Local Bounti Corporation 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, 2024

Net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. In computing net loss per share, the Company's unvested restricted common stock and warrants are not considered participating securities. Diluted loss per common share is the same as basic loss per common share for the three months ended March 31, 2024 and 2023 because the effects of potentially dilutive items were anti-dilutive given the Company's net loss. Diluted net loss per common share represents an adjustment to basic net loss per share attributable to common stockholders giving effect to all potential common shares that were dilutive and outstanding during the period.

The following table sets forth the computation of the Company's net loss per share attributable to common stockholders:


	Three Months Ended March 31,
	(in thousands, except share and per share data)
	2024		2023
Net loss	$	(24,050)	$	(23,527)
Weighted average common shares outstanding, basic and diluted	8,325,944		7,727,866
Net loss per common share, basic and diluted	$	(2.89)	$	(3.04)

The following table discloses the weighted-average shares outstanding of securities that could potentially dilute basic net loss per share in the future that were not included in the computation of diluted net loss per share as the impact would be anti-dilutive:


	Three Months Ended March 31,
	2024	2023
Restricted Stock	108,553	249,565
Warrants	6,241,475	1,125,578