MoneyLion Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Net Loss Per Share

Net Loss Per Share

12 Months Ended

Dec. 31, 2022

15. NET LOSS PER SHARE

The following table sets forth the computation of net loss per common share for the twelve months ended December 31, 2022 and 2021:


	Twelve Months Ended December 31,
	2022			2021
Numerator:
Net loss		(189,066	)		(169,484	)
Net income attributable to redeemable noncontrolling interests		-			(12,776	)
(Accrual) / reversal of dividends on preferred stock		(6,880	)		42,728
Net loss attributable to common shareholders	$	(195,946	)	$	(139,532	)

Denominator:
Weighted-average common shares outstanding - basic and diluted(1)		241,695,859			97,158,738
Net loss per share attributable to common stockholders - basic and diluted(1)	$	(0.81	)	$	(1.44	)

(1)

Prior period results have been adjusted to reflect the exchange of Legacy MoneyLion’s Common Stock for Class A Common Stock at an exchange ratio of approximately 16.4078 in September 2021 as a result of the Business Combination. See Note 3, “Business Combination,” for details. Additionally, included within net income attributable to common stockholders for the twelve months ended December 31, 2021 is an adjustment to reflect the reversal of previously accrued dividends on redeemable convertible preferred stock in the amount of $56,931 which were forfeited by the preferred stockholders in conjunction with the Business Combination.

The Company’s potentially dilutive securities, which include stock options, RSUs, preferred stock 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.

The Company excluded the following potential common shares from the computation of diluted net loss per share because including them would have an anti-dilutive effect for the twelve months ended December 31, 2022 and 2021:


	Twelve Months Ended
	December 31,
	2022		2021
Conversion of convertible preferred stock (1)		25,655,579		-
Warrants to purchase common stock and redeemable convertible preferred stock (1)		25,599,889		25,599,889
PSUs, RSUs and options to purchase common stock (1)		63,465,503		38,085,775
Right to receive earnout shares		17,500,000		17,500,000
Total common stock equivalents		132,220,971		81,185,664

(1)

Prior period results have been adjusted to reflect the exchange of Legacy MoneyLion Common Stock for Class A Common Stock at an exchange ratio of approximately 16.4078 in September 2021 as a result of the Business Combination. See Note 3, “Business Combination” for details.