include stock options, RSUs,
PSUs, preferred stock, the right to receive earnout shares and warrants to purchase shares of common stock and preferred stock, have
been excluded from the computation of diluted net loss per share as the effect would be antidilutive. Therefore, the weighted-average
number of common shares outstanding used to calculate both basic and diluted net loss per share is the same for the three months ended
March 31, 2022 and 2021.
The
following potential common shares have been excluded from the computation of diluted net loss per share for the three months ended March
31, 2022 and 2021:
| |
|
March 31, |
|
| |
|
2022 |
|
|
2021 |
|
| Conversion of convertible preferred stock (1)
|
|
|
28,693,931 |
|
|
|
116,264,374 |
|
| Warrants to purchase common stock and redeemable convertible preferred stock (1)
|
|
|
25,599,889 |
|
|
|
14,738,710 |
|
| PSUs, RSUs and options to purchase common stock (1)
|
|
|
65,193,606 |
|
|
|
41,090,725 |
|
| Right to receive earnout shares |
|
|
17,500,000 |
|
|
|
- |
|
| Total common stock equivalents |
|
|
136,987,426 |
|
|
|
172,093,809 |
|
|
(1) |
Prior
period results have been adjusted to reflect the exchange of Legacy MoneyLion Common Stock for MoneyLion Class A Common Stock at the
Exchange Ratio of approximately 16.4078 in September 2021 as a result of the Business Combination. See Note 3, “Business
Combination” for details. |
|