Net Loss Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Net Loss Per Share

Net Loss Per Share

Basic and diluted net loss per share for the periods set forth below is calculated as follows (in thousands, except share and per share amounts):

	Three Months Ended March 31,
	2020			2019
Numerator:
Net loss	$	(37,654	)	$	(42,760	)
Denominator:
Weighted-average number of common shares used in loss per share - basic and diluted	46,271,123			45,671,502
Loss per share - basic and diluted	$	(0.81	)	$	(0.94	)

The following potentially dilutive securities, prior to the use of the treasury stock method, have been excluded from the computation of diluted weighted-average shares outstanding, as they would be anti-dilutive. For the three months ended March 31, 2020 and 2019, respectively, all the Company’s options to purchase common stock, warrants, and restricted stock units outstanding were assumed to be anti-dilutive as earnings attributable to common stockholders was in a loss position.

	Three Months Ended March 31,
	2020	2019
Options to purchase common stock	5,132,142	5,773,654
Warrants	—	—
Restricted stock units	944,500	557,150
Performance units	78,000	79,000

The Company has the option to settle the conversion obligation for the Convertible Notes in cash, shares or any combination of the two. As the Convertible Notes are not convertible as of March 31, 2020, they are not participating securities and they will not have an impact on the calculation of basic earnings or loss per share. Based on the Company’s net loss position, there is no impact on the calculation of dilutive loss per share during the three-month periods ended March 31, 2020 and 2019, respectively.