|
10. Net (Loss) Income Per Share (Attributable to) Available to Common Stockholders
Potentially dilutive securities are excluded from the calculation of diluted net (loss) income per share (attributable to) available to common stockholders if their inclusion is anti-dilutive.
The following table shows the weighted-average outstanding securities considered anti-dilutive and therefore excluded from the computation of diluted net (loss) income per share attributable to common stockholders (in thousands):
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2022 |
|
2021 |
Convertible preferred stock |
|
5,003 |
|
— |
Common stock options |
|
885 |
|
479 |
Warrants for common stock |
|
6 |
|
— |
Total |
|
5,894 |
|
479 |
The following is a reconciliation of the numerator (net (loss) income) and denominator (number of shares) used in the calculation of basic and diluted net (loss) income per share attributable to common stockholders (in thousands):
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2022 |
|
2021 |
Numerator |
|
|
|
|
|
|
Net (loss) income |
|
$ |
(17,104) |
|
$ |
15,798 |
Less: Series A accumulated dividends |
|
|
(2,122) |
|
|
(2,122) |
Less: Series B accumulated dividends |
|
|
(3,350) |
|
|
(2,438) |
Less: Allocation of undistributed earnings to participating securities |
|
|
— |
|
|
(3,451) |
Net (loss) income (attributable to) available to common stockholders, basic |
|
$ |
(22,576) |
|
$ |
7,787 |
Add: Adjustments to undistributed earnings allocated to participating securities |
|
|
— |
|
|
181 |
Net (loss) income (attributable to) available to common stockholders, diluted |
|
$ |
(22,576) |
|
$ |
7,968 |
|
|
|
|
|
|
|
Denominator |
|
|
|
|
|
|
Weighted average shares used in computing basic and diluted net (loss) income per share (attributable to) available to common stockholders |
|
|
11,413 |
|
|
11,288 |
Effect of dilutive stock options |
|
|
— |
|
|
900 |
Effect of dilutive warrants |
|
|
— |
|
|
4 |
Weighted average shares used in computing diluted net (loss) income per share (attributable to) available to common stockholders |
|
|
11,413 |
|
|
12,192 |
Basic net (loss) income per share (attributable to) available to common stockholders |
|
$ |
(1.98) |
|
$ |
0.69 |
Diluted net (loss) income per share (attributable to) available to common stockholders |
|
$ |
(1.98) |
|
$ |
0.65 |
|