Prior to the Merger and prior to effecting the recapitalization, the net loss attributable to common stockholders was allocated based on the contractual participation rights of the 23andMe, Inc. Class A and 23andMe, Inc. Class B common stock. As the liquidation and dividend rights of 23andMe, Inc. Class A and 23andMe, Inc. Class B common stock are identical, the net loss attributable to common stockholders is allocated on a proportionate basis, and the resulting net loss per share is identical for 23andMe, Inc. Class A and 23andMe, Inc. Class B common stock under the two-class method. Earnings per share calculations for all periods prior to the Merger have been retrospectively restated to the equivalent number of shares reflecting the exchange ratio established in the reverse capitalization. Shares issued on early exercise, or issued but subject to vesting, are not included within weighted average shares outstanding for the period.

Subsequent to the Merger, the Company continues to have two classes of common stock: Class A and Class B common stock. Similar to the previous structure, the rights are identical, including liquidation and dividend rights, except the Company’s Class B common stock has additional voting rights and is convertible at any time at the option of the holder into Class A common stock, and is automatically converted into Class A common stock upon transfer (except for certain permitted transfers). The net loss attributable to common stockholders is allocated on a proportionate basis, and the resulting net loss per share is identical for Class A and Class B common stock under the two-class method.

No dividends were declared or paid for the fiscal years ended March 31, 2022 and 2021.

The Company’s redeemable convertible preferred stock, stock options, early exercised stock options, restricted stock units, and restricted stock awards subject to vesting are considered to be potential common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is antidilutive.

Net loss attributable to common stockholders is equivalent to net loss for all periods presented.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented:


	Year Ended March 31,
	2022						2021						2020
	Class A			Class B			Class A			Class B			Class A			Class B
	(in thousands, except share and per share data)
Numerator:
Net loss attributable to common stockholders	$	(68,620	)	$	(148,870	)	$	(37,070	)	$	(146,549	)	$	(49,094	)	$	(201,769	)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted		114,064,921			247,463,198			20,121,419			79,539,367			17,261,145			70,940,192
Net loss per share attributable to common stockholders, basic and diluted	$	(0.60	)	$	(0.60	)	$	(1.84	)	$	(1.84	)	$	(2.84	)	$	(2.84	)

The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive are as follows:


	As of March 31,
	2022				2021				2020
	Class A		Class B		Class A		Class B		Class A		Class B
Conversion of redeemable convertible preferred stock		—		—		—		209,181,855		—		198,274,933
Outstanding stock options		73,609,565		—		18,116,302		49,261,103		—		68,392,497
Issuance of common stock upon early exercise of options (unvested)		—		—		—		—		—		8,739,945
Restricted stock units		10,676,378		—		—		—		—		—
Employee Stock Purchase Plan		2,239,756		—		—		—		—		—
Shares subject to vesting		3,512,839		—		—		—		—		—
Total		90,038,538		—		18,116,302		258,442,958		—		275,407,375