EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Computation of Basic and Diluted Net Loss Per Share for Common Stock

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


	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
Net loss	$	(17,056)	$	(27,278)	$	(47,630)	$	(91,078)

Basic weighted-average common shares(1)	156,386,470		154,328,606		156,386,470		147,884,812		(2)
Effect of dilutive securities	—		—		—		—
Diluted weighted-average common shares(1)	156,386,470		154,328,606		156,386,470		147,884,812		(2)
Basic and diluted net loss per common share	$	(0.11)	$	(0.18)	$	(0.30)	$	(0.62)	(2)

(1)The basic and diluted weighted-average common shares exclude (i) the Sponsor Shares and (ii) shares held by Jamie Siminoff, who was the Company’s Chief Strategy Officer, that were subject to a right of repurchase held by the Company.

(2)Amounts have been corrected for the three and nine months ended September 30, 2023. See “Correction to Previously Reported Financial Statements” below.

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The table below sets forth the number of potential common shares underlying outstanding common stock options, restricted common stock, 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:


	September 30, 2024	September 30, 2023
Stock options	46,423,362	12,528,211
Restricted common stock held by the Sponsor	738,000	738,000
Restricted common stock held by Jamie Siminoff	19,075,675	19,075,675	(2)
Restricted stock units(1)	6,038,738	8,842,511
Warrants	16,333,301	15,333,301
Total	88,609,076	56,517,698	(2)

(1) Amount includes 2,837 liability-based RSUs as of September 30, 2023 that the Company settled 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.

(2)Amount has been corrected as of September 30, 2023. See “Correction to Previously Reported Financial Statements” below.

Latch, Inc. 10-Q