Net Loss per Share Attributable to Common Stock (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Basic and Diluted Earnings Per Share

The calculation of basic and diluted net loss per share attributable to common stock was as follows:


	Year Ended December 31,
	2022		2021		2020
Numerator:
Net loss	$	(321,143)	$	(109,613)	$	(18,527)
Dividends on convertible preferred stock	(1,560)		(7,269)		(4,454)
Net loss attributable to common stock—basic and diluted	$	(322,703)	$	(116,882)	$	(22,981)

Denominator:
Weighted-average shares—basic and diluted(1)	107,927,464		104,683,460		98,574,529
Net loss per share attributable to common stock—basic and diluted	$	(2.99)	$	(1.12)	$	(0.23)

(1) Basic and diluted weighted-average shares outstanding include (i) common stock earned but not yet issued related to share-based dividends on our convertible preferred stock, and (ii) restricted stock units whose settlement into common stock were deferred at the option of certain non-employee directors.

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 loss per share attributable to common stock for the periods presented because their effect would have been anti-dilutive.


	Year Ended December 31,
	2022	2021	2020
2023 notes as if converted	769,623	769,623	838,821
2025 notes as if converted	7,154,297	9,119,960	9,119,960
2027 notes as if converted	6,147,900	6,147,900	—
Convertible preferred stock as if converted	2,040,000	2,040,000	2,040,000
Stock options outstanding(1)	3,282,789	4,019,011	5,733,738
Restricted stock units outstanding(1)(2)	15,710,223	4,589,696	4,443,315

Total	35,104,832	26,686,190	22,175,834

(1) Excludes 1,593,465 incremental PSUs that could vest, assuming applicable performance criteria and market conditions are achieved at 200% of target, which is the maximum achievement level. See Note 12 for additional information regarding PSUs.

(2) Excludes 21,409 restricted stock units whose settlement into common stock were deferred at the option of certain non-employee directors as of December 31, 2022.