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

6 Months Ended

Jun. 30, 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:


	Six Months Ended				Three Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Numerator:
Net loss	$	(22,721)	$	(18,939)	$	(8,956)	$	(8,753)
Adjustments to reconcile to net loss available to common stockholders:

Net loss attributable to non-controlling interests	—		(1,648)		—		(744)
Net loss attributable to Clever Leaves Holdings Inc. common shareholders — basic and diluted	$	(22,721)	$	(17,291)	$	(8,956)	$	(8,009)

Denominator:
Weighted-average common shares outstanding - basic and diluted	25,311,077		9,052,317		25,588,987		9,800,604

Net loss per share attributable to Clever Leaves Holdings Inc. common shareholders - basic and diluted	$	(0.90)	$	(1.91)	$	(0.35)	$	(0.82)

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 June 30, 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:



	June 30, 2021	June 30, 2020

Common stock warrants	17,850,460	—
SAMA earnout shares	570,211	—
Stock options	802,769	1,083,498
Unvested restricted share units	1,442,943	—
Total	20,666,383	1,083,498