Sunrun Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Net Income (Loss) Per Share

Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2022

Basic net income (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period adjusted to include the effect of potentially dilutive securities. Potentially dilutive securities are excluded from the computation of dilutive EPS in periods in which the effect would be antidilutive.

The computation of the Company’s basic and diluted net income (loss) per share is as follows (in thousands, except per share amounts):


	Years Ended December 31,
	2022		2021		2020
Numerator:
Net income (loss) attributable to common stockholders	$	173,377	$	(79,423)	$	(173,394)
Debt discount amortization	2,258		—		—
Net Income (loss) available to common stockholders	$	175,635	$	(79,423)	$	(173,394)
Denominator:
Weighted average shares used to compute net income (loss) per share attributable to common stockholders, basic	211,347		205,132		139,606
Weighted average effect of potentially dilutive shares to purchase common stock	7,810		—		—
Weighted average shares used to compute net income (loss) per share attributable to common stockholders, diluted	219,157		205,132		139,606
Net income (loss) per share attributable to common stockholders
Basic	$	0.82	$	(0.39)	$	(1.24)
Diluted	$	0.80	$	(0.39)	$	(1.24)

The following shares were excluded from the computation of diluted net income (loss) per share as the impact of including those shares would be anti-dilutive (in thousands):


	Year Ended December 31,
	2022	2021	2020

Outstanding stock options	1,661	799	1,286
Unvested restricted stock units	2,863	1,448	1,493
Convertible Senior Notes (if converted)	—	3,128	—
Total	4,524	5,375	2,779