| Calculation of Basic And Diluted Earnings (Loss) Per Share |
The following table sets forth the calculation of basic and diluted earnings (loss) per share for the periods indicated based on the weighted average number of shares of Class A common stock outstanding:
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
|
2021 |
|
|
2020 |
|
Basic net income (loss) per share |
|
|
|
|
|
|
Numerator: |
|
|
|
|
|
|
Net loss attributable to U.S. Well Services, Inc. |
|
$ |
(70,605 |
) |
|
$ |
(229,340 |
) |
Net loss attributable to cancellable Class A common stock |
|
|
988 |
|
|
|
5,560 |
|
Basic net loss attributable to U.S. Well Services, Inc. shareholders |
|
|
(69,617 |
) |
|
|
(223,780 |
) |
Dividends accrued on Series A preferred stock |
|
|
(5,857 |
) |
|
|
(7,214 |
) |
Dividends accrued on Series B preferred stock |
|
|
(4,591 |
) |
|
|
(2,049 |
) |
Deemed and imputed dividends on Series A preferred stock |
|
|
(750 |
) |
|
|
(13,022 |
) |
Deemed and imputed dividends on Series B preferred stock |
|
|
(7,178 |
) |
|
|
(564 |
) |
Exchange of Series A preferred stock for Convertible Senior Notes |
|
|
8,936 |
|
|
|
- |
|
Basic net loss attributable to U.S. Well Services, Inc. common shareholders |
|
$ |
(79,057 |
) |
|
$ |
(246,629 |
) |
|
|
|
|
|
|
|
Denominator: |
|
|
|
|
|
|
Weighted average shares outstanding |
|
|
32,853,855 |
|
|
|
18,971,692 |
|
Cancellable Class A common stock |
|
|
(459,909 |
) |
|
|
(459,909 |
) |
Basic and diluted weighted average shares outstanding |
|
|
32,393,946 |
|
|
|
18,511,783 |
|
Basic and diluted net loss per share attributable to Class A common shareholders |
|
$ |
(2.44 |
) |
|
$ |
(13.32 |
) |
|
| Summary of Securities Excluded from Computation of Diluted Earnings Per Share |
A summary of securities excluded from the computation of diluted earnings per share is presented below for the applicable periods:
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|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
|
2021 |
|
|
2020 |
|
Dilutive earnings per share: |
|
|
|
|
|
|
Anti-dilutive stock options |
|
|
250,649 |
|
|
|
250,649 |
|
Anti-dilutive warrants |
|
|
4,515,980 |
|
|
|
4,122,328 |
|
Anti-dilutive restricted stock |
|
|
388,886 |
|
|
|
414,082 |
|
Anti-dilutive deferred stock units |
|
|
2,052,474 |
|
|
|
2,546,245 |
|
Anti-dilutive shares from Pool B Awards |
|
|
3,387,218 |
|
|
|
2,897,855 |
|
Anti-dilutive Class B common stock convertible into Class A common stock |
|
|
- |
|
|
|
657,982 |
|
Anti-dilutive Series A preferred stock convertible into Class A common stock |
|
|
1,168,297 |
|
|
|
2,588,050 |
|
Anti-dilutive Series B preferred stock convertible into Class A common stock |
|
|
- |
|
|
|
22,355,922 |
|
Anti-dilutive Convertible Senior Notes convertible into Class A common stock |
|
|
28,056,027 |
|
|
|
- |
|
Potentially dilutive securities excluded as anti-dilutive |
|
|
39,819,531 |
|
|
|
35,833,113 |
|
|