Canoo Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Net Loss per Share

Net Loss per Share

3 Months Ended

Mar. 31, 2024

The table below presents a reconciliation of the basic and diluted net loss per share that were computed for the following periods:


	March 31,
	2024		2023
Numerator:
Net loss attributable to Canoo	$	(110,687)	$	(90,732)
Less: dividend on redeemable preferred stock	862		—
Less: additional deemed dividend on redeemable preferred stock	—		—
Net loss available to common shareholders	$	(111,549)	$	(90,732)

Denominator:
Weighted-average common shares outstanding:
Basic and diluted	50,746		18,177

Net loss per common share:
Basic and diluted	$	(2.20)	$	(4.99)

For all periods presented, the shares included in computing basic net loss per share exclude restricted shares and shares issued upon the early exercise of share options where the vesting conditions have not been satisfied.

Diluted net income per share adjusts basic net income per share for the impact of potential Common Stock shares. As the Company has reported net losses for all periods presented, all potential Common Stock shares are antidilutive, and accordingly, basic net loss per share equals diluted net loss per share.

The following table presents the outstanding potentially dilutive shares that have been excluded from the computation of diluted net loss per share, because including them would have an anti-dilutive effect (in thousands):


	March 31,
	2024	2023
Convertible debt (Note 9)	20,595	—
Restricted and performance stock units	4,174	1,251
Warrants to purchase common stock (Note 15)	27,268	—
Early exercise of unvested stock options	—	17
Options to purchase common stock	5	5