Net Loss Per Common Share

6 Months Ended

Jun. 30, 2016

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



	Three Months Ended June 30,					Six Months Ended June 30,
	2016			2015		2016			2015
Numerator:
Net income (loss)	$	(18,708	)	$	4,748	$	(31,849	)	$	(595	)
Less: net loss attributable to noncontrolling interest	813			232		1,381			232
Net income (loss) attributable to On Deck Capital, Inc. common stockholders	$	(17,895	)	$	4,980	$	(30,468	)	$	(363	)
Denominator:
Weighted-average common shares outstanding:
Basic	70,712,142			69,479,737		70,588,784			69,366,278
Weighted-average effect of dilutive securities:
Stock options	—			5,819,581		—			—
Restricted stock and RSU's	—			40,032		—			—
Employee stock purchase program	—			58,776		—			—
Warrants to purchase common stock	—			282,164		—			—
Diluted weighted-average common shares outstanding	70,712,142			75,680,290		70,588,784			69,366,278
Net income (loss) attributable to On Deck Capital, Inc. common stockholders per common share:
Basic	$	(0.25	)	$	0.07	$	(0.43	)	$	(0.01	)
Diluted	$	(0.25	)	$	0.07	$	(0.43	)	$	(0.01	)

Diluted loss per common share is the same as basic loss per common share for all loss periods presented because the effects of potentially dilutive items were anti-dilutive given our net losses in those periods. 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 June 30,		Six Months Ended June 30,
	2016	2015	2016	2015
Anti-Dilutive Common Share Equivalents
Warrants to purchase common stock	22,000	22,000	22,000	309,792
Restricted stock units	3,356,202	351,737	3,356,202	555,666
Stock options	10,692,143	1,125,043	10,692,143	9,911,822
Total anti-dilutive common share equivalents	14,070,345	1,498,780	14,070,345	10,777,280

The weighted-average exercise price for warrants to purchase 2,228,496 shares of common stock was $10.70 as of June 30, 2016. For the three months and six months ended June 30, 2016 and 2015 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.