Life Time Group Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Income (Loss) Per Share

Income (Loss) Per Share

9 Months Ended

Sep. 30, 2022

Income (Loss) Per ShareFor the three and nine months ended September 30, 2022, our potentially dilutive securities include stock options and restricted stock units. For the three and nine months ended September 30, 2021, our potentially dilutive securities include stock options, restricted stock units, outstanding shares of Series A Preferred Stock and unvested restricted Series A Preferred Stock. Due to the net loss that we recognized during the nine months ended September 30, 2022 and the three and nine months ended September 30, 2021, the potentially dilutive shares of common stock associated with these equity-based securities were determined to be antidilutive and, therefore, are excluded from the computation of diluted loss per share for the nine months ended September 30, 2022 and the three and nine months ended September 30, 2021.

The following table sets forth the calculation of basic and diluted income (loss) per share for the three and nine months ended September 30, 2022 and 2021:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Net income (loss)	$	24,732	$	(45,442)	$	(15,519)	$	(274,599)
Dividends accrued on Series A Preferred Stock	—		(6,126)		—		(16,414)
Income (loss) available to common stockholders	$	24,732	$	(51,568)	$	(15,519)	$	(291,013)

Weighted-average common shares outstanding – basic	193,918		145,196		193,364		145,196
Dilutive effect of stock-based compensation awards	4,463		—		—		—
Weighted-average common shares outstanding – diluted	198,381		145,196		193,364		145,196

Income (loss) per common share – basic	$	0.13	$	(0.36)	$	(0.08)	$	(2.00)
Income (loss) per common share – diluted	$	0.12	$	(0.36)	$	(0.08)	$	(2.00)

The following is a summary of potential shares of common stock that were antidilutive and excluded from the weighted average share computations for the three and nine months ended September 30, 2022 and 2021:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2022	2021	2022	2021
Stock options	6,060	24,118	25,139	24,118
Restricted stock units	2,658	610	2,786	610
Outstanding shares of Series A Preferred Stock	—	5,430	—	5,430
Unvested restricted Series A Preferred Stock	—	500	—	500
Potential common shares excluded from the weighted average share calculations	8,718	30,658	27,925	30,658