11. NET LOSS PER SHARE

Basic and diluted net loss per share of common stock allocable to common stockholders is calculated by dividing the net loss allocable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase, and excludes any dilutive effects of employee stock-based awards and warrants. Because the Company has reported a net loss for the three months ended March 31, 2018 and 2017, diluted net loss per common share is the same as the basic net loss per share for those periods.

The Company calculates its basic and diluted net loss per share allocable to common stockholders in conformity with the two-class method required for companies with participating securities. In computing diluted net loss allocable to common stockholders, undistributed earnings are re-allocated to reflect the potential impact of dilutive securities. The Company’s basic net loss per share allocable to common stockholders is calculated by dividing the net loss allocable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. For purposes of the calculation of diluted net loss per share allocable to common stockholders, unvested shares of common stock issued upon the early exercise of stock options, options to purchase common stock, common stock warrants and securities like convertible preferred stock and convertible preferred stock warrants that were issued and outstanding before the Company’s IPO, are considered common stock equivalents but have been excluded from the calculation of diluted net loss per share allocable to common stockholders as their effect is antidilutive.

The Company considers all series of its convertible preferred stock that were outstanding before the Company’s IPO, to be participating securities as they were entitled to receive noncumulative dividends prior and in preference to any dividends on shares of common stock. Due to the Company’s net losses, there is no impact on the loss per share calculation in applying the two-class method since the participating securities have no legal obligation to share in any losses.

The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data):

	Three Months Ended
	March 31, 2018			March 31, 2017
Numerator:
Net loss allocable to common stockholders	$	(6,634	)	$	(8,702	)
Denominator:
Weighted-average shares used in computing net loss per share, basic and diluted		99,488			4,850
Net loss per share, basic and diluted	$	(0.07	)	$	(1.79	)

The potential common shares that would be excluded from the calculation of diluted net loss per share because of their anti-dilutive effect are as follows (in thousands):

	Three Months Ended
	March 31, 2018		March 31, 2017
Equity awards to purchase common stock		24,933		23,380
Unvested shares of common stock issued upon early exercise of stock options and business acquisition		126		2
Warrants to purchase common stock		—		375
Warrants to purchase convertible preferred stock		—		1,817
Convertible preferred stock		—		80,844
Total		25,059		106,418