Net Loss Per Share

6 Months Ended

Jun. 30, 2023

Basic net loss per share is computed by dividing the net loss for the period by the weighted average number of shares of common stock outstanding during the period. The calculation of diluted net loss per share gives effect to common stock equivalents; however, potential common stock equivalents are excluded if their effect is antidilutive. Potential common stock equivalents are composed of incremental shares of common stock issuable upon the exercise of stock options and the vesting of restricted stock units. In periods when a net loss is reported, all common stock equivalents are excluded from the calculation because they would have an anti-dilutive effect, meaning the loss per share would be reduced. Therefore, in periods when a loss is reported, basic and dilutive loss per share are the same.

The following table is a reconciliation of the numerator and denominator in the basic and diluted net loss per share calculation (in thousands, except per share data) for the three and six months ended June 30, 2023, and 2022:


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Net loss	$	(24,836)	$	(12,564)	$	(48,654)	$	(20,150)
Weighted average number of shares outstanding:
Basic	31,222		27,657		31,132		27,593
Effect of dilutive securities:
Stock options, restricted stock units and share awards	—		—		—		—
Diluted	31,222		27,657		31,132		27,593
Net loss per share:
Basic	$	(0.80)	$	(0.45)	$	(1.56)	$	(0.73)
Diluted	$	(0.80)	$	(0.45)	$	(1.56)	$	(0.73)

The following table sets forth potential common stock that is not included in the diluted net loss per share calculation above because their effect would be anti-dilutive for the periods indicated (in thousands):


	Three months ended June 30,		Six months ended June 30,
	2023	2022	2023	2022
Outstanding stock options	1,355	948	1,388	943
Unvested restricted stock units	2,534	214	1,182	236