Net Loss Per Share

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Net Loss Per Share

Net Loss Per Share

Basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potential shares of common stock, including our outstanding stock options and stock related to unvested restricted stock awards to the extent dilutive.

The net loss per share attributable to common stockholders is allocated based on the participation rights of the Class A and Class B common shares as if the loss for the year has been distributed. As the liquidation and dividend rights are identical, the net loss attributable to common stockholders is allocated on a proportionate basis.

We consider unvested restricted stock awards granted under the 2014 Equity Incentive Plan to be participating securities because holders of such shares have non-forfeitable dividend rights in the event of our declaration of a dividend for common shares. In future periods to the extent we are profitable, we will subtract earnings allocated to these participating securities from net income to determine net income attributable to common stockholders.

A reconciliation of the denominator used in the calculation of basic and diluted loss per share is as follows (in thousands, except share and per share data):

	Three months ended
	March 31, 2016						March 31, 2015
	Class A			Class B			Class A			Class B
Numerator
Net loss	$	(8,496	)	$	(3,549	)	$	(5,110	)	$	(2,337	)
Denominator
Weighted-average common shares outstanding - basic and diluted	28,534,236			11,917,432			27,166,753			12,426,947
Basic and diluted net loss per share	$	(0.30	)	$	(0.30	)	$	(0.19	)	$	(0.19	)

The anti-dilutive securities excluded from the weighted-average shares used to calculate the diluted net loss per common share were as follows:

	As of
	March 31, 2016	March 31, 2015
Shares subject to outstanding common stock options	7,500,616	6,091,831
Shares subject to unvested restricted stock awards	423,360	584,350