The Company applies the two-class method for computing earnings per share because its Series A redeemable convertible preferred stock and the warrants issued with that preferred stock are participating securities. Under the two-class method, net income for the period is allocated between common stockholders and the participating securities according to dividends declared, if any, and participation rights in undistributed earnings. Because the Company incurred a net loss for the three and nine months ended September 30, 2022, and the holders of the participating securities do not have the contractual obligation to share in the losses of the Company on a basis that is objectively determinable, none of the net loss attributable to common stockholders was allocated to the participating securities when computing earnings per share.

The net loss attributable to common stockholders was increased by $0.3 million to reflect the deemed dividend paid to holders of the Series A redeemable convertible preferred stock to accrete the carrying amount of that preferred stock to its redemption value.

The following shares were excluded from the calculation of diluted net loss per share applicable to common stockholders, prior to the application of the treasury stock or if-converted methods, because their effect would have been anti-dilutive for the periods presented:

	Three and Nine Months Ended September 30,
	2022		2021
Options to purchase common shares		193,220		186,352
Restricted stock units		224,302		134,599
Warrants to purchase common stock		64,801		21,944
Series A redeemable convertible preferred stock		3,000		—
Total		485,323		342,895

Note that the net loss per share computations for all periods presented reflect the changes in the number of shares resulting from the 50 to 1 reverse stock split that was approved by shareholders on October 11, 2022 and became effective as of October 12, 2022. The number of shares of common stock issued and outstanding immediately before the reverse stock split was 352,957,478; the number of shares outstanding immediately after the reverse split was 7,059,144, a decrease of 345,898,334 shares.