Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Share Attributable to Common Shareholders

v3.21.2
Net Loss Per Share Attributable to Common Shareholders
9 Months Ended
Oct. 31, 2021
Earnings Per Share [Abstract]  
Net Loss Per Share Attributable to Common Shareholders
10.
Net Loss Per Share Attributable to Common Stockholders

 

Net Loss per common share

 

The Company computes basic earnings per share (EPS) by dividing income (loss) available to common stockholders by the weighted average number of common shares outstanding for the reporting period. Diluted EPS reflects the effect of potential shares that would be issued if stock option awards, Restricted Stock Units, Public and Private Warrants and preferred shares, to the extent issued, were converted into common stock, to the extent dilutive.

 

The following table summarizes the computation of basic and diluted net loss per share attributable to common stockholders:

 

 

 

Three Months Ended October 31,

 

 

Nine Months Ended October 31,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Numerator: Net loss

 

$

(193,122

)

 

$

(12,454

)

 

$

(225,789

)

 

$

(43,157

)

Denominator: Basic and Diluted Weighted-average shares in computing net loss per share attributable to common stockholders

 

 

87,178,432

 

 

 

65,067,942

 

 

 

74,001,217

 

 

 

64,064,424

 

Net loss attributable to common stockholders—basic and diluted

 

$

(2.22

)

 

$

(0.19

)

 

$

(3.05

)

 

$

(0.67

)

 

Since the Company was in a net loss position for all periods presented, diluted net loss per share attributable to common stockholders will be the same as the basic net loss per share, as, in a net loss position, the inclusion of all potential common shares outstanding would be antidilutive. The potential shares of common stock excluded from the computation of diluted net loss per share for the periods presented due to their antidilutive impacts are as follows:

 

 

 

As of October 31, 2021

 

 

As of October 31, 2020

 

Shares of common stock issuable from stock options

 

 

1,474,840

 

 

 

2,671,317

 

Total RSUs unvested pending settlement

 

 

8,204,455

 

 

 

16,102,029

 

Shares of common stock issuable upon conversion from preferred shares

 

 -

 

 

 

21,272,479

 

Private Warrants

 

 

10,200

 

 

 

 

Public Warrants

 

 

8,596,273

 

 

 

 

Potential common shares excluded from diluted net loss per share

 

 

18,285,768

 

 

 

40,045,825

 

 

As of October 31, 2020 there were no Private or Public Warrants outstanding due to the fact that the Legacy LGL interim condensed consolidated balance sheet was consolidated and combined with Legacy IronNet as of the effective date of the Merger. Legacy LGL Public and Private Warrants as of August 26, 2021 were 8,624,992 and 5,200,000, respectively.