Net Loss Per Share Attributable To Common Stockholders

9 Months Ended

Mar. 31, 2021

Net Loss Per Share Attributable To Common Stockholders

NOTE 13 – NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS

The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share amounts):

	Three months ended March 31,						Nine months ended March 31,
	2021			2020			2021			2020
Numerator:
Net loss attributable to common stockholders	$	(26,728	)	$	(8,319	)	$	(56,858	)	$	(21,593	)
Denominator:
Weighted-average shares used to compute net loss per share attributable to common stockholders
Basic and diluted		82,627			72,379			81,446			34,167
Net loss per share attributable to common stockholders:
Basic and diluted	$	(0.32	)	$	(0.11	)	$	(0.70	)	$	(0.63	)

For periods the Company is in a loss position, basic net loss per share attributable to common shareholders is the same as diluted net loss per share attributable to common shareholders. Potentially dilutive securities, which were excluded from the diluted net loss per share calculations because they would have been antidilutive were as follows as of the dates presented (in thousands):

	March 31,
	2021		2020
Stock options		5,905		11,706
Restricted stock units		1,167		192
Warrants to purchase common stock		—		62
Total		7,072		11,960

In addition, approximately 7.1 million shares underlying the conversion option in the 2025 Notes are not considered in the calculation of diluted net loss per share. Such number of shares issuable under the 2025 Notes is subject to adjustment up to approximately 10.5 million shares if certain corporate events occur prior to the maturity date or if the Company issues a notice of redemption. The Company’s current intent is to settle conversions of the 2025 Notes through a combination settlement, which involves a repayment of the principal portion in cash with any excess of the conversion value over the principal amount settled in shares of common stock. The Company uses the treasury stock method for calculating any potential dilutive effect of the conversion option on diluted earnings per share, if applicable. During the three and nine months ended March 31, 2021, the average market price of the Company’s common stock did not exceed the conversion price of the 2025 Notes of $160.88 per share.