Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Share (Tables)

v3.8.0.1
Net Loss Per Share (Tables)
 3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
Schedule of basic and diluted net loss per share of common stock
The following table sets forth the computation of basic and diluted net loss per share of common stock (in thousands, except per share amounts):

 
Three Months Ended March 31,
 
2017
 
2016
Net loss (numerator):
 
 
 
Net loss – basic and diluted
$
(125,611
)
 
$
(2,412
)
 
 
 
 
Shares (denominator):
 
 
 
Weighted-average shares – basic and diluted
85,440

 
78,643

 
 
 
 
Loss per share - basic and diluted
$
(1.47
)
 
$
(0.03
)

 
Three Months Ended March 31,
 
2017
 
2016
Net loss (Numerator):
 
 
 
Net loss
$
(125,611
)
 
$
(2,412
)
Net income attributable to non-controlling interest
—

 
—

Net loss attributable to Global Eagle Entertainment, Inc. common stockholders for basic and diluted EPS
(125,611
)
 
(2,412
)
 
 
 
 
Less: adjustment for change in fair value on warrants liability for diluted EPS after assumed exercise of warrants liability
—

 
—

Net loss for dilutive EPS
$
(125,611
)
 
$
(2,412
)
 
 
 
 
Shares (Denominator):
 
 
 
Weighted average common shares outstanding - basic
85,440

 
78,643

Dilutive effect of stock options and warrants
—

 
—

Weighted average common shares outstanding - diluted
85,440

 
78,643

 
 
 
 
Net loss per share:
 
 
 
Basic
$
(1.47
)
 
$
(0.03
)
Diluted
$
(1.47
)
 
$
(0.03
)
Schedule of antidilutive securities
The following weighted average common equivalent shares are excluded from the calculation of the Company’s net loss per share as their inclusion would have been anti-dilutive (in thousands):
 
Three Months Ended March 31,
 
2017
 
2016
Employee stock options
6,602

 
5,550

Restricted stock units
1,581

 
242

Equity warrants (1)
1,072

 
88

Public SPAC Warrants (2)
6,173

 
6,173

2.75% convertible senior notes due 2035
4,447

 
4,447

EMC deferred consideration (3)
4,834

 
—

Contingently issuable shares (4)
900

 
—


(1)
These are Legacy Row 44 warrants originally issuable for Row 44 common stock and Row 44 Series C preferred stock, and now issuable for our Common Stock. See Note 11. Common Stock, Share-Based Awards and Warrants.

(2)
These are 6,173,228 warrants issued in our initial public offering to non-sponsor shareholders and we refer to them as our “Public SPAC Warrants”. See Note 11. Common Stock, Share-Based Awards and Warrants.

(3)
In connection with the EMC Acquisition on July 27, 2016 (the “EMC Acquisition Date”), we were obligated to pay $25.0 million in cash or stock, at our option, on July 27, 2017, which we elected to pay in 5,080,049 newly issued shares of our common stock on that date. See Note 9. Commitments and Contingencies. This “EMC deferred consideration” represents those shares.

(4)
In connection with a Sound Recording Settlement, we are obligated to issue 500,000 shares of our common stock when and if the closing price of our common stock exceeds $10.00 per share, and 400,000 shares of our common stock when and if the closing price of our common stock exceeds $12.00 per share. See Note 9. Commitments and Contingencies.