Net Loss Per Share Attributable to Common Stockholders (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of the calculation of basic and diluted net loss per share attributable to common stockholders

The following table sets forth the calculation of basic and diluted net loss per share attributable to common stockholders during the periods presented:



	Year Ended December 31,
	2019			2018			2017
	(In thousands, except share and per share data)
Net loss attributable to common stockholders	$	(307,063	)	$	(121,949	)	$	(63,708	)
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted	130,083,046			97,130,339			91,224,607
Net loss per share attributable to common stockholders, basic and diluted	$	(2.36	)	$	(1.26	)	$	(0.70	)

Schedule of common stock equivalents excluded from the computation of the diluted net loss per share attributable to common stockholders

The following outstanding shares of common stock equivalents were excluded from the calculation of the diluted net loss per share attributable to common stockholders because their effect would have been anti-dilutive:



	As of December 31,
	2019	2018	2017
Stock options issued and outstanding	7,705,848	7,978,369	10,710,427
Nonvested restricted stock units issued and outstanding	8,490,517	8,262,902	5,665,459
Class A common stock reserved for Twilio.org	795,673	572,676	635,014
Class A common stock committed under 2016 ESPP	207,792	113,312	235,372
Conversion spread ⁽¹⁾	3,150,647	233	—
Unvested shares subject to repurchase	—	1,250	5,214
Total	20,350,477	16,928,742	17,251,486

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⁽¹⁾ Since the Company expects to settle the principal amount of its outstanding convertible senior notes in cash and any excess in shares of the Company's Class A common stock, the Company uses the treasury stock method for calculating any potential dilutive effect of the conversion spread on diluted net income per share, if applicable. The conversion spread will have a dilutive impact on diluted net income per share of Class A common stock when the average market price of the Company's Class A common stock for a given period exceeds the conversion price of $70.90 per share for the Notes. The conversion spread is calculated using the average market price of Class A common stock during the period, consistent with the treasury stock method.