Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) Per Share

v3.23.3
Earnings (Loss) Per Share
9 Months Ended
Sep. 30, 2023
Earnings (Loss) Per Share [Abstract]  
Earnings (Loss) Per Share

16. Earnings (Loss) Per Share

 

Following is the computation of earnings (loss) per basic and diluted share:

 

    Three months ended     Nine months ended  
    September 30,     September 30,  
    2023     2022     2023     2022  
Numerator:                        
Net earnings (loss)   $ (17,678,787 )   $ (13,176,497 )   $ (11,144,012 )   $ (20,037,455 )
Less: deemed dividend for Earnout Shares             (4,957,366 )             (4,957,366 )
Net earnings (loss) attributable to common stockholders   $ (17,678,787 )   $ (18,133,863 )   $ (11,144,012 )   $ (24,994,821 )
                                 
Denominator:                                
Weighted average shares used to compute basic EPS     41,155,115       16,535,661       40,453,015       11,983,183  
                                 
Basic and diluted earnings (loss) per share
  $ (0.43 )   $ (1.10 )   $ (0.28 )   $ (2.09 )
                                 
Anti-dilutive securities excluded from shares outstanding:                                
Stock options     3,084,601       3,934,165       3,084,601       3,934,165  
Restricted and performance stock units     2,411,602      
-
      2,411,602      
-
 
Warrants     19,109,090       18,722,425       19,109,090       18,722,425  
Earnout shares     7,499,993       7,499,993       7,499,993       7,499,993  
Convertible debt     4,855,758       2,922,425       4,855,758       2,922,425  
Total     36,961,044       33,079,008       36,961,044       33,079,008