Net Loss per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Net Loss per Share

Net Loss per Share

Basic and diluted net loss per share attributable to common stockholders was calculated as follows:

	Year Ended December 31,
	2024		2023		2022
Numerator:
Net loss attributable to common stockholders (in millions)	$	(202.2)	$	(236.9)	$	(297.8)
Denominator:
Weighted average common shares outstanding — basic and diluted	71,023,115		69,658,912		64,921,524
Net loss per share attributable to common stockholders — basic and diluted	$	(2.85)	$	(3.40)	$	(4.59)

The Company's potentially dilutive securities, which include stock options, unvested RSUs and warrants for common stock, have been excluded from the computation of diluted net loss per share as the effect would be to anti-dilutive. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect.

	December 31,
	2024	2023	2022
Options to purchase common stock	9,376,193	9,595,257	9,760,657
Unvested restricted stock	4,278,383	3,568,735	1,651,243
Warrants for common stock (1)	412,969	412,969	412,969
	14,067,545	13,576,961	11,824,869

(1) Each outstanding warrant of Metromile assumed by the Company are converted automatically into warrants denominated in the Company’s common stock with the number of warrants and exercise price adjusted based on the exchange ratio of 0.05263