NET LOSS PER SHARE. Basic and diluted net loss per share is computed using the weighted average number of common shares outstanding during the period, less outstanding nonvested shares. Outstanding nonvested shares are not included in the computation of basic and diluted net loss per share until the time-based vesting restriction has lapsed. However, for the purposes of computing diluted earnings per share in periods with a profit, the dilutive effect of outstanding nonvested shares would be included using the treasury stock method. The Company has other securities outstanding that could dilute basic earnings per share in the future that were not included in the computation of diluted net loss per share in the periods presented as their effect is antidilutive. For additional disclosures regarding potentially dilutive stock options, warrants, nonvested shares and convertible debentures, see Notes 4 and 7. The following table sets forth the computation of basic and diluted net loss per share (in thousands, except per share amounts): 2000 1999 1998 ------- -------- -------- Numerator for basic and diluted net loss per share: Net loss.......................................... $(6,293) $(21,399) $(40,658) ======= ======== ======== Denominator: Weighted-average common shares.................... 26,046 25,403 25,082 Weighted-average nonvested shares subject to repurchase..................................... (680) (1,142) (1,585) ------- -------- -------- Denominator for basic and diluted net loss per share............................................. 25,366 24,261 23,497 ======= ======== ======== Basic and diluted net loss per share................ $ (0.25) $ (0.88) $ (1.73) ======= ======== ======== 41 44 HEARTPORT, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
NET LOSS PER SHARE. The following is a reconciliation of the numerators and denominators used in computing basic and diluted net loss per share (in thousands): YEAR ENDED DECEMBER 31, 1999 1998 1997 Numerator: Net loss:................................................. $(4,354) $(1,673) $ (527) Redeemable preferred stock accretion...................... 6 6 3 Net loss applicable to common stockholders.................. $(4,360) $(1,679) $ (530) ======= ======= ====== Denominator: Weighted average common shares outstanding................ 6,675 3,970 3,338 Weighted average common shares held in escrow............. (76) -- -- Weighted average common shares outstanding subject to repurchase............................................. -- (61) (176) Shares used in computation, basic and diluted............. 6,599 3,909 3,162 ======= ======= ====== Net loss per share, basic and diluted....................... $ (0.66) $ (0.43) $(0.17) ======= ======= ====== The Company's computation of net loss per share excludes 88,770 shares held in escrow as discussed in Note 2, as the conditions required to release these shares from escrow had not been satisfied as of December 31, 1999. For the above-mentioned periods, the Company had securities outstanding that could potentially dilute basic earnings per share in the future, but were excluded from the computation of diluted net loss per share in the periods presented since their effect would have been anti-dilutive. These outstanding securities consisted of the following: ---------- ---------- Redeemable convertible preferred stock................. -- 863,771 864,642 Convertible preferred stock............................ -- 4,267,329 2,862,159 Shares of common stock subject to repurchase........... -- 23,537 125,813 Outstanding options.................................... 4,902,987 2,921,883 3,313,006 Warrants............................................... 425,963 182,854 287,087 ---------- ---------- Weighted average exercise price of options............. $ 3.99 $ 0.36 $ 0.16 ========== ========== ========== Weighted average exercise price of warrants............ $ 2.93 $ 0.95 $ 0.56 ========== ========== ========== 48 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED) YEARS ENDED DECEMBER 31, 1999, 1998 AND 1997
NET LOSS PER SHARE. The Company calculated net loss per share in accordance with ASC 260, Earnings per Share. Basic earnings per share (“EPS”) is calculated by dividing the net income or loss by the weighted average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted EPS is computed by dividing the net income or loss by the weighted average number of common shares outstanding for the period and the weighted average number of dilutive common stock equivalents outstanding for the period determined using the treasury stock method. The following table sets forth potential shares of common stock that are not included in the calculation of diluted net loss per share because to do so would be anti-dilutive as of the end of each period presented: Stock options outstanding 5,541 5,332 Warrants to purchase common stock 1,053 1,972 Unvested restricted stock 456 537 Total 7,050 7,841 In June 2011, the Financial Accounting Standards Board issued new accounting guidance related to the presentation of comprehensive income that increases comparability between U.S. generally accepted accounting principles and International Financial Reporting Standards. This guidance will require companies to present the components of net income and other comprehensive income (“OCI”) either as one continuous statement or as two consecutive statements, eliminating the option to present components of other comprehensive income as part of the statement of changes in stockholders’ equity. This guidance is effective for the Company’s interim and annual periods beginning January 1, 2012. The Company early adopted this guidance in 2011 and reports OCI in a separate statement. The adoption did not have a material impact on the Company’s results of operations or financial position.
