Net Loss per Share

9 Months Ended

Sep. 30, 2021

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				Nine Months Ended
	September 30,				September 30,
(In thousands, except per share data)	2021		2020		2021		2020
Numerator:
Net loss	$	(35,308)	$	(73,643)	$	(167,392)	$	(219,583)
Denominator:
Weighted-average ordinary shares outstanding		73,574		63,717		68,021		62,361
Less: weighted-average ordinary shares subject to forfeiture		—		(414)		(76)		(480)
Weighted-average ordinary shares used to compute basic and diluted net loss per share		73,574		63,303		67,945		61,881
Basic and diluted net loss per share	$	(0.48)	$	(1.16)	$	(2.46)	$	(3.55)

For the three and nine months ended September 30, 2021 and 2020, diluted and basic net loss per share were 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)	2021	2020	2021	2020
Share issuances under equity incentive plans and ESPP	8,900	8,063	8,307	6,566
Share issuances upon the conversion of convertible senior notes	6,676	6,676	6,676	6,676
Total	15,576	14,739	14,983	13,242