Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Share

v3.22.2.2
Net Loss Per Share
6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Net Loss Per Share

Note 16 — Net Loss Per Share

 

The respective “Net loss per share - attributable to PAVmed Inc. - basic and diluted” and “Net loss per share - attributable to PAVmed Inc. common stockholders - basic and diluted” - for the periods indicated - is as follows:

 

                                 
   

Three Months Ended

June 30,

   

Six Months Ended

June 30,

 
    2022     2021     2022     2021  
Numerator                                
Net loss - before noncontrolling interest   $ (29,101 )   $ (12,670 )   $ (48,734 )   $ (22,779 )
Net loss attributable to noncontrolling interest     3,576       1,199       6,337       1,877  
Net loss - as reported, attributable to PAVmed Inc.   $ (25,525 )   $ (11,471 )   $ (42,397 )   $ (20,902 )
                                 
Series B Convertible Preferred Stock dividends – earned   $ (70 )   $ (74 )   $ (138 )   $ (149 )
                                 
Net loss attributable to PAVmed Inc. common stockholders   $ (25,595 )   $ (11,545 )   $ (42,535 )   $ (21,051 )
                                 
Denominator                                
Weighted average common shares outstanding, basic and diluted     86,957,352       82,235,397       86,689,857       78,117,637  
                                 
Loss per share                                
Basic and diluted                                
Net loss - as reported, attributable to PAVmed Inc.   $ (0.29 )   $ (0.14 )   $ (0.49 )   $ (0.27 )
Net loss attributable to PAVmed Inc. common stockholders   $ (0.29 )   $ (0.14 )   $ (0.49 )   $ (0.27 )

 

The common stock equivalents have been excluded from the computation of diluted weighted average shares outstanding as their inclusion would be anti-dilutive, are as follows:

 

The Series B Convertible Preferred Stock dividends earned as of the each of the respective periods noted, are included in the calculation of basic and diluted net loss attributable to PAVmed Inc. common stockholders for each respective period presented. Notwithstanding, the Series B Convertible Preferred Stock dividends are recognized as a dividend payable only upon the dividend being declared payable by the Company’s board of directors.

 

Basic weighted-average number of shares of common stock outstanding for the periods ended June 30, 2022 and 2021 include the shares of the Company issued and outstanding during such periods, each on a weighted average basis. The basic weighted average number of shares of common stock outstanding excludes common stock equivalent incremental shares, while diluted weighted average number of shares outstanding includes such incremental shares. However, as the Company was in a loss position for all periods presented, basic and diluted weighted average shares outstanding are the same, as the inclusion of the incremental shares would be anti-dilutive. The common stock equivalents excluded from the computation of diluted weighted average shares outstanding are as follows:

 

    2022     2021  
    June 30,  
    2022     2021  
Stock options and restricted stock awards     12,177,406       10,573,530  
Series Z Warrants     11,937,450       15,074,281  
Series W Warrants           381,818  
Series B Convertible Preferred Stock     1,158,950       1,185,685  
Total     25,273,806       27,215,314  

 

The total stock options and restricted stock awards are inclusive of 500,854 stock options as of June 30, 2022 and 2021; and 100,000 restricted stock awards as of June 30, 2022, granted outside the PAVmed Inc. 2014 Equity Plan.