Net Loss Per Share Attributable to Common Stockholders

3 Months Ended

Mar. 31, 2020

Net Loss Per Share Attributable to Common Stockholders

We compute net loss per share using the two-class method required for multiple classes of common stock and participating securities. The rights of the holders of the Class A common stock and Class B common stock are identical, except with respect to voting and conversion. Accordingly, the Class A common stock and Class B common stock share equally in our net losses. Prior to the IPO, our participating securities also included convertible preferred stock. The holders of convertible preferred stock did not have a contractual obligation to share in our losses, and as a result, net losses were not allocated to these participating securities.

The following table sets forth the calculation of basic and diluted net loss per share attributable to common stockholders during the periods presented. The shares issued in the IPO, the shares issued pursuant to the exercise by the underwriters of an option to purchase additional shares, and the shares of Class A and Class B common stock issued upon conversion of the outstanding shares of convertible preferred stock in the IPO are included in the table below weighted for the period outstanding:



	Three months ended March 31,
	2020						2019
	Class A⁽¹⁾			Class B⁽²⁾			Class A	Class B⁽²⁾
	(in thousands, except per share amounts)
Net loss attributable to common stockholders	$	(8,196	)	$	(3,794	)	N/A	$	(9,727	)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	65,210			30,191			N/A	25,290
Net loss per share attributable to common stockholders, basic and diluted	$	(0.13	)	$	(0.13	)	N/A	$	(0.38	)

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(1)	Class A common stock includes the issuance of 12.9 million shares of Class A common stock issued by us in connection with our IPO and shares issued upon the exercise of options subsequent to our IPO.


(2)	Class B common stock includes, for all periods presented, the conversion of all of our preferred stock into an aggregate of 53.6 million shares of our Class B common stock upon closing of the IPO.

Since we were in a loss position for the periods presented, basic net loss per share is the same as diluted net loss per share, as the inclusion of all potential common shares outstanding would have been anti-dilutive. The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the period presented because including them would have been antidilutive are as follows:



	Number of Shares
	As of March 31,
	2020	2019
	(in thousands)
Convertible preferred stock	—	53,630
Stock options	10,101	8,073
RSUs	2,702	—
Early exercised stock options	163	260
Common stock warrants	183	—
Convertible preferred stock warrants	—	519
Shares issuable pursuant to the ESPP	185	—
Performance-based Stock Units	88	—
Total	13,422	62,482