Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Share

v3.22.2
Net Loss Per Share
6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
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 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.