Clever Leaves Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2023

Basic net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the year, without consideration for common share equivalents. Diluted net loss per share is computed by dividing net loss by the weighted-average number of common share equivalents outstanding for the year determined using the treasury-stock method. For purposes of this calculation, common share warrants and stock options are considered to be common share equivalents and are only included in the calculation of diluted net income per share when their effect is dilutive.

The following table sets forth the computation of basic and diluted net loss and the weighted average number of shares used in computing basic and diluted net loss per share:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator:
Income (loss) from continuing operations	$	(3,261)	$	1,856	$	(7,412)	(11,968)
Loss from discontinued operations	$	(334)	$	(2,902)	$	(264)	(5,218)
Net loss - basic and diluted	$	(3,595)	$	(1,046)	$	(7,676)	$	(17,186)





Denominator:
Weighted-average common shares outstanding - basic and diluted	44,866,179		39,559,793		44,387,392		33,792,261

Net loss per common share - basic and diluted:
Income (loss) from continuing operations	$	(0.07)	$	0.05	$	(0.17)	$	(0.35)
Loss from discontinued operations	$	(0.01)	$	(0.08)	$	(0.01)	$	(0.16)

The Company's potentially dilutive securities, which include common stock, warrants, stock options, and unvested restricted stock have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common shareholders is the same.

The Company excluded the following potential common shares, presented based on amounts outstanding as of June 30, 2023 and 2022, from the computation of diluted net loss per share attributable to common shareholders because including them would have had an anti-dilutive effect:



	June 30, 2023	June 30, 2022

Common stock warrants	17,777,361	17,840,951
SAMA earnout shares	570,211	570,211
Stock options	354,382	498,798
Unvested restricted share units	2,672,145	2,370,289
Total	21,374,099	21,280,249