Net Loss Per Share

6 Months Ended

Jun. 30, 2022

Note 13. Net Loss Per Share

Basic and diluted net income (loss) per share is computed using the two-class method when the Company has issued shares that meet the definition of participating securities. Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period without consideration for common stock equivalents. Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period and potentially dilutive common stock equivalents, except in cases where the effect of the common stock equivalent would be anti-dilutive. Potential common stock equivalents consist of the Company's common stock issuable upon exercise of stock options, employee stock purchase rights, and convertible preferred stock. For periods of net loss, basic and diluted earnings per share are the same as the effect of the assumed exercise of stock options and convertible preferred stock is anti-dilutive.

The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share data):


	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2022			2021			2022			2021
Net loss	$	(6,203	)	$	(2,250	)	$	(11,700	)	$	(2,905	)
Weighted average shares used in computing net loss per share—basic and diluted		28,057,801			4,328,222			28,044,460			3,965,741
Net loss per share—basic and diluted	$	(0.22	)	$	(0.52	)	$	(0.42	)	$	(0.73	)

The following is a summary of the Company's common stock equivalents for the securities outstanding during the respective periods that have been excluded from the computation of diluted net loss per common share, as their effect would be anti-dilutive:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
Employee share-based awards to purchase common stock		3,818,283		2,446,307		3,620,794		2,349,100
Convertible Series A preferred stock		—		9,136,771		—		9,238,864
Total		3,818,283		11,583,078		3,620,794		11,587,964