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Net Loss per Share Attributable to Common Stock
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Net Loss per Share Attributable to Common Stock Net Loss from Continuing Operations per Share Attributable to Common Stock
Net loss from continuing operations per share attributable to common stock is computed by dividing the net loss from continuing operations attributable to common stock by the weighted-average number of common shares outstanding. We have outstanding stock options, restricted stock units, options to purchase shares under our ESPP, convertible preferred stock, and convertible senior notes, which are considered in the calculation of diluted net loss from continuing operations per share whenever doing so would be dilutive.

We calculate basic and diluted net loss from continuing operations per share attributable to common stock in conformity with the two-class method required for companies with participating securities. We consider our convertible preferred stock to be participating securities. Under the two-class method, net loss from continuing operations attributable to common stock is not allocated to the preferred stock as its holders do not have a contractual obligation to share in losses, as discussed in Note 10.

The calculation of basic and diluted net loss from continuing operations per share attributable to common stock was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Numerator:
Net loss from continuing operations$(33,782)$(18,972)$(128,436)$(103,494)
Dividends on convertible preferred stock(282)(335)(706)(858)
Net loss from continuing operations attributable to common stock—basic and diluted$(34,064)$(19,307)$(129,142)$(104,352)
Denominator:
Weighted-average shares—basic and diluted(1)
122,876,102 114,592,679 120,553,264 112,141,342 
Net loss from continuing operations per share attributable to common stock—basic and diluted$(0.28)$(0.17)$(1.07)$(0.93)
(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 that have vested but whose settlement into common stock were deferred at the option of certain non-employee directors.

The following outstanding shares of common stock equivalents were excluded from the computation of the diluted net loss from continuing operations per share for the periods presented because their effect would have been anti-dilutive:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
2025 notes as if converted(1)
1,017,284 3,234,293 1,017,284 3,234,293 
2027 notes as if converted(1)
5,379,209 6,147,900 5,379,209 6,147,900 
Convertible preferred stock as if converted2,040,000 2,040,000 2,040,000 2,040,000 
Stock options outstanding2,035,795 2,653,619 2,035,795 2,653,619 
Restricted stock units outstanding(2)(3)
13,276,376 13,605,240 13,276,376 13,605,240 
Employee stock purchase plan302,869 333,131 302,869 333,131 
Total24,051,533 28,014,183 24,051,533 28,014,183 
(1) Based on the closing price of our common stock of $12.53 on September 30, 2024, the if-converted values of both convertible notes were less than the principal amounts.
(2) Excludes 2,484,058 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 11 for additional information regarding PSUs.
(3) Excludes 91,443 restricted stock units that have vested but whose settlement into common stock were deferred at the option of certain non-employee directors as of September 30, 2024.