Net Loss Per Share

6 Months Ended

Jun. 30, 2024

12. Net Loss Per Share

Basic net loss per share is calculated by dividing the net loss available to common stockholders by the weighted-average number of common shares outstanding for the period. If applicable, diluted net loss per share attributable to common stockholders is calculated by dividing net loss available to common stockholders by the diluted weighted-average number of common shares outstanding for the period, determined using the treasury-stock method and the if-converted method for convertible debt. For purposes of this calculation, common stock subject to repurchase by the Company, common stock issuable upon conversion or exercise of convertible notes, preferred shares, options, and warrants are considered to be common stock equivalents and are only included in the calculation of diluted earnings per share when their effect is dilutive. Due to the Company’s net loss position, the effect of including common stock equivalents in the earnings per share calculation is anti-dilutive, and therefore not included.

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Numerator:
Net loss	$	(40,680	)	$	(51,377	)	$	(89,175	)	$	(94,906	)
Denominator:
Weighted average common shares outstanding		142,687			118,719			141,845			114,260
Net loss per share, basic and diluted:	$	(0.29	)	$	(0.43	)	$	(0.63	)	$	(0.83	)

The following potentially dilutive shares of common stock were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented (in thousands):


	As of June 30,
	2024		2023
Options to purchase common stock and employee stock purchase plan		2,497		2,517
Unvested restricted stock unit awards		8,172		7,546
Warrants to purchase common stock		8,216		8,226
Senior convertible notes		17,246		17,246
Total		36,131		35,535