Quarterly report pursuant to Section 13 or 15(d)

Net Loss per Share

v3.23.2
Net Loss per Share
6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Net Loss per Share
Note 9: Net Loss per Share
The following table provides the computation of basic and diluted net loss per share:
Three Months Ended June 30, Six Months Ended June 30,
2023 2022 2023 2022
(in thousands, except per share data)
Numerator–basic:
Net loss attributable to Class A common stockholders–basic $ (9,816) $ (154,350) $ (19,015) $ (164,927)
Numerator–diluted:
Net loss attributable to Class A common stockholders–basic $ (9,816) $ (154,350) $ (19,015) $ (164,927)
Effective of dilutive securities:
Shares of Class V common stock —  (748,756) (61,015) (798,969)
Net loss attributable to Class A common stockholders–diluted $ (9,816) $ (903,106) $ (80,030) $ (963,896)
Denominator–basic:
Weighted average Class A common shares outstanding–basic 107,454  41,579  74,699  41,579 
Net loss per share attributable to Class A common stockholders–basic $ (0.09) $ (3.71) $ (0.25) $ (3.97)
Denominator–diluted:
Weighted average Class A common shares outstanding–basic 107,454  41,579  74,699  41,579 
Weighted average effect of dilutive securities:
Shares of Class V common stock —  200,474  201,329  198,783 
Weighted average shares outstanding–diluted 107,454  242,053  276,028  240,362 
Net loss per share attributable to Class A common stockholders–diluted $ (0.09) $ (3.73) $ (0.29) $ (4.01)
Shares of Class V common stock do not share in the earnings or losses of P3 Health Partners, Inc. and are therefore not participating securities. As such, separate presentation of basic and diluted net income per share for Class V common stock under the two-class method is not required. The following table presents potentially dilutive securities excluded from the computation of diluted net loss per share for the periods presented because their effect would have been anti-dilutive.
Three Months Ended June 30, Six Months Ended June 30,
2023 2022 2023 2022
(in thousands)
Stock warrants (1)
81,938  10,819  81,938  10,819 
Stock options (1)
5,924  2,134  5,924  2,134 
Restricted stock units (1)
1,250  —  1,250  — 
Restricted stock awards (1)
250  —  250  — 
Shares of Class V common stock (2)
198,610  602  —  602 
Total 287,972  13,555  89,362  13,555 
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(1)    Represents the number of instruments outstanding at the end of the period. Application of the treasury stock method would reduce this amount if they had a dilutive effect and were included in the computation of diluted net loss per share.
(2)    Shares of Class V common stock at the end of the period, including shares tied to unvested Common Units, are considered potentially dilutive shares of Class A common stock under the application of the if-converted method.