Basic and Diluted Net Loss per Share

9 Months Ended

Sep. 30, 2022

The Company uses the two-class method to calculate net loss per share. No dividends were declared or paid for the three and nine months ended September 30, 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 and nine months ended September 30 (in thousands, except share and per share amounts):


	Three Months Ended September 30,								Nine Months Ended September 30,
	2022				2021				2022				2021
	Class A		Class V		Class A		Class V		Class A		Class V		Class A		Class V
Numerator:
Net loss attributable to common stockholders	$	(18,071)	$	(769)	$	(15,273)	$	(668)	$	(52,521)	$	(2,250)	$	(73,219)	$	(3,279)
Denominator:
Weighted average shares outstanding, basic and diluted	196,855,344		8,377,623		191,661,138		8,377,623		195,591,160		8,377,623		174,072,957		7,794,565
Basic and diluted net loss per share	$	(0.09)	$	(0.09)	$	(0.08)	$	(0.08)	$	(0.27)	$	(0.27)	$	(0.42)	$	(0.42)

Basic net loss per share is the same as diluted net loss per share attributable to common stockholders for the three and nine months ended September 30, 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 September 30,		Nine Months Ended September 30,
	2022	2021	2022	2021
Stock options	21,241,627	16,608,921	20,176,424	16,494,336
RSUs	9,902,439	4,447,842	7,952,027	3,972,999
Common stock issued subject to vesting	1,886,735	2,754,756	2,150,443	961,130
Common stock issuable under the ESPP	899,701	—	443,495	—
Warrants to purchase Class A common stock	561,058	2,773,408	561,058	6,199,099
Common stock issued for early exercise of stock options	57,400	130,925	80,151	235,766
Redeemable convertible preferred stock	—	—	—	6,495,364
Common stock issued for exercise of stock options subject to nonrecourse promissory notes	—	—	—	1,168,952