Net Loss per Share

9 Months Ended

Sep. 30, 2019

Net Loss per Share

Net Loss per Share

2. Net Loss per Share

Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of outstanding, less ordinary shares subject to forfeiture. Diluted net loss per share is computed by dividing net loss by the weighted-average number of shares outstanding, less ordinary shares subject to forfeiture, plus all additional ordinary shares that would have been outstanding, assuming dilutive potential ordinary shares had been issued for other dilutive securities.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In thousands)	2019		2018		2019		2018
Numerator:
Net loss	$	(58,431)	$	(59,433)	$	(170,849)	$	(165,338)
Denominator:
Weighted-average common shares outstanding		56,690		55,230		56,308		54,920
Less: weighted-average common shares subject to forfeiture		(832)		(982)		(863)		(1,149)
Weighted-average common shares used to compute basic and diluted net loss per share		55,858		54,248		55,445		53,771
Basic and diluted net loss per share	$	(1.05)	$	(1.10)	$	(3.08)	$	(3.07)

For the three and nine months ended September 30, 2019 and 2018, diluted and basic net loss per share was identical since potential ordinary shares were excluded from the calculation, as their effect was anti-dilutive.

Anti-dilutive Securities

The following ordinary equivalent shares were not included in the computation of diluted net loss per share because their effect was anti-dilutive:

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
(In thousands)	2019	2018	2019	2018
Share issuances under equity incentive plans and ESPP	7,340	3,783	6,491	4,741
Restricted shares	—	4	—	4
Share issuances upon the conversion of convertible senior notes	6,676	6,676	6,676	6,676
Total	14,016	10,463	13,167	11,421

As of September 30, 2019 and 2018, there were 414,000 and 978,750 shares, respectively, subject to performance-based vesting criteria which have been excluded from the anti-dilutive securities table above.