BurgerFi International, Inc. 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

9 Months Ended

Oct. 02, 2023

Net Loss per common share is computed by dividing Net Loss by the weighted average number of common shares outstanding for the period. The Company has considered the effect of (1) warrants outstanding to purchase 15,063,800 shares of common stock and (2) 75,000 shares of common stock and warrants to purchase 75,000 shares of common stock in the unit purchase option, (3) 2,983,500 shares of restricted stock units outstanding in the calculation of income per share, and (4) the impact of any dividends associated with our redeemable preferred stock. As the effect of these on the computation of net loss per common share would have been anti-dilutive, they were excluded from the weighted average number of common shares outstanding.

Basic and diluted net loss per common share is calculated as follows:


(in thousands, except for per share data)	Quarter Ended				Nine Months Ended
Numerator:	October 2, 2023		October 3, 2022		October 2, 2023		October 3, 2022


Net loss available to common stockholders - diluted	$	(4,958)	$	(3,332)	$	(20,110)	$	(77,269)

Denominator:




Basic and diluted weighted-average shares outstanding	26,793,358		22,253,232		25,078,410		22,146,258

Basic and diluted net loss per common share	$	(0.19)	$	(0.15)	$	(0.80)	$	(3.49)

For the quarter and nine months ended October 2, 2023 and October 3, 2022, there were no dilutive warrants.