BRC Inc
For the period ended Sep 30, 2024. Filed Nov 4, 2024.
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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.
Sep 30, 2024 · Filed Nov 4, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Net Loss Per Share
- Net Loss Per Share
Basic net loss per share is calculated by dividing net 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 loss per share represents basic net 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 loss per share is computed by dividing the net 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 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 loss per share(in thousands, except unit/share and per unit/share amounts, unaudited):
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Numerator: | ||||
| Net loss | $(1,397) | $(10,694) | $(916) | $(42,680) |
| Less: Net loss attributable to non-controlling interests | (862) | (7,462) | (446) | (30,420) |
| Net loss attributable to Class A Common Stock - basic and diluted | $(535) | $(3,232) | $(470) | $(12,260) |
| Denominator: | ||||
| Weighted-average shares of Class A Common Stock outstanding | 72,154,931 | 61,964,157 | 68,904,034 | 59,738,542 |
| Net loss per share attributable to Class A common stockholders, basic and diluted | $(0.01) | $(0.05) | $(0.01) | $(0.21) |
The Company excluded the following potentially dilutive securities, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to Class A common shareholders because including them would have had an antidilutive effect:
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Stock options | 5,562,950 | 3,614,136 | 5,562,950 | 3,614,136 |
| Common Units | 135,473,335 | 148,395,692 | 135,473,335 | 148,395,692 |
| RSUs | 2,365,173 | 2,008,225 | 2,365,173 | 2,008,225 |
| PSUs | 8,462,412 | 8,462,412 | 8,462,412 | 8,462,412 |
| Incentive Units | 1,187,537 | 9,210 | 1,187,537 | 9,210 |
| Employee Stock Purchase | 78,287 | 98,710 | 78,287 | 98,710 |
| Total units excluded from computation of diluted net loss per share | 153,129,694 | 162,588,385 | 153,129,694 | 162,588,385 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.