Net Loss per Share

12 Months Ended

Dec. 31, 2015

Basic loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period, less shares subject to repurchase, and excludes any dilutive effects of employee share-based awards and warrants. Diluted net income per common share is computed giving effect to all potential dilutive common shares, including common stock issuable upon exercise of stock options, conversion of the Convertible Senior Notes and unvested restricted common stock and stock units. As we had net losses for the years ended December 31, 2015, 2014 and 2013, all potential common shares were determined to be anti-dilutive.

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



	Year Ended December 31,
	2015			2014			2013
Numerator:
Net loss	$	(539,215	)	$	(443,790	)	$	(120,635	)
Denominator:
Weighted average number of shares outstanding — basic and diluted	154,120			142,176			45,271
Net loss per share — basic and diluted	$	(3.50	)	$	(3.12	)	$	(2.66	)

The following outstanding options, unvested shares and units, ESPP shares, warrants and shares issuable upon the conversion of our Convertible Senior Notes were excluded (as common stock equivalents) from the computation of diluted net loss per common share for the periods presented as their effect would have been anti-dilutive (in thousands):



	As of December 31,
	2015	2014	2013
Options to purchase common stock	11,494	18,578	27,422
Unvested early exercised common shares	936	2,382	4,877
Unvested restricted stock awards and units	20,054	8,341	3,602
Convertible senior notes	15,141	—	—
Warrants to purchase common stock	—	—	312
ESPP shares	210	124	249