Earnings Per Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share Basic earnings per share (“EPS”) excludes dilution and is computed by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock using the treasury stock method. Potentially dilutive securities (consisting primarily of the 2025 Notes calculated using the if-converted method and warrants, stock options and RSUs calculated using the treasury stock method) are excluded from the diluted EPS computation in loss periods and when the applicable exercise price is greater than the market price on the period end date as their effect would be anti-dilutive.

The calculation of basic and diluted earnings per share was as follows (in thousands, except share and per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net loss attributable to common stockholders	$	(22,561)	$	(16,434)	$	(34,064)	$	(55,371)
Weighted-average common shares outstanding	116,967,545		107,747,468		112,247,219		106,977,201
Basic and diluted net loss per share	$	(0.19)	$	(0.15)	$	(0.30)	$	(0.52)

The following is a summary of outstanding anti-dilutive potential shares of common stock that have been excluded from diluted net loss per share attributable to common stockholders because their inclusion would have been anti-dilutive:


	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands)	2023 1	2022	2023 1	2022
2025 Notes	14,090	14,341	14,090	14,341
Non-qualified stock options	7,295	8,557	7,586	8,787
Restricted stock units	3,024	1,438	2,336	1,441
Employee stock purchase plan	6,103	984	6,103	984
Total	30,512	25,320	30,115	25,553