Clever Leaves 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, 2021

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 loss 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
	March 31, 2021		March 31, 2020
Numerator:
Net loss	$	(13,765)	$	(10,186)





Denominator:
Weighted-average common shares outstanding - basic and diluted	25,030,080		8,304,030

Net loss per share attributable to Clever Leaves Holdings Inc. common shareholders - basic and diluted	$	(0.55)	$	(1.23)

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 at March 31, 2021 and 2020, from the computation of diluted net loss per share attributable to common shareholders because including them would have had an anti-dilutive effect:


	March 31, 2021	March 31, 2020

Common stock warrants	17,850,460	—
SAMA earnout shares	570,211	—
Stock options	948,322	1,195,024
Unvested restricted share units	1,448,032	—
Total	20,817,025	1,195,024