MoneyLion Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Share

Net Loss Per Share

6 Months Ended

Jun. 30, 2022

15. NET LOSS PER SHARE

The following table sets forth the computation of net loss per common share for the three and six months ended June 30, 2022 and 2021:


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Numerator:
Net loss		(23,065	)		(39,213	)		(33,043	)		(112,619	)
Net income attributable to redeemable noncontrolling interests		-			(3,077	)		-			(5,844	)
Accrual of dividends on preferred stock		(2,176	)		(4,985	)		(3,204	)		(9,827	)
Net loss attributable to common shareholders	$	(25,241	)	$	(47,275	)	$	(36,247	)	$	(128,290	)
Denominator:
Weighted-average common shares outstanding - basic and diluted (1)		236,313,189			48,641,247			233,540,639			48,496,136
Net loss per share attributable to common stockholders - basic and diluted (1)	$	(0.11	)	$	(0.97	)	$	(0.16	)	$	(2.65	)

(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 and six months ended months ended June 30, 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 and six months ended June 30, 2022 and 2021.

The following potential common shares have been excluded from the computation of diluted net loss per share for the three and six months ended June 30, 2022 and 2021:


	June 30,
	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)		61,532,815		39,014,499
Right to receive earnout shares		17,500,000		—
Total common stock equivalents		133,326,635		170,017,583

(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.