Net Loss Per Share

12 Months Ended

Dec. 31, 2023

NET LOSS PER SHARE

Basic net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period and excludes any dilutive effects of stock-based awards and warrants. Diluted net loss per common share is computed giving effect to all potential dilutive common shares, including common stock issuable upon exercise of stock options, and unvested restricted common stock and stock units. As we had net losses for the years ended December 31, 2023, 2022 and 2021, all potential common shares were determined to be anti-dilutive.

The following table sets forth the computation of net loss per common share (in thousands, except per share dollar amounts):


	Year Ended December 31,
	2023		2022		2021
Numerator:
Net loss	$	(66,067)	$	(67,207)	$	(158,165)
Denominator:
Weighted average common shares outstanding - basic and diluted	219,331		158,690		104,206
Net loss per share - basic and diluted	$	(0.30)	$	(0.42)	$	(1.52)

For the years ended December 31, 2023, 2022 and 2021, the total numbers of securities that could potentially dilute net income per share in the future that were not considered in the diluted net loss per share calculations because the effect would have been anti-dilutive were as follows (in thousands):


	Year Ended December 31,
	2023	2022	2021
Options to purchase common stock	20,877	13,522	11,871
Restricted stock units	3,086	2,694	1,602
ESPP shares issuable	249	166	207

Total	24,212	16,382	13,680

The number of potential common shares that would have been included in diluted income per share had it not been for the anti-dilutive effect caused by the net loss, computed by converting these securities using the treasury stock method during the years ended December 31, 2023, 2022 and 2021, was approximately 6.3 million, 0.6 million and 1.1 million, respectively.