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Net Loss Per Share
9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Net Loss Per Share

10. Net Loss Per Share

Basic earnings per share (“EPS”) is calculated by dividing the net income or loss available to common stockholders by the weighted average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted EPS is computed by dividing the net income available to common stockholders by the weighted average number of common shares outstanding for the period and the weighted average number of dilutive common stock equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, common stock subject to repurchase by the Company, convertible preferred stock, options, convertible notes 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.

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

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from continuing operations

 

$

(9,313

)

 

$

(3,076

)

 

$

(18,231

)

 

$

(11,129

)

Loss from discontinued operations

 

 

(42

)

 

 

(61

)

 

 

(116

)

 

 

(220

)

Net loss

 

$

(9,355

)

 

$

(3,137

)

 

$

(18,347

)

 

$

(11,349

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

42,497

 

 

 

13,954

 

 

 

32,658

 

 

 

11,400

 

Weighted average unvested common shares subject

   to repurchase

 

 

 

 

 

(16

)

 

 

 

 

 

(51

)

Weighted average common shares outstanding—basic and diluted

 

 

42,497

 

 

 

13,938

 

 

 

32,658

 

 

 

11,349

 

Net loss per share, basic and diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(0.22

)

 

$

(0.22

)

 

$

(0.56

)

 

$

(0.98

)

Discontinued operations

 

$

(0.00

)

 

$

(0.01

)

 

$

(0.00

)

 

$

(0.02

)

Net loss per share, basic and diluted

 

$

(0.22

)

 

$

(0.23

)

 

$

(0.56

)

 

$

(1.00

)

 

The anti-dilutive securities not included in diluted net loss per share were as follows calculated on a weighted average basis (in thousands):

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Options to purchase common stock

 

 

325

 

 

 

2,948

 

 

 

367

 

 

 

1,861

 

Unvested restricted share awards

 

 

 

 

 

16

 

 

 

 

 

 

51

 

Series A Convertible Preferred Stock

 

 

2,022

 

 

 

4,848

 

 

 

2,181

 

 

 

4,135

 

Convertible Notes

 

 

922

 

 

 

 

 

 

703

 

 

 

 

Warrants to purchase common stock

 

 

1,075

 

 

 

 

 

 

1,956

 

 

 

1,013

 

Total

 

 

4,344

 

 

 

7,812

 

 

 

5,207

 

 

 

7,060