Earnings Per Share

3 Months Ended

Mar. 31, 2022

Basic and diluted net loss per share attributable to common stockholders is computed in conformity with the two-class method required for participating securities. The Company considers its convertible preferred stock, options exercised in exchange for nonrecourse promissory notes, early exercised unvested stock options and unvested restricted stock awards to be participating securities. Under the two-class method, the net loss attributable to common stockholders is not allocated to convertible preferred stock, options exercised in exchange for nonrecourse promissory notes, early exercised unvested common stock options and unvested restricted stock awards as the holders of these instruments do not have a contractual obligation to share in the Company’s losses. Net income is attributed to common stockholders and participating securities based on their participation rights. Basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share attributable to common stockholders adjusts basic earnings per share for the potentially dilutive impact of stock options.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data):


	Three Months Ended March 31,
	2022		2021
Basic and Diluted EPS
Numerator:
Net loss per attributable to common stockholders	$	(115,257)	$	(10,521)
Denominator:
Weighted average common shares used to compute net loss per share attributable to common stockholders, basic and diluted	371,967,881		222,408,568
Net loss per share attributable to common stockholders, basic and diluted	$	(0.31)	$	(0.05)

The following table presents the forms of antidilutive potential common shares:


	As of March 31,
	2022	2021
Convertible preferred stock	—	109,090,908
Stock options exercised for promissory notes	2,434,999	3,874,999
Early exercised stock options	635,873	458,499
Unvested RSAs	121,158	782,895
Stock options	14,409,668	19,581,567
Unvested RSUs	7,628,274	—
ESPP	239,378	—
Total antidilutive potential common shares	25,469,350	133,788,868

The table above does not include the convertible security issued in 2020. The sellers converted the convertible security in 2021.