| NET LOSS PER SHARE |
NET LOSS PER SHARE
Presented in the table below is a reconciliation of the numerator and denominator for the basic and diluted earnings per share (“EPS”) calculations for the periods ended:
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Three Months Ended |
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Nine Months Ended |
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September 30, |
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September 30, |
| (In thousands, USD, except share and per share amounts) |
2022 |
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2021 |
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2022 |
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2021 |
| Numerator: |
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| Net loss attributable to the Company |
$ |
(13,025) |
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$ |
(4,508) |
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$ |
(35,073) |
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$ |
(12,474) |
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| Less cumulative earnings to preferred shareholder |
— |
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(7,897) |
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— |
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(22,822) |
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| Add premium on preferred conversion to common shares |
—
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4,074 |
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—
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4,074 |
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| Net loss attributable to common stockholders |
(13,025) |
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(8,331) |
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(35,073) |
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(31,222) |
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| Denominator: |
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Weighted average common shares and warrants outstanding* |
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| Basic (in number) |
76,240,530 |
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32,098,715 |
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75,514,986 |
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31,799,313 |
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| Diluted (in number) |
76,240,530 |
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32,098,715 |
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75,514,986 |
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31,799,313 |
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| Net loss per unit attributable to common stockholder |
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| Basic |
$ |
(0.17) |
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$ |
(0.26) |
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$ |
(0.46) |
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$ |
(0.98) |
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| Diluted |
$ |
(0.17) |
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$ |
(0.26) |
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$ |
(0.46) |
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$ |
(0.98) |
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* The KORE warrants have been treated as outstanding common stock in the weighted average common shares and warrants outstanding for the three months and nine months ended September 30, 2021.
The following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive:
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Three Months Ended |
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Nine Months Ended |
| (Number of shares) |
September 30, |
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September 30, |
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2022 |
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2021 |
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2022 |
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2021 |
| Common stock issued under the Backstop Agreement |
9,600,031 |
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— |
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9,600,031 |
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— |
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| Restricted stock grants with only service conditions |
3,840,501 |
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— |
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3,468,900 |
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— |
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