Net Loss Per Share

6 Months Ended

Sep. 30, 2020

Basic net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period, less shares subject to repurchase, and excludes any dilutive effects of employee share-based awards and warrants. Diluted net loss per 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. As the Company had net losses for each of the three and six months ended September 30, 2020 and 2019, all potential common shares were determined to be anti-dilutive, resulting in basic and diluted net loss per share being equal. Additionally, the 4.5 million shares underlying the conversion option in the Notes were 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 September 30, 2020. 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):


	Three Months Ended September 30,				Six Months Ended September 30,
	2020		2019		2020		2019
Numerator:
Net loss attributable to New Relic	$	(47,551)	$	(18,614)	$	(77,307)	$	(33,783)
Denominator:
Weighted average shares used to compute net loss per share, basic and diluted	60,545		58,372		60,237		58,161
Net loss attributable to New Relic per share—basic and diluted	$	(0.79)	$	(0.32)	$	(1.28)	$	(0.58)

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 September 30,
	2020	2019
Options to purchase common stock	3,065	2,860
RSUs and PSUs	4,278	2,296
ESPP shares	64	55
	7,407	5,211