Net Loss Per Share Attributable to Common Shareholders

3 Months Ended

Mar. 31, 2022

Net Loss Per Share Attributable to Common Shareholders

12.Net Loss Per Share Attributable to Common Shareholders

The Company calculates basic and diluted net loss per share attributable to common shareholders in conformity with the two-class method required for companies with participating securities.

The diluted net loss per share attributable to common shareholders is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. This includes using the if-converted method for calculating any potential dilutive effect of the convertible senior notes. For purposes of this calculation, all common stock equivalents have been excluded from the

calculation of diluted net loss per share attributable to common shareholders as their effect is antidilutive. As a result, basic and diluted net loss per common share was the same for each period presented.

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

	For the Three Months Ended March 31,
	2022			2021
Numerator:
Net loss attributable to common shareholders	$	(32,557	)	$	(30,068	)
Denominator:
Weighted-average common shares outstanding-basic		87,463			85,436
Dilutive effect of share equivalents resulting from stock options, RSUs, PSUs, ESPP shares, and convertible senior notes (if converted)		—			—
Weighted-average common shares outstanding-diluted		87,463			85,436
Net loss per common share, basic and diluted	$	(0.37	)	$	(0.35	)

The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share attributable to common shareholders for the periods presented because the impact of including them would have been antidilutive (in thousands):

	For the Three Months Ended March 31,
	2022		2021
Options to purchase common shares		2,236		3,396
Unvested RSUs		2,853		2,258
Unvested PSUs		243		75
ESPP shares		9		7
Convertible senior notes (if converted)		4,100		—
Total		9,441		5,736