NET LOSS PER SHARE. The computation of net loss per share of common stock is based on the weighted average number of shares outstanding during the period.
NET LOSS PER SHARE. In February 1997 the Financial Accounting Standards Board issued Statement No. 128, "Earnings Per Share," which is required to be adopted after December 31, 1997. Statement No. 128 supersedes Accounting Principles Board Opinion No.
NET LOSS PER SHARE. 13,028,377 ============= $ (0.37) ============= ------------- 7,772,268 ============= $ (0.70) ============= ------------- 11,451,710 ============= $ (0.92) ============= ------------ 7,770,280 ============ $ (0.98) ============
NET LOSS PER SHARE. Under SFAS No. 128, Earnings Per Share, basic and diluted loss per share is based on net loss for the relevant period, divided by the weighted average number of common shares outstanding during the period. Diluted earnings per share gives effect to all potential dilutive common shares outstanding during the period such as options, warrants, convertible preferred stock, and contingently issuable shares. Diluted net loss per share has not been presented separately as, due to the Company's net loss position, it is anti-dilutive. Had the Company been in a net income position at March 31, 2000, shares used in calculating diluted earnings per share would have included the dilutive effect of an additional 5,322,329 stock options, 2,155,715 preferred shares, placement unit options for 986,898 shares and 977,207 warrants.
NET LOSS PER SHARE. Basic net loss per share is computed using the weighted average number of common shares outstanding during the period. Dilutive net loss per share is computed using the weighted average number of common shares outstanding during the period, plus the dilutive effect of potential common stock. Potential common stock consists of convertible preferred stock, unvested restricted common stock, stock options and warrants. All potential common stock have been excluded from the calculation of diluted loss per share since its inclusion would be anti-dilutive. 7 The following table sets forth potential common stock excluded from the calculation of earnings per share since its inclusion would be antidilutive: QUARTER ENDED MARCH 31, 1999 2000 Stock options............................................ 7,217,400 14,062,343 Unvested restricted common stock......................... 22,879,524 16,110,879
NET LOSS PER SHARE. Basic net loss per share is computed using the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed using the weighted average number of common shares outstanding during the period, plus the dilutive effect of potential common stock. Potential common stock consists of convertible preferred stock, unvested restricted common stock, stock options and warrants, convertible subordinated notes and contingently issuable stock. The following table sets forth potential common stock excluded from the calculation of earnings per share since their inclusion would be antidilutive: AS OF SEPTEMBER 30, ---------------------------- 1999 ---------- 2000 ---------- Stock options......................................... 11,236,650 15,938,887 Unvested restricted common stock...................... 18,049,104 12,394,250 Convertible preferred stock........................... 37,519,041 -- Warrants.............................................. 2,075,100 2,146,494 Convertible subordinated notes........................ -- 2,598,074 Contingently issuable stock (see Note 9)........................................ -- 190,420 5. GOODWILL AND OTHER INTANGIBLE ASSETS: Goodwill and other intangible assets consist of the following (in thousands): DECEMBER 1999 31, SEPTEMBER 30, 2000 ESTIMATED USEFUL LIVES IN YEARS Goodwill.................................. $ -- $2,816,138 3 $434 ==== $2,425,207 ========== Goodwill and other intangible assets will be amortized as follows (in millions): Three months ending December 31, 2000....................... $ 239 2001........................................................ 955 2002........................................................ 955 2003........................................................ 276 ------ Total $2,425 ======
NET LOSS PER SHARE. Pro forma net loss attributable to common stockholders as originally reported for the six month ended June 30,2022 is adjusted for the pro forma impacts of the Acquisition. Basic and diluted weighted average shares outstanding as originally reported are adjusted to reflect the effects of the issuance of 2,639,531 shares of common stock to the Sellers as of January 1, 2022.
