General form of registration statement for all companies including face-amount certificate companies

Net Loss Per Share

v3.22.2
Net Loss Per Share
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Earnings Per Share [Abstract]    
Net Loss Per Share
Note 10 Net Loss Per Share
Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period.
Diluted net loss per share gives effect to all securities having a dilutive effect on net loss, weighted-average shares outstanding of common stock or both. The effect from potential dilutive securities includes (i) incremental shares of common stock calculated using the
if-converted
method for the PIPE Investment Obligation and the Series A Preferred Stock and (ii) incremental shares of common stock calculated using the treasury stock method for warrants and share-based compensation awards. None of the potential dilutive securities meet the definition of a participating security.
For purposes of the diluted net loss per share computation, all potentially dilutive securities were excluded because their effect would be anti-dilutive or because of unsatisfied contingent issuance conditions. As a result, basic net loss per share was equal to diluted net loss per share for each period presented.
The table below represents the anti-dilutive securities that could potentially be dilutive in the future for the periods presented:
 
    
Three Months Ended
March 31,
  
(in shares of common stock)
   
2022
     
2021
  
Series A Preferred Stock
      —          10,947,686  
Stock options
      1,938,804        2,836,655  
Restricted stock units
      16,076,087        14,121,542  
Detachable Warrants
      —          26,029,630  
Inducement Warrants
      —          479,208  
FP Combination Warrants
      8,291,704        —    
Combination Warrants
      2,763,902        —    
Public Warrants
      11,499,960        —    
Private Placement Warrants
      7,800,000           
PIPE Investment Obligation
      3,270,349        —    
The computations of basic and diluted net loss per share for the periods presented were as follows:
 
    
Three Months Ended March 31,
  
(in thousands, except per share and share amounts)
   
2022
     
2021
  
Numerator:
                  
Net loss
    $ (71,372 )     $ (77,496 ) 
Denominator:
                  
Weighted-average shares outstanding - basic and diluted
      83,643,940        71,431,259  
Net loss per share - basic and diluted
   
$
(0.85
) 
   
$
(1.08
) 
 
Note 10 Net Loss Per Share
Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period.
Diluted net loss per share gives effect to all securities having a dilutive effect on net loss, weighted-average shares outstanding of common stock or both. The effect from potential dilutive securities includes (i) incremental shares of common stock calculated using the
if-converted
method for the Convertible Notes due 2028 and the Series A Preferred Stock, (ii) incremental shares of common stock calculated using the treasury stock method for warrants and share-based compensation awards granted under the 2014 Plan, (iii) incremental shares and potential shares of common stock that are contingently issuable upon closing of the Tailwind Two Merger, and (iv) adjustments to net loss as a result of changes in the
non-controlling
interest in PredaSAR due to the conversion of the Series Seed Preferred Stock or the exercise of stock options granted under the PredaSAR Plan. None of the potential dilutive securities meet the definition of a participating security.
For purposes of the diluted net loss per share computation, all potentially dilutive securities were excluded because their effect would be anti-dilutive or because of unsatisfied contingent issuance conditions. As a result, basic net loss per share was equal to diluted net loss per share for each period presented.
The table below represents the anti-dilutive securities that could potentially be dilutive in the future for the periods presented:
 
    
December 31,
  
(in shares of common stock)
   
2021
     
2020
  
Convertible Notes due 2028
      —          940,160  
Series A Preferred Stock
      396,870        396,870  
Series Seed Preferred Stock
      —          25,000  
Stock options
      76,956             115,791  
Restricted stock units
      536,626        —    
PredaSAR stock options
      —          1,967  
Warrants
        1,060,023         —    
The contingently issuable equity and warrants upon closing of the Tailwind Two Merger are excluded from the table above as the number of underlying shares of common stock to be issued is dependent on the capital structure of New Terran Orbital.
The computations of basic and diluted net loss per share for the periods presented were as follows:
 
    
Years Ended December 31,
  
(in thousands, except per share and share amounts)
   
2021
     
2020
  
Numerator:
                  
Net loss
    $ (138,982 )     $ (10,455 ) 
Denominator:
                  
Weighted-average shares outstanding - basic and diluted
      2,780,993        2,403,755  
Net loss per share - basic and diluted
   
$
(49.98
) 
   
$
(4.35
)