Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2023

Net Loss Per Share

Basic earnings per share is calculated by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding, net of the weighted average unvested restricted stock subject to repurchase by the Company, if any, during the period. Diluted earnings per share is calculated by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding, adjusted for the effects of potentially dilutive common stock, which are comprised of stock options, restricted stock units and stock warrants, using the treasury-stock method, and convertible preferred stock, using the if-converted method. Because the Company reported losses attributable to common stockholders for all periods presented, all potentially dilutive common stock is antidilutive for those periods.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders during the years ended December 31, 2023, 2022, and 2021 (in thousands, except per share data):


	Year Ended December 31,
	2023		2022		2021
Net loss	$	(49,766)	$	(118,685)	$	(38,329)
Loss from continuing operations	$	(49,766)	$	(118,685)	$	(38,369)
Income from discontinuing operations, net of taxes	$	—	$	—	$	40

Weighted-average common shares outstanding, basic and diluted	89,766		91,452		97,352

Loss per share, basic and diluted
Continuing operations	$	(0.55)	$	(1.30)	$	(0.39)
Discontinued operations	$	—	$	—	$	—

The following table presents the number of anti-dilutive shares excluded from the calculation of diluted net loss per share attributable to common stockholders at December 31, 2023, 2022, and 2021 (in thousands):


	December 31,
	2023	2022	2021
Options to purchase common stock	2,241	5,114	6,078
Unvested restricted stock units	5,764	7,519	6,444
Unvested performance stock units	2,519	2,489	1,092
Total shares excluded from net loss per share attributable to common stockholders	10,524	15,122	13,614