Net Loss Per Share Attributable To Common Stockholders

9 Months Ended

Mar. 31, 2023

Net Loss Per Share Attributable To Common Stockholders

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,
	2023		2022		2023		2022
Numerator:
Net loss attributable to common stockholders	$	(31,138)	$	(86,720)	$	(207,854)	$	(241,419)
Denominator:
Weighted-average shares used to compute net loss per share attributable to common stockholders
Basic and diluted	106,597		103,830		105,843		100,856
Net loss per share attributable to common stockholders:
Basic and diluted	$	(0.29)	$	(0.84)	$	(1.96)	$	(2.39)

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,
	2023	2022
Stock options	2,930	4,232
Restricted stock units	4,425	3,159
Total	7,355	7,391

In addition, approximately 8.5 million shares underlying the conversion option of the Notes are not considered in the calculation of diluted net loss per share as they would be anti-dilutive. Such number of shares issuable under the Notes is subject to adjustment up to approximately 12.7 million shares if certain corporate events occur prior to the maturity date of the Notes or if the Company issues a notice of redemption. The Company’s current intent is to settle conversions of the 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 "as-if converted" method for calculating any potential dilutive effect of the conversion option on diluted earnings per share, if applicable. As of March 31, 2023, the Conversion Condition was not triggered for either the 2025 Notes or the 2027 Notes.