EXHIBIT 11.1 THERMATRIX INC. STATEMENTS OF COMPUTATION OF PRO FORMA COMMON SHARES AND EQUIVALENTS (IN THOUSANDS, EXCEPT FOR PER SHARE AMOUNTS) THREE MONTHS ENDED MARCH 31, -------------------- 1995 1995 1996 ------- --------- --------- Net Loss........................................ $(5,194) $(1,353) $(1,243) ======= ========= ========= Weighted average common shares outstanding...... 86 64 129 Weighted average common equivalent shares: Weighted average preferred stock outstanding.. 4,169 4,169 4,169 Adjustments to reflect requirements of the Securities and Exchange Commission's Staff Accounting Bulletin No. 83: Preferred Stock Issuances..................... 284 284 284 Preferred Stock Warrants...................... 17 17 17 Common Stock Option Grants.................... 350 350 350 Additional preferred stock issuances if an initial public offering is completed by July 15, 1996 (1)............... 814 814 814 ------- --------- --------- Pro forma total weighted average common shares and equivalents................................ 5,720 5,698 5,763 ======= ========= ========= Pro forma net loss per share.................... $ (0.91) $ (0.24) $ (0.22) ======= ========= ========= - -------- (1)See Note 6 and Note 10 of Notes to the Consolidated Financial Statements.