EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

The following table sets forth the computation of basic and diluted net loss per share for common stock:


	Year ended December 31,
	2023		2022		2021

Net loss	$	(107,540)	$	(162,336)	$	(167,146)

Basic weighted-average common shares(1)	159,146,081		143,615,820		86,473,291
Effect of dilutive securities	—		—		—
Diluted weighted-average common shares(1)	159,146,081		143,615,820		86,473,291
Basic and diluted net loss per common share	$	(0.68)	$	(1.13)	$	(1.93)

(1)The basic and diluted weighted-average common shares exclude 738,000 shares subject to vesting requirements held by the Sponsor related to the Business Combination as the performance conditions have not been met.

The table below sets forth the number of potential common shares underlying outstanding common stock options, RSUs and common stock warrants that were excluded from diluted net loss per share as the Company had net losses, and their inclusion would be anti-dilutive:


	Year ended December 31,
	2023	2022	2021

Stock options	12,516,060	12,863,797	15,009,656
Restricted stock units(1)	6,126,062	11,573,764	6,498,869
Warrants	15,333,301	15,333,301	15,333,301
Total	33,975,423	39,770,862	36,841,826

(1) Amount includes zero, 5,377, 21,356 liability-based RSUs as of December 31, 2023, 2022 and 2021, respectively, that the Company settles in cash. As a result, the shares of common stock underlying the liability-based RSUs were not issued upon vesting and were returned to the 2021 Incentive Award Plan as available shares.

Latch, Inc. 10-K