Quarterly report pursuant to Section 13 or 15(d)

Net (Loss)/Income Per Share of Class A Common Stock

v3.21.2
Net (Loss)/Income Per Share of Class A Common Stock
 9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Net (Loss)/Income Per Share of Class A Common Stock
17. Net (Loss)/Income Per Share of Class A Common Stock
The following table includes the calculation of basic and diluted net (loss)/income per share:
Three Months Ended September 30, Nine Months Ended September 30,
2021 2020 2021 2020
(in thousands except per share information) (in thousands except per share information)
Loss from continuing operations $ (46,897) $ (13,911) $ (250,016) $ (37,594)
(Loss)/gain from discontinued operation —  (511) (1,022) 28,449 
Net loss available to common stockholders $ (46,897) $ (14,422) $ (251,038) $ (9,145)
Basic and diluted net loss per share - continuing operations $ (0.67) $ (0.41) $ (4.29) $ (1.16)
Basic and diluted net (loss)/income per share - discontinued operations —  (0.01) (0.02) 0.87 
Basic and diluted net loss per share $ (0.67) $ (0.42) $ (4.31) $ (0.29)
Shares used in the computation of basic and diluted net loss per share 69,975  34,258  58,297  32,515 
The potentially dilutive securities listed below were not included in the calculation of diluted weighted average common shares outstanding, as their effect would have been anti-dilutive during the three and nine months ended September 30, 2021 and 2020. BlackSky’s pending Form S-1 registration statement filed with the SEC seeks to register approximately 24.1 million shares underlying the Public Warrants and Private Placement Warrants outlined below, which equates to less than 16% of the total fully diluted outstanding common shares of BlackSky. While the Public Warrants and certain of the Private Placement Warrants are now exercisable, the exercise prices (of either $11.50 per share or $20 per share, depending on the class of warrant) both currently exceed the trading price for BlackSky’s common stock. Shares issued to Legacy BlackSky stockholders as part of the Merger consideration remain locked up pursuant to BlackSky’s bylaws through at least the middle of the first quarter of 2022.
Three Months Ended September 30, Nine Months Ended September 30,
2021 2020 2021 2020
(in thousands) (in thousands)
Restricted class A common stock 420  1,022  420  1,022 
Restricted stock units 9,158  —  9,158  — 
Common Stock warrants 1,770  12,312  1,770  12,312 
Public Warrants (as exercised for class A common stock) treated as liability 15,813  —  15,813  — 
Private Placement Warrants (as exercised for class A common stock) treated as liability 8,325  —  8,325  — 
Sponsor earn-out shares 2,372  —  2,372  — 
Stock options 2,344  3,561  2,344  3,561