Net Loss per Share

9 Months Ended

Sep. 30, 2016

11. Net Loss per Share

Basic and diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common shares outstanding for the period, excluding shares subject to repurchase and without consideration of potentially dilutive securities. The Company's potential dilutive shares, which include outstanding common stock options, unvested common shares subject to repurchase, convertible preferred stock and warrants, have not been included in the computation of diluted net loss per share for all periods as the result would be anti-dilutive. Such potentially dilutive shares are excluded when the effect would be to reduce the net loss per share.

The following table provides the basic and diluted net loss per share computations for the three and nine months ended September 30, 2016 and 2015.


	Three months ended				Nine months ended
	September 30,				September 30,
(in thousands, except per share data)	2016		2015		2016		2015

Basic and diluted loss per share:
Net loss	$	(26,017)	$	(17,630)	$	(57,858)	$	(47,315)

Weighted-average common shares outstanding		52,012		46,380		51,422		20,252
Less: weighted-average unvested common shares subject to repurchase		—		(1,436)		(121)		(1,531)
Weighted-average number of shares used in computing net loss per share, basic and diluted		52,012		44,944		51,301		18,721

Basic and diluted net loss per share	$	(0.50)	$	(0.39)	$	(1.13)	$	(2.53)

Potentially dilutive shares that were not included in the diluted per share calculations because they would be anti‑dilutive as of September 30, 2016 and 2015 were as follows:


	September 30,
	2016	2015
	(in thousands)
Options to purchase common stock	9,146	9,399
Warrants to purchase common stock	377	410
Restricted stock units	174	—
Employee stock purchase plan	145	—
Common stock subject to repurchase	—	1,403
	9,842	11,212