Net Loss Per Share

12 Months Ended

Mar. 31, 2022

Net Loss Per ShareAs the Company had net losses for the fiscal years ended March 31, 2022, 2021, and 2020, 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, 2022.

ASU 2020-06 eliminates the treasury stock method and instead requires the application of the if-converted method to calculate the impact of convertible instruments on diluted earnings per share when the instruments may be settled in cash or shares. The required use of the if-converted method did not impact the diluted net loss per share as the Company was in a net loss position.

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


	Fiscal Year Ended March 31,
	2022		2021		2020
Numerator:
Net loss attributable to New Relic	$	(250,402)	$	(192,610)	$	(88,937)
Denominator:
Weighted average shares used to compute net loss per share, basic and diluted	64,592		61,070		58,601
Net loss attributable to New Relic per share—basic and diluted	$	(3.88)	$	(3.15)	$	(1.52)

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,
	2022	2021	2020
Options to purchase common stock	1,663	2,718	2,850
RSUs	3,351	3,293	3,100
PSUs	320	112	—
ESPP shares	45	48	69

	5,379	6,171	6,019