Net Loss per Share

3 Months Ended

Mar. 31, 2022

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, except per share data)	2022		2021
Numerator:
Net loss	$	(25,946)	$	(79,679)
Denominator:
Weighted-average ordinary shares outstanding		75,247		64,723
Less: weighted-average ordinary shares subject to forfeiture		—		(230)
Weighted-average ordinary shares used to compute basic and diluted net loss per share		75,247		64,493
Basic and diluted net loss per share	$	(0.34)	$	(1.24)

For the three months ended March 31, 2022 and 2021, 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
	March 31,
(In thousands)	2022	2021
Share issuances under equity incentive plans and ESPP	6,831	8,483
Share issuances upon the conversion of convertible senior notes	6,676	6,676
Total	13,507	15,159