Basic and Diluted Net Loss per Share

3 Months Ended

Mar. 31, 2022

The Company uses the two-class method to calculate net loss per share. No dividends were declared or paid for the three months ended March 31, 2022 and 2021. Undistributed earnings for each period are allocated equally to participating securities based on the contractual participation rights of the security to share in the current earnings as if all current period earnings had been distributed. The Company’s basic net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average shares of common stock outstanding during periods with undistributed losses.

The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders for the three months ended March 31 (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2022				2021
	Class A		Class V		Class A		Class V
Numerator:
Net loss attributable to common stockholders	$	(15,580)	$	(672)	$	(49,185)	$	(2,219)
Denominator:
Weighted average shares outstanding, basic and diluted	194,318,347		8,377,623		146,471,524		6,609,014
Basic and diluted net loss per share	$	(0.08)	$	(0.08)	$	(0.34)	$	(0.34)

Basic net loss per share is the same as diluted net loss per share attributable to common stockholders for the three months ended March 31, 2022 and 2021, because the inclusion of potential shares of common stock would have been anti-dilutive for the periods presented.

The following table discloses weighted-average securities that were not included in the computation of diluted net loss per share as their inclusion would have been anti-dilutive:


	Three Months Ended March 31,
	2022	2021
Stock options	17,685,246	16,361,955
RSUs	5,366,963	3,347,300
Common stock issued subject to vesting	2,395,670	—
Warrants to purchase Class A common stock	561,058	7,733,346
Common stock issuable under the ESPP	444,828	—
Common stock issued for early exercise of stock options	103,521	388,839
Redeemable convertible preferred stock	—	19,702,603
Common stock issued for exercise of stock options subject to nonrecourse promissory notes	—	3,545,821