Net Loss Per Share

12 Months Ended

Dec. 31, 2024

11. Net Loss Per Share

The following table shows the calculation of basic and diluted net loss per share for the years ended December 31, 2024, 2023, and 2022:


	Year Ended December 31,
	2024			2023			2022
Basic net loss per share:
Numerator:
Net loss (in thousands)	$	(400,666	)	$	(541,489	)	$	(532,784	)
Denominator:
Weighted average common stock outstanding - basic and diluted		60,765,913			59,836,441			59,306,094
Net loss per share - basic and diluted	$	(6.59	)	$	(9.05	)	$	(8.98	)

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 December 31, 2024, 2023, and 2022:


	Year Ended December 31,
	2024		2023		2022
Stock options		5,302,824		7,663,041		7,138,350
Restricted stock units		1,788,137		1,662,363		160,403
Employee stock purchase plan		52,436		61,402		76,105
		7,143,397		9,386,806		7,374,858

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.