Net Loss Per Share

9 Months Ended

Sep. 30, 2021

15. Net loss per share

Basic and diluted net loss per common share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period, without consideration for common stock equivalents. The Company was in a loss position for all periods presented; therefore, basic net loss per share and diluted net loss per share are the same for all periods, as the inclusion of all potential common securities outstanding would have been anti-dilutive.

The following table summarizes the calculation of basic and diluted net loss per share of common stock:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
	(in thousands, except per share amounts)
Net loss	$	(83,263	)	$	(51,452	)	$	(245,197	)	$	(172,135	)
Weighted-average number of common shares - basic and diluted		181,827			13,680			160,515			12,249
Net loss per common share - basic and diluted	$	(0.46	)	$	(3.76	)	$	(1.53	)	$	(14.05	)

The following securities were excluded from the computation of net loss per diluted share of common stock for periods presented as their effect would have been anti-dilutive:

	Nine Months Ended September 30,
	2021		2020
	(in thousands)
Convertible preferred stock		-		134,113
Options issued and outstanding		17,284		9,677
Unvested restricted common stock		5,791		11,952
Unvested RSUs		150		326
Total		23,225		156,068