NET LOSS PER SHARE

9 Months Ended

Sep. 30, 2022

NET LOSS PER SHARE

NET LOSS PER SHARE

NOTE 6  NET LOSS PER SHARE

Basic net loss per common share is calculated by dividing the net loss by the weighted-average number of common shares outstanding during the period, without consideration of potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common shares and potentially dilutive securities outstanding for the period. For purposes of the diluted net loss per share calculation, the convertible preferred stock and common stock options are considered to be potentially dilutive securities. Basic and diluted net loss per share is presented in conformity with the two-class method required for participating securities as the convertible preferred stock is considered a participating security. The Company’s participating securities do not have a contractual obligation to share in the Company’s losses. As such, the net loss was attributed entirely to common stockholders. As the Company has reported a net loss for all periods presented, diluted net loss per common share is the same as basic net loss per common share for those periods.

The following table sets forth the computation of the basic and diluted net loss per share (in thousands, except share and per share amounts):

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Numerator
Net loss	$	(17,498)	$	(12,949)	$	(48,225)	$	(30,117)
Denominator
Weighted-average shares outstanding used in computing net loss per share, basic and diluted		51,844,904		49,264,938		50,345,841		33,535,829
Net loss per share, basic and diluted	$	(0.34)	$	(0.26)	$	(0.96)	$	(0.90)

The following weighted average outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive:

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Options to purchase common stock		10,552,535		8,517,684		9,548,973		7,844,677
Unvested restricted stock units		268,031		—		149,233		—
Convertible preferred stock		—		—		—		11,592,033
Total		10,820,566		8,517,684		9,698,206		19,436,710