Net Loss Per Share

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Net Loss Per Share

10. Net Loss Per Share

The following table shows the calculation of basic and diluted net loss per share for the nine months ended September 30, 2024 and 2023:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Basic net loss per share:
Numerator:
Net loss (in thousands)	$	(93,551	)	$	(201,630	)	$	(304,888	)	$	(508,783	)
Denominator:
Weighted average common stock outstanding    - basic and diluted		61,116,524			59,912,378			60,598,909			59,786,254
Net loss per share - basic and diluted	$	(1.53	)	$	(3.37	)	$	(5.03	)	$	(8.51	)

The following table summarizes potential dilutive securities outstanding at the end of each reporting period that were excluded from the calculation of diluted net loss per share because including them would have been anti-dilutive as of nine months ended September 30, 2024 and 2023:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Stock options		5,858,322		7,676,962		5,858,322		7,676,962
Restricted stock units		2,263,534		1,721,304		2,263,534		1,721,304
Employee stock purchase plan		74,059		25,649		74,059		25,649
		8,195,915		9,423,915		8,195,915		9,423,915

Stock options and restricted stock units that are outstanding and contain performance-based vesting criteria for which the performance conditions have not been met are excluded from the calculation of potential dilutive securities above.