Net Loss Per Share

9 Months Ended

Sep. 30, 2022

13. Net Loss Per Share

The Company computes basic net loss per share by dividing net loss by the weighted-average number of shares of common stock outstanding. Diluted net income per share includes the potential dilutive effect of common stock equivalents as if such securities were exercised during the period, when the effect is dilutive. Common stock equivalents may include outstanding stock options or restricted stock units, which are included using the treasury stock method when

dilutive. For the three and nine months ended September 30, 2022 and 2021, the Company excluded the effects of potentially dilutive shares that were outstanding during those respective periods from the denominator as their inclusion would be anti-dilutive due to the Company’s net losses during those periods.

The denominators used in the net loss per share computations are as follows:


	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2022	2021	2022	2021
Basic:
Weighted average common shares outstanding	53,726,123	50,114,710	53,616,753	50,031,615
Diluted:
Weighted average common shares outstanding - Basic	53,726,123	50,114,710	53,616,753	50,031,615
Common stock equivalents*	—	—	—	—
Denominator for diluted net loss per share	53,726,123	50,114,710	53,616,753	50,031,615

*	No amounts were considered as their effects would be anti-dilutive.

Basic and diluted net loss per share are computed as follows:


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Net loss - basic and diluted	$	(23,180)	$	(1,013)	$	(55,135)	$	(55,059)
Weighted-average common shares outstanding:
Basic and diluted		53,726,123		50,114,710		53,616,753		50,031,615
Net loss per share, basic and diluted:	$	(0.43)	$	(0.02)	$	(1.03)	$	(1.10)

As of September 30, 2022, 7,654,523 stock options and 640,950 restricted stock units were outstanding, which could potentially dilute basic earnings per share in the future, but were not included in the computation of diluted net loss per share because to do so would have been anti-dilutive as a result of the net loss for the period.

As of September 30, 2021, 5,974,549 stock options and 365,029 restricted stock units were outstanding, which could potentially dilute basic earnings per share in the future, but were not included in the computation of diluted net loss per share because to do so would have been anti-dilutive as a result of the net loss for the period.