NET LOSS PER SHARE

9 Months Ended

Sep. 30, 2021

NOTE 14: NET LOSS PER SHARE

We present net loss per share using the two-class method required for multiple classes of common stock. The rights, including the liquidation and dividend rights, of the holders of Class A common stock and Class B common stock are identical, except with respect to voting. As the liquidation and dividend rights are identical for Class A common stock and Class B common stock, the undistributed earnings are

allocated on a proportionate basis and the resulting loss per share will, therefore, be the same for both Class A common stock and Class B common stock on an individual or combined basis.

The following table presents the calculation of basic and diluted loss per share:


(in thousands, except per share data)	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2021		2020		2021
Net loss	$	(10,661)	$	(1,316,697)	$	(5,579)	$	(3,263,165)
Less: allocation of earnings to participating securities	—		—		—		—
Net loss attributable to common stockholders	$	(10,661)	$	(1,316,697)	$	(5,579)	$	(3,263,165)

Weighted-average common stock outstanding - basic	225,997,444		638,168,188		225,299,165		368,518,894
Dilutive effect of stock options and unvested shares	—		—		—		—
Weighted-average common stock outstanding - diluted	225,997,444		638,168,188		225,299,165		368,518,894

Net loss per share attributable to common stockholders:
Basic	$	(0.05)	$	(2.06)	$	(0.02)	$	(8.85)
Diluted	$	(0.05)	$	(2.06)	$	(0.02)	$	(8.85)

The following potential common shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2021	2020	2021
Redeemable convertible preferred stock	412,742,897	—	412,742,897	—
RSUs	65,598,613	112,492,359	65,598,613	112,492,359
Stock options	24,836,871	15,447,206	24,836,871	15,447,206
Unvested shares	306,966	65,435	306,966	65,435
Warrants	—	14,278,034	—	14,278,034
ESPP shares	—	93,738	—	93,738
Total anti-dilutive securities	503,485,347	142,376,772	503,485,347	142,376,772