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, 2023

13. NET LOSS PER SHARE

The following table sets forth the computation of net loss per common share for the twelve months ended December 31, 2023 and 2022:


	Twelve Months Ended December 31,
	2023			2022
Numerator:
Net loss	$	(45,245	)	$	(189,066	)
Reversal of previously accrued / (accrued) dividends on preferred stock		690			(6,880	)
Net loss attributable to common shareholders	$	(44,555	)	$	(195,946	)

Denominator:
Weighted-average common shares outstanding - basic and diluted(1)		9,614,309			8,056,529
Net loss per share attributable to common stockholders - basic and diluted(1)	$	(4.63	)	$	(24.32	)

(1)

Prior period results have been adjusted to reflect the Reverse Stock Split of the Class A Common Stock at a ratio of 1-for-30 that became effective April 24, 2023. See Note 1, “Description of Business and Basis of Presentation,” for details.

The Company’s potentially dilutive securities, which include stock options, RSUs, preferred stock and warrants to purchase shares of common 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 potentially issuable shares of Class A Common Stock 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, 2023 and 2022:


	December 31,
	2023		2022
Conversion of convertible preferred stock(1)		—		855,186
Warrants to purchase common stock(1)		853,330		853,330
PSUs, RSUs and options to purchase common stock(1)		2,160,554		2,115,517
Right to receive Earnout Shares(1)		583,333		583,333
Total common stock equivalents		3,597,217		4,407,366

(1)

In connection with the Business Combination, rights to receive Class A Common Stock (the “Earnout Shares”) were issued, with the right to receive Class A Common Stock contingent upon the Class A Common Stock reaching certain price milestones. 250,000 and 333,333 shares of Class A Common Stock will be issued if the Class A Common Stock share price equals or is greater than $375 and $495, respectively, for twenty out of any thirty consecutive trading days. The right to receive the Earnout Shares will expire on September 22, 2026.