Net Loss Per Share Available to Common Stockholders

12 Months Ended

Dec. 31, 2019

Net Loss Per Share Available to Common Stockholders

The Company calculates basic and diluted net loss per share available to common stockholders in conformity with the two-class method required for companies with participating securities. See Note 2.

Computation of EPS for the year ended December 31, 2019 excludes the dilutive effect of 5,170,976 shares issuable under stock options and 149,004 RSUs, because the Company incurred a net loss and their inclusion would be anti-dilutive. Computation of EPS for the year ended December 31, 2019 also

excludes adjustments under the two-class method relating to a liability classified, share-settled obligation to an executive officer to deliver a variable number of shares based on a fixed monetary amount because the shares to be delivered are not participating securities as they do not have voting rights and are not entitled to participate in dividends until they are issued. Computation of EPS for the years ended December 31, 2018 and 2017 excludes the dilutive effect of 5,120,293 and 4,207,029 shares, respectively, issuable under stock options because the Company incurred net losses and their inclusion would have been antidilutive.



(in thousands, except share and per share amounts)	Year Ended December 31,
(in thousands, except share and per share amounts)	2019			2018			2017
Numerator:
Net loss available to common stockholders	$	(12,443	)	$	(29,886	)	$	(30,384	)
Denominator:
Weighted average common shares outstanding—basic	42,274,777			6,287,172			5,457,629
Dilutive effect of stock equivalents resulting from stock options, RSUs, common stock warrants, preferred stock warrants and convertible preferred stock (as converted)	—			—			—
Weighted average common shares outstanding—diluted	42,274,777			6,287,172			5,457,629
Net loss per share available to common stockholders—basic and diluted	$	(0.29	)	$	(4.75	)	$	(5.57	)

The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share available to common stockholders for the periods presented because the impact of including them would have been antidilutive:



	Year Ended December 31,
	2019	2018	2017
Options to purchase common stock	5,170,976	—	—
Restricted stock units	149,004	—	—
Convertible preferred stock (as converted)	—	39,953,983	39,361,211
Preferred stock warrants	—	160,767	160,767
Total	5,319,980	40,114,750	39,521,978