Bird Global, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Loss Per Share

Loss Per Share

9 Months Ended

Sep. 30, 2023

Basic loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period without consideration for common stock equivalents. Diluted loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period and potentially dilutive common stock equivalents, except in cases where the effect of the common stock equivalent would be anti-dilutive.

The Company computes loss per share using the two-class method. The rights, including the liquidation and dividend rights, of the Class A Common Stock and Class X Common Stock are identical, other than voting rights. Accordingly, the Class A Common Stock and Class X Common Stock share equally in the Company’s net losses. Because the computed loss per share for holders of the Class A Common Stock and the Class X Common Stock is identical, the Company does not present separate loss per share computations.

The following table presents the calculation of basic loss per share (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net loss	$	(19,812)	$	(9,766)	$	(73,440)	$	(322,334)
Basic weighted-average shares outstanding	13,485		11,387		12,974		11,122
Loss per share - Basic	$	(1.47)	$	(0.86)	$	(5.66)	$	(28.98)

The following outstanding securities were excluded from the computation of loss per share because their effect would have been anti-dilutive for the periods presented (in thousands):


	As of September 30,
	2023	2022
Convertible Senior Secured Notes	8,799	—
Stock options	421	447
Time-based vesting RSUs	745	1,198
Market-based vesting RSUs	170	1,163
Warrants to purchase Class A Common Stock	517	517
Contingently issuable shares	79	79
Total	10,732	3,405

While the portion of the Earnout Shares designated to holders of common stock of Bird Rides immediately prior to the consummation of the Business Combination would have been anti-dilutive for the periods presented, such Earnout Shares are not outstanding securities and have been excluded from the table above.