Net Loss Per Share

3 Months Ended

Mar. 31, 2023

13. Net Loss Per Share

The Company computes basic net income (loss) per share by dividing net income (loss) by the weighted-average number of shares of common stock outstanding. Diluted net income (loss) 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 months ended March 31, 2023 and 2022, 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
	March 31,
	2023	2022
Basic:
Weighted average common shares outstanding	53,872,038	53,507,060
Diluted:
Weighted average common shares outstanding - Basic	53,872,038	53,507,060
Common stock equivalents*	—	—
Denominator for diluted net loss per share	53,872,038	53,507,060

*	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
	March 31,
	2023		2022
Net loss - basic and diluted	$	(26,665)	$	(27,749)
Weighted-average common shares outstanding:
Basic and diluted		53,872,038		53,507,060
Net loss per share, basic and diluted:	$	(0.49)	$	(0.52)

As of March 31, 2023, 8,992,759 stock options and 695,720 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 March 31, 2022, 7,430,629 stock options and 736,272 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.