Net Loss Per Share

9 Months Ended

Sep. 30, 2015

16.	Net Loss Per Share

The Company calculates net income (loss) per share (EPS) available to common stockholders using the two-class method. The two-class method allocates net income that otherwise would have been available to common shareholders to holders of participating securities. In connection with the Company’s initial public offering, the Company recognized a deemed dividend of $24.9 million to Series D and E convertible preferred shareholders, as further discussed in Note 12, Redeemable Noncontrolling Interests and Equity.

Basic net income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted-average number of common shares outstanding during the period adjusted to include the effect of potentially dilutive securities. Potentially dilutive securities are excluded from the computation of dilutive EPS in periods in which the effect would be antidilutive.

The computation of the Company’s basic and diluted net loss per share are as follows (in thousands, except share and per share amounts):

	For the Three Months						For the Nine Months
	Ended September 30,						Ended September 30,
	2015			2014			2015			2014
Numerator:
Net loss attributable to common stockholders	$	(2,768	)	$	(15,214	)	$	(13,223	)	$	(44,166	)
Deemed dividend to convertible preferred stockholders		(24,890	)		—			(24,890	)		—
Net income (loss) available to common stockholders		(27,658	)		(15,214	)		(38,113	)		(44,166	)
Denominator:
Weighted average shares used to compute net loss per share available to common stockholders, basic and diluted		67,732			23,943			39,612			22,282
Basic and diluted	$	(0.41	)	$	(0.64	)	$	(0.96	)	$	(1.98	)

The following shares were excluded from the computation of diluted net loss per share as the impact of including those shares would be anti-dilutive:

	For the Three Months				For the Nine Months
	Ended September 30,				Ended September 30,
	2015		2014		2015		2014
Preferred stock		—		54,841		—		54,841
Outstanding stock options		13,754		11,166		12,262		9,620
Unvested restricted stock units		1,315		340		1,070		107
Total		15,069		66,347		13,332		64,568