Net Loss Per Share Attributable to Common Stockholders

3 Months Ended

Jun. 30, 2023

Net Loss Per Share Attributable to Common Stockholders

14. Net Loss Per Share Attributable to Common Stockholders

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 three months ended June 30, 2023 and 2022.

The Company’s stock options, RSUs, restricted stock awards subject to vesting and estimated shares to be issued under the ESPP plan 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 anti-dilutive.

Net loss attributable to common stockholders was 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:


	Three Months Ended June 30,
	2023						2022
	Class A			Class B			Class A			Class B
	(in thousands, except share and per share data)
Numerator:
Net loss attributable to common stockholders	$	(66,563	)	$	(38,061	)	$	(48,584	)	$	(40,948	)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted		294,089,562			168,164,880			242,292,436			204,212,893
Net loss per share attributable to common stockholders:
Net loss per share attributable to common stockholders, basic and diluted	$	(0.23	)	$	(0.23	)	$	(0.20	)	$	(0.20	)

The potential shares of Class A 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 were as follows:


	Three Months Ended June 30,
	2023		2022
Outstanding stock options		68,386,690		71,980,548
Restricted stock units		42,629,558		23,076,570
Shares subject to vesting		334,794		3,278,650
ESPP		2,776,927		3,456,238
Total		114,127,969		101,792,006

There were no potential shares of Class B common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented.