Net Loss per Share

3 Months Ended

Mar. 31, 2020

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 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 March 31,
(In thousands)	2020		2019
Numerator:
Net loss	$	(83,053)	$	(72,580)
Denominator:
Weighted-average common shares outstanding		60,076		55,818
Less: weighted-average common shares subject to forfeiture		(613)		(880)
Weighted-average common shares used to compute basic and diluted net loss per share		59,463		54,938
Basic and diluted net loss per share	$	(1.40)	$	(1.32)

For the three months ended March 31, 2020 and 2019, 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 March 31,
(In thousands)	2020	2019
Share issuances under equity incentive plans and ESPP	6,035	5,481
Restricted shares	—	1
Share issuances upon the conversion of convertible senior notes	6,676	6,676
Total	12,711	12,158

As of March 31, 2019, there were 468,000 shares subject to performance-based vesting criteria which have been excluded from the ordinary equivalent shares table above, and there were no such shares excluded as of March 31, 2020.