Net Loss Per Share

12 Months Ended

Dec. 31, 2023

Note 13. Net Loss Per Share

The Company presents both basic earnings per share (“EPS”) and diluted EPS. Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding for the period. Diluted net loss per share is computed by giving effect to all common share equivalents to the extent they are dilutive. Basic and diluted net loss per share was the same for each period presented as the inclusion of all common share equivalents would have been anti-dilutive.

The following table presents the calculations for the years ended December 31, 2023, 2022 and 2021 of basic and diluted net loss per share for the Company’s common stock (in thousands, except per share amounts):

	2023			2022			2021
Numerator
Net loss	$	(95,960	)	$	(132,442	)	$	(94,989	)
Numerator for basic and diluted EPS - loss attributable to common stockholders	$	(95,960	)	$	(132,442	)	$	(94,989	)
Denominator
Common stock		141,300			139,255			79,579
Denominator for basic and diluted EPS - weighted-average common stock		141,300			139,255			79,579
Basic and diluted net loss per share	$	(0.68	)	$	(0.95	)	$	(1.19	)

The basic net loss per share calculation excludes preferred stock as it did not participate in net losses of the Company. Additionally, net loss per share attributable to Class A and Class B common stockholders was the same on a basic and diluted basis, as the inclusion of all potential common equivalent shares outstanding would have been anti-dilutive.

The following potential dilutive shares were excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive for the years ended December 31, 2023, 2022 and 2021:

	2023		2022		2021
Outstanding options to purchase common stock		22,511,900		19,427,755		7,726,972
Outstanding restricted stock units		847,169		2,018,449		4,586,972
Outstanding warrants		3,968,319		3,968,319		3,968,319
		27,327,388		25,414,523		16,282,263