LOSS PER SHARE

12 Months Ended

Dec. 31, 2022

In August 2022, an authorized subcommittee of our board of directors approved a reverse stock split of our Class A and Class B common stock at a ratio of 1-for-18, which became effective on August 12, 2022. Accordingly, all stock, equity award, warrant, and per share amounts have been adjusted to reflect the reverse stock split for all prior periods presented.

The following table displays the computation of basic and diluted loss per share for both Class A and Class B common stock for the years ended December 31, 2022, 2021 and 2020:


	For the Years Ended December 31,
	2022		2021		2020
	(in millions, except per share amounts)
Net loss	$	(297.7)	$	(521.1)	$	(363.0)
Weighted-average common shares outstanding: basic and diluted (both Class A and B)	14.1		13.8		4.2
Loss per common share: basic and diluted (both Class A and B)	$	(21.11)	$	(37.76)	$	(86.43)

We excluded the following potentially dilutive common stock equivalents, presented based on amounts outstanding at each year end, from the computation of diluted EPS attributable to common stockholders for the years indicated because including them would have had an anti-dilutive effect:


	As of December 31,
	2022	2021	2020
	(in millions)
Options to purchase common stock	0.2	0.4	0.6
Nonvested shares subject to repurchase	0.1	0.1	0.3
Restricted stock units	1.1	0.5	—
Redeemable convertible preferred stock (as converted to common stock)	0.8	0.8	—
Warrants to purchase common stock	7.7	7.2	—

Total	9.9	9.0	0.9