12.Net Loss per Share

Basic and diluted net loss per share is presented using the two class method required for participating securities. Class A and Class B common stock have been the only outstanding equity in the Company since the IPO in October 2014. The rights of the holders of Class A and Class B common stock are identical, except with respect to voting and conversion as described in Note 10, Stockholder’s Equity.

Basic net loss per share attributable to common stockholders is computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share attributable to common stockholders is computed using the weighted-average number of shares of common stock and, if dilutive, common stock equivalents outstanding during the period. The Company’s common stock equivalents consist of shares issuable upon the release of RSUs, and to a lesser extent, the incremental shares of common stock issuable upon the exercise of stock options and unvested restricted stock. The dilutive effect of these common stock equivalents is reflected in diluted earnings per share by application of the treasury stock method. The Company’s basic and diluted net loss per share are the same because the Company has generated net loss to common stockholders and common stock equivalents are excluded from diluted net loss per share because they have an antidilutive impact.

The Company allocates undistributed earnings between the classes on a one-to-one basis when computing net loss per share. As a result, basic and diluted net loss per share of Class A and Class B common stock are equivalent.

Prior to the conversion of the Series A and Series B convertible preferred stock to Class B common stock, effective October 7, 2014, the Company applied the two class method for calculating and presenting earnings per share. Under the two class method, net loss attributable to common stockholders is determined by allocating undistributed earnings between common stock and participating securities. Undistributed earnings are calculated as net loss less distributed earnings and accretion of Series A and Series B convertible preferred stock. As holders of Series A and Series B convertible preferred stock did not have a contractual obligation to share in the losses of the Company, the net loss attributable to common stockholders for each periods prior to the IPO was not allocated between common stock and participating securities. Accordingly, Series A and Series B convertible preferred stock are excluded from the calculation of basic and diluted net loss per share. The Company’s basic and diluted net loss per share are the same because the Company has generated net loss to common stockholders and common stock equivalents are excluded from diluted net loss per share because they have an antidilutive impact.

The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data):

	Three months ended June 30,						Six months ended June 30,
	2015			2014			2015			2014
Net loss	$	(19,334	)	$	(23,375	)	$	(46,470	)	$	(51,401	)
Accretion of convertible redeemable preferred units	—			(4,605		)	—			(11,755		)

Net loss attributable to common stockholders	$	(19,334	)	$	(27,980	)	$	(46,470	)	$	(63,156	)

Weighted average common shares used for basic and diluted net loss per share computation	83,603			40,515			83,407			40,829


Net loss unit attributable to common stockholders per share:
Basic and Diluted	$	(0.23	)	$	(0.69	)	$	(0.56	)	$	(1.55	)

The following have been excluded from the computation of basic and diluted net loss per share attributable to common stockholders as their effect would have been antidilutive:

	Three and six months ended June 30,
	2015	2014
Series A convertible redeemable preferred units	—	21,551,801
Series B convertible redeemable preferred units	—	5,995,133
Stock options	337,148	646,413
Restricted stock	12,563	3,271,516
Restricted stock units	4,841,186	6,085,085

Total	5,190,897	37,549,948