Net Loss Per Common Share

3 Months Ended

Mar. 31, 2016

Basic and diluted net loss per common share is calculated as follows (in thousands, except share and per share data):



	Three Months Ended March 31,
	2016			2015
Numerator:
Net loss	$	(13,141	)	$	(5,343	)
Less: net loss attributable to noncontrolling interest	568			—
Net loss attributable to On Deck Capital, Inc. common stockholders	$	(12,573	)	$	(5,343	)
Denominator:
Weighted-average common shares outstanding, basic and diluted	70,366,877			69,249,462
Net loss per common share, basic and diluted	$	(0.18	)	$	(0.08	)

Diluted loss per common share is the same as basic loss per common share for all periods presented because the effects of potentially dilutive items were anti-dilutive given our net losses. The following common share equivalent securities have been excluded from the calculation of weighted-average common shares outstanding because the effect is anti-dilutive for the periods presented:



	Three Months Ended March 31,
	2016	2015
Anti-Dilutive Common Share Equivalents
Warrants to purchase common stock	22,000	309,792
Restricted stock units	3,029,299	418,778
Stock options	10,714,645	10,105,177
Total anti-dilutive common share equivalents	13,765,944	10,833,747

The weighted-average exercise price for warrants to purchase 2,228,496 shares of common stock was $10.70 as of March 31, 2016. For the period ended March 31, 2016 a warrant to purchase 2,206,496 shares of common stock was excluded from anti-dilutive common share equivalents as performance conditions had not been met.