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Net Loss Per Share
9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Net Loss Per Share

10. Net Loss Per Share

The following table summarizes the computation of basic and diluted net loss per share (in thousands, except per share data):

 

 

 

Three Month Ended

 

 

Nine Month Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Net loss

 

$

(2,065

)

 

$

(1,005

)

 

$

(4,266

)

 

$

(4,362

)

Weighted-average common shares outstanding

 

 

34,435,298

 

 

 

4,709,642

 

 

 

33,925,443

 

 

 

4,603,146

 

Less: Shares subject to repurchase

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding

 

 

34,435,298

 

 

 

4,709,642

 

 

 

33,925,443

 

 

 

4,603,146

 

Net loss per share, basic and diluted

 

$

(0.06

)

 

$

(0.21

)

 

$

(0.13

)

 

$

(0.95

)

 

Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period. Basic and diluted net loss per share is presented in conformity with the two-class method required for participating securities. Prior to the IPO, the holders of the Company’s convertible preferred stock were entitled to receive non-cumulative dividends, payable prior and in preference to any dividends on shares of the common stock. Any additional dividends would be distributed among the holders of convertible preferred stock and common stock pro rata, assuming the conversion of all convertible preferred stock into common stock. After the IPO, all convertible preferred stocks were converted to common stock and the Company has one class of stock issued and outstanding.

The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding because such securities have an antidilutive impact due to losses reported (in common stock equivalent shares):

 

 

 

As of

 

 

As of

 

 

 

September 30,

 

 

December 31,

 

 

 

2018

 

 

2017

 

Stock options to purchase common stock

 

 

2,380,170

 

 

 

3,733,544

 

Unvested restricted stock units

 

 

1,405,786

 

 

 

 

Common stock warrants

 

 

83,695

 

 

 

584,148

 

Total

 

 

3,869,651

 

 

 

4,317,692