Net Loss Per Share

9 Months Ended

Sep. 30, 2021

Basic net loss per share attributable to common stockholders is computed by dividing the net loss by the number of weighted-average outstanding common shares. Diluted net loss per share attributable to common stockholders is determined by giving effect to all potential common equivalents during the reporting period, unless including them yields an antidilutive result. The Company considers its redeemable convertible preferred stock, stock options and restricted stock units as potential common equivalents, but excluded them from the computation of diluted net loss per share attributable to common stockholders in the periods presented, as their effect was antidilutive.

The rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting, conversion, and transfer rights. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted net loss per share attributable to common stockholders, are the same for both Class A and Class B common stock on both an individual and combined basis.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator:
Net (loss) income	$	(107,415)	$	1,387	$	(117,259)	$	(55,759)
Accretion of redeemable convertible preferred stock	(2,264,838)		(269,358)		(2,646,662)		(371,522)


Net loss attributable to Class A and Class B common stockholders - basic and diluted	$	(2,372,253)	$	(267,971)	$	(2,763,921)	$	(427,281)





Denominator:
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders - basic and diluted	95,930		76,880		83,860		76,846





Net loss per share attributable to Class A and Class B common stockholders - basic and diluted	$	(24.72)	$	(3.49)	$	(32.96)	$	(5.56)

The following table summarizes the potential common equivalents that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented (in thousands):


	September 30,
	2021	2020
Redeemable convertible preferred stock	—	153,938
Stock options	1,682	2,504
RSUs	58,636	31,578
Total	60,318	188,020