Quarterly report pursuant to Section 13 or 15(d)

NET INCOME (LOSS) PER SHARE

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NET INCOME (LOSS) PER SHARE
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER SHARE NET INCOME (LOSS) PER SHARE
Basic net income (loss) per share is computed by dividing net income (loss) attributable to Class A and Class B common stockholders by the weighted-average number of shares of each respective class of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) attributable to Class A and Class B common stockholders by the weighted-average number of each respective class of common stock outstanding, including the potential dilutive securities. For the calculation of diluted net income (loss) per share, net income (loss) attributable to Class A and Class B common stockholders is adjusted to reflect the potential effect of dilutive securities.
As result of the reverse recapitalization, the Company has retroactively adjusted the weighted average shares outstanding prior to the Business Combination to give effect to the Exchange Ratio used to determine the number of shares of common stock into which they were converted.
The following table sets forth the computation of basic and diluted net income (loss) attributable to Class A and Class B common stockholders per share (in thousands except per share data):
Three Months Ended June 30, 2022 Three Months Ended June 30, 2021
Class A Class B Class A Class B
Numerator
Net income (loss) attributable to common stockholders – basic $ 4,805  $ 698  $ (5,893) $ (1,142)
Potential dilutive effect of stock options 22  (22) —  — 
Potential dilutive effect of restricted stock units —  —  —  — 
Net income (loss) attributable to common stockholders – diluted $ 4,827  $ 676  $ (5,893) $ (1,142)
Denominator
Weighted average shares of common stock outstanding - basic 111,057  16,130  83,167  16,130 
Potential dilutive effect of stock options 9,873  1,837  —  — 
Potential dilutive effect of restricted stock units 7,300  —  —  — 
Weighted average shares of common stock outstanding - diluted 128,230  17,967  83,167  16,130 
Net income (loss) attributable to common stockholders per share
Basic $ 0.04  $ 0.04  $ (0.07) $ (0.07)
Diluted $ 0.04  $ 0.04  $ (0.07) $ (0.07)

Six Months Ended June 30, 2022 Six Months Ended June 30, 2021
Class A Class B Class A Class B
Numerator
Net loss attributable to common stockholders – basic $ (17,201) $ (2,508) $ (932) $ (185)
Potential dilutive effect of stock options —  —  —  — 
Potential dilutive effect of restricted stock units —  —  —  — 
Net loss attributable to common stockholders – diluted $ (17,201) $ (2,508) $ (932) $ (185)
Denominator
Weighted average shares of common stock outstanding - basic 110,635  16,130  81,121  16,130 
Potential dilutive effect of stock options —  —  —  — 
Potential dilutive effect of restricted stock units —  —  —  — 
Weighted average shares of common stock outstanding - diluted 110,635  16,130  81,121  16,130 
Net loss attributable to common stockholders per share
Basic $ (0.16) $ (0.16) $ (0.01) $ (0.01)
Diluted $ (0.16) $ (0.16) $ (0.01) $ (0.01)
For the periods presented above, the net income (loss) per share amounts are the same for Class A and Class B common stock because the holders of each class are entitled to equal per share dividends or distributions in liquidation in
accordance with the Certificate of Incorporation. The undistributed earnings (losses) for each period are allocated based on the contractual participation rights of the Class A and Class B common stock as if the earnings (losses) for the period had been distributed. As the liquidation and dividend rights are identical, the undistributed earnings (losses) are allocated on a proportionate basis.
The following equity awards outstanding have been excluded from the computation of diluted net income (loss) per share of common stock for the periods presented due to their anti-dilutive effect:
Three Months Ended June 30, Six Months Ended June 30,
2022 2021 2022 2021
Stock options 133  15,696  13,752  15,696 
RSUs —  —  7,300  — 
Public Warrants 5,382  7,175  5,382  7,175 
Private Warrants 3,822  3,821  3,822  3,821 
Earnout Shares 15,000  15,000  15,000  15,000 
24,337  41,692  45,256  41,692