Net Income (Loss) per Share Attributable to Common Stock (Tables)

9 Months Ended

Sep. 30, 2017

Schedule of Basic and Diluted Earnings Per Share

The following table sets forth the calculation of basic and diluted net income (loss) per share attributable to common stock during the periods presented:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2017			2016				2017

Numerator:
Net income (loss)	$	5,700		$	10,558		$	(17,191	)		$	(13,203	)
Accretion of redeemable convertible preferred stock	(3,050		)	(40,224		)	56,819				(175,915		)
Undistributed earnings attributable to participating securities	(2,105		)	—			(31,483		)		—
Net income (loss) attributable to common stock—basic	545			(29,666		)	8,145				(189,118		)
Net income (loss) attributable to common stock—diluted	545			(29,666		)	(17,191		)	(1)	(189,118		)

Denominator:
Weighted average shares used to compute net income (loss) per share attributable to common stock—basic	14,441,246			58,868,903			14,339,820				29,678,082
Weighted average shares used to compute net income (loss) per share attributable to common stock—diluted	17,855,205			58,868,903			69,761,822				29,678,082
Net income (loss) per share attributable to common stock—basic	$	0.04		$	(0.50	)	$	0.57			$	(6.37	)
Net income (loss) per share attributable to common stock—diluted	$	0.03		$	(0.50	)	$	(0.25	)		$	(6.37	)

(1) A reconciliation of net income (loss) attributable to common stock—basic to net income (loss) attributable to common stock—diluted is as follows:
Net income (loss) attributable to common stock—basic							$	8,145
Add-back: Accretion due to application of if-converted							(56,819		)
Add-back: Undistributed earnings attributable to participating securities due to application of if-converted							31,483
Net income (loss) attributable to common stock—diluted							$	(17,191	)

Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following outstanding shares of common stock equivalents were excluded from the computation of the diluted net income (loss) per share attributable to common stock for the periods presented because their effect would have been anti-dilutive. For the three and nine months ended September 30, 2017 the redeemable convertible preferred stock were anti-dilutive, but converted to common stock on a one-for-one basis on August 2, 2017 upon the successful completion of the IPO, and as such were included in the weighted average shares outstanding for the period they were outstanding as shares of common stock.



	Three Months Ended September 30,		Nine Months Ended September 30,
	2016	2017	2016	2017

Redeemable convertible preferred stock	55,422,002	55,422,002	—	55,422,002
Options outstanding	4,117,639	13,298,339	12,679,454	13,298,339
Total	59,539,641	68,720,341	12,679,454	68,720,341