Net Loss Per Share

12 Months Ended

Dec. 31, 2015

Note 22. Net Loss Per Share

Prior to the Company’s initial public offering and conversion of all preferred stock, the Company calculated 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 16, Shareholders’ 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):

	Years Ended December 31,
	2015			2014			2013
Numerator:
Net loss attributable to common stockholders	$	(28,246	)	$	(70,852	)	$	(1,201	)
Deemed dividend to convertible preferred stockholders		(24,890	)		—			—
Net loss available to common stockholders		(53,136	)		(70,852	)		(1,201	)
Denominator:
Weighted average shares used to compute net loss per share available to common stockholders, basic and diluted		55,091			22,795			9,780
Basic and diluted	$	(0.96	)	$	(3.11	)	$	(0.12	)

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:

	Year Ended December 31,
	2015		2014		2013
Preferred stock		—		54,841		43,998
Warrants		1,251		—		—
Outstanding stock options		12,615		11,408		8,127
Unvested restricted stock units		723		—		—
ESPP		79		—		—
Total		14,668		66,249		52,125