BRC Inc
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Net Income (Loss) Per Share
- Net Income (Loss) Per Share
Basic net income (loss) per share is calculated by dividing net income (loss) attributable to Class A Common Stock by the weighted-average shares of Class A Common Stock outstanding without consideration for potential dilutive securities. Diluted net income (loss) per share represents basic net income (loss) per share adjusted to include the potentially dilutive effect of outstanding unvested share awards, warrants, Common Units and Restricted Common Units that are exchangeable into shares of Class A Common Stock. Diluted net income (loss) per share is computed by dividing the net income (loss) attributable to Class A Common Stock by the weighted-average number of shares of Class A Common Stock outstanding for the period determined using the treasury stock method and if-converted method, as applicable. Shares of Class B Common Stock do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted income (loss) per share of Class B Common Stock under the two-class method has not been presented.
The following table sets forth the computation of basic and diluted net income (loss) per share(in thousands, except unit/share and per unit/share amounts, unaudited):
| Three Months Ended June 30, · Six Months Ended June 30, | |||||
|---|---|---|---|---|---|
| 2024 · 2023 · 2024 · 2023 | |||||
| Numerator: | |||||
| Net income (loss) | $(1,374) | $(14,665) | $482 | $(31,986) | |
| Less: Net income (loss) attributable to non-controlling interests | (892) | (10,437) | 415 | (22,958) | |
| Net income (loss) attributable to Class A Common Stock - basic and diluted | $(482) | $(4,228) | $67 | $(9,028) | |
| Denominator: | |||||
| Weighted-average shares of Class A Common Stock outstanding - Basic | 68,209,081 | 58,741,717 | 67,260,724 | 58,607,290 | |
| Weighted-average effect of dilutive securities: | |||||
| Options | — | 16,411 | |||
| RSUs | — | — | 489,278 | — | |
| Incentive Units | — | 564,971 | |||
| Employee Stock Purchase | — | — | 1,876 | — | |
| Weighted-average shares of Class A Common Stock outstanding - Diluted | 68,209,081 | 58,741,717 | 68,333,260 | 58,607,290 | |
| Net income (loss) per share attributable to Class A common stockholders, basic | $(0.01) | $(0.07) | $— | $(0.15) | |
| Net income (loss) per share attributable to Class A common stockholders, diluted | $(0.01) | $(0.07) | $— | $(0.15) | |
The Company excluded the following potentially dilutive securities, presented based on amounts outstanding at each period end, from the computation of diluted net income (loss) per share attributable to Class A common shareholders because including them would have had an antidilutive effect:
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Stock options | 5,407,036 | 2,608,905 | 5,207,383 | 2,608,905 |
| Common Units | 142,568,263 | 151,044,097 | 142,568,263 | 151,044,097 |
| RSUs | 2,407,540 | 1,762,189 | 271,124 | 1,762,189 |
| PSUs | 8,462,412 | 8,462,412 | 8,462,412 | 8,462,412 |
| Incentive Units | 1,187,537 | 14,210 | 1,187,537 | 14,210 |
| Employee Stock Purchase | 72,716 | 95,309 | — | 95,309 |
| Total units excluded from computation of diluted net income (loss) per share | 160,105,504 | 163,987,122 | 157,696,719 | 163,987,122 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.