Net Loss per Share Attributable to Common Stock (Tables)

9 Months Ended

Sep. 30, 2020

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,
	2020		2019		2020		2019
Numerator:
Net income (loss)	$	34,166	$	6,782	$	(32,562)	$	(73,023)
Dividend on convertible preferred stock	(1,530)		—		(2,814)		—
Undistributed earnings attributable to participating securities	(653)		—		—		—
Net income (loss) attributable to common stock—basic and diluted	$	31,983	$	6,782	$	(35,376)	$	(73,023)
Denominator:
Weighted average shares—basic(1)	99,840,144		91,994,731		97,365,122		91,279,086
Dilutive shares from stock plans	7,767,567		5,176,539		—		—
Weighted average shares—diluted(1)	107,607,711		97,171,270		97,365,122		91,279,086
Net income (loss) per share:
Net income (loss) attributable to common stock—basic	$	0.32	$	0.07	$	(0.36)	$	(0.80)
Net income (loss) attributable to common stock—diluted	$	0.30	$	0.07	$	(0.36)	$	(0.80)

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 for the periods presented because their effect would have been anti-dilutive:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
Convertible senior notes, as if converted	4,705,398	—	4,705,398	—
Convertible preferred stock, as if converted	2,040,000	—	2,040,000	—
Stock options outstanding	—	—	5,924,213	8,102,171
Restricted stock units outstanding(1)	—	1,744,366	3,932,539	4,536,677
Employee stock purchase plan	—	—	130,589	283,676
Total	6,745,398	1,744,366	16,732,739	12,922,524

(1) Net of vested restricted stock units whose settlement into common stock were deferred at the option of certain non-employee directors. The deferred shares of common stock are included in basic and diluted weighted average shares outstanding. See Note 12 for more information.