Net Loss Per Common Share

3 Months Ended

Mar. 31, 2017

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,
	2017			2016
Numerator:
Net loss	$	(11,602	)	$	(13,141	)
Less: net loss attributable to noncontrolling interest	544			568
Net loss attributable to On Deck Capital, Inc. common stockholders	$	(11,058	)	$	(12,573	)
Denominator:
Weighted-average common shares outstanding, basic and diluted	71,854,287			70,366,877
Net loss per common share, basic and diluted	$	(0.15	)	$	(0.18	)

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,
	2017	2016
Anti-Dilutive Common Share Equivalents
Warrants to purchase common stock	22,000	22,000
Restricted stock units	3,487,022	3,029,299
Stock options	10,056,752	10,714,645
Employee stock purchase program	51,491	43,617
Total anti-dilutive common share equivalents	13,617,265	13,809,561

The weighted-average exercise price for warrants to purchase 2,007,846 shares of common stock was $10.70 as of March 31, 2017. For the three months ended March 31, 2017, and 2016 a warrant to purchase 1,985,846 and 2,206,496 shares of common stock, respectively, was excluded from anti-dilutive common share equivalents as performance conditions had not been met.