Net Loss Per Share

9 Months Ended

Sep. 30, 2019

2. Net Loss Per Share

Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. Diluted net loss per share is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of the diluted net loss per share calculation, options to purchase common stock and restricted stock units (“RSUs”) are considered to be common stock equivalents.

A reconciliation of the denominator used in the calculation of basic and diluted loss per share is as follows (in thousands, except per share amounts):

	Three months ended September 30,						Nine months ended September 30,
	2019			2018			2019			2018
Numerator:
Net loss	$	(20,923	)	$	(11,472	)	$	(57,814	)	$	(35,878	)
Denominator:
Total weighted average common shares outstanding—basic		37,250			34,895			36,585			33,934
Dilutive effect of share equivalents resulting from stock options and restricted stock units		—			—			—			—
Weighted average common shares outstanding-diluted		37,250			34,895			36,585			33,934
Net loss per common share, basic and diluted	$	(0.56	)	$	(0.33	)	$	(1.58	)	$	(1.06	)

For all periods presented, we incurred net losses and, therefore, the effect of our outstanding stock options, RSUs and payroll withholdings under the 2015 Employee Stock Purchase Plan were not included in the calculation of diluted loss per share as the effect would be anti-dilutive. The following table contains share totals with a potentially dilutive impact (in thousands):

	As of September 30,
	2019		2018
Options to purchase common stock		866		1,378
Restricted stock units		2,747		1,611
Employee stock purchase plan		70		76
Total		3,683		3,065