Net Income (Loss) Per Common Share (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Earnings Per Share, Basic and Diluted

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



	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Numerator:
Net income (loss)	$	8,142		$	9,338		$	15,638		$	11,374
Less: Net income (loss) attributable to noncontrolling interest	(542		)	(272		)	(3,007		)	(1,807		)
Net income (loss) attributable to On Deck Capital, Inc. common stockholders	$	8,684		$	9,610		$	18,645		$	13,181
Denominator:
Weighted-average common shares outstanding, basic	75,433,008			74,715,592			75,722,117			74,362,211
Net income (loss) per common share, basic	$	0.12		$	0.13		$	0.25		$	0.18
Effect of dilutive securities	2,325,273			4,656,899			2,854,782			3,952,508
Weighted-average common shares outstanding, diluted	77,758,281			79,372,491			78,576,899			78,314,719
Net income (loss) per common share, diluted	$	0.11		$	0.12		$	0.24		$	0.17
Anti-dilutive securities excluded	8,184,291			3,020,562			6,628,241			5,169,484

Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method

The following common share equivalent securities have been included in the calculation of dilutive weighted-average common shares outstanding:



	Three Months Ended September 30,		Nine Months Ended September 30,
Dilutive Common Share Equivalents	2019	2018	2019	2018
Weighted-average common shares outstanding	75,433,008	74,715,592	75,722,117	74,362,211
RSUs and PRSUs	254,262	1,616,072	562,381	1,083,237
Stock options	2,071,011	3,040,827	2,286,727	2,869,271
Employee stock purchase plan	—	—	5,674	—
Total dilutive common share equivalents	77,758,281	79,372,491	78,576,899	78,314,719

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following common share equivalent securities were excluded from the calculation of diluted net income per share attributable to common stockholders. Their effect would have been antidilutive for the three and nine months ended September 30, 2019 and 2018.



	Three Months Ended September 30,		Nine Months Ended September 30,
	2019	2018	2019	2018
Anti-Dilutive Common Share Equivalents
Warrants to purchase common stock	—	22,000	—	22,000
RSUs and PRSUs	3,099,262	124,582	1,890,242	527,326
Stock options	4,498,581	2,840,298	4,151,551	4,586,476
Employee stock purchase plan	586,448	33,682	586,448	33,682
Total anti-dilutive common share equivalents	8,184,291	3,020,562	6,628,241	5,169,484