Net Loss Per Share

As the Company had net losses for the fiscal years ended March 31, 2019, 2018, and 2017, all potential common shares were determined to be anti-dilutive.

Additionally, the 4.5 million shares underlying the conversion option in the Notes are not considered in the calculation of diluted net loss per share as the effect would be anti-dilutive. The Notes were not convertible as of March 31, 2019. The Company expects to settle the principal amount of the Notes in cash and therefore will use the treasury stock method for calculating any potential dilutive effect of the conversion spread on diluted net income per share, if applicable.

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



	Year Ended March 31,
	2019			2018			2017
Numerator:
Net loss attributable to New Relic	$	(40,893	)	$	(45,320	)	$	(61,077	)
Denominator:
Weighted average shares used to compute net loss per share, basic and diluted	56,884			54,814			51,715
Net loss attributable to New Relic per share—basic and diluted	$	(0.72	)	$	(0.83	)	$	(1.18	)

The following outstanding options, unvested shares, and ESPP shares were excluded (as common stock equivalents) from the computation of diluted net loss per common share for the periods presented as their effect would have been antidilutive (in thousands):



	As of March 31,
	2019	2018	2017
Options to purchase common stock	2,751	3,215	4,607
Restricted stock units	2,419	2,079	1,978
ESPP shares	29	30	38
Common stock reserved for issuance in connection with acquisition	—	—	43
	5,199	5,324	6,666