Net Loss Per Share Attributable to Common Stockholders

12 Months Ended

Dec. 31, 2023

Net Loss Per Share Attributable to Common Stockholders

NOTE 20—Net Loss Per Share Attributable to Common Stockholders

Basic net loss per share is computed using the two-class method, by dividing the net loss by the weighted-average number of shares of common stock of the Company outstanding during the period. Diluted net loss per share is computed by giving effect to all potential shares of common stock of the Company, outstanding stock options, warrants, to the extent dilutive. However, the unvested restricted stock, restricted stock units and performance stock units as of December 31, 2023 and 2022 of 54,454,004 and 63,586,775, respectively, are not considered as participating securities and are anti-dilutive and as such are excluded from the weighted average number of shares used for calculating basic and diluted net loss per share. Basic and diluted net loss per share was the same for each period presented as the inclusion of all potential shares of common stock of the Company outstanding would have been anti-dilutive.

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


	Year ended December 31,
	2023			2022			2021
Numerator:
Net loss	$	(187,481	)	$	(279,239	)	$	(249,563	)
Cumulative redeemable convertible preferred stock dividends		—			—			7,060
Numerator for Basic and Dilutive loss per share – loss available to common stockholders	$	(187,481	)	$	(279,239	)	$	(256,623	)
Denominator:
Class A common stock		140,593,656			122,455,432			61,972,951
Class B common stock		16,103,652			16,529,833			10,143,209
Series A common stock		—			—			11,904,161
Series B common stock		—			—			1,372,351
Warrants		—			—			1,539,519
Denominator for Basic and Dilutive loss per share – weighted-average common stock		156,697,308			138,985,265			86,932,191
Basic loss per share	$	(1.20	)	$	(2.01	)	$	(2.95	)
Dilutive loss per share	$	(1.20	)	$	(2.01	)	$	(2.95	)

Since the Company was in a net loss position for all periods presented, the inclusion of all potential common equivalent shares outstanding would have been anti-dilutive. Therefore net loss per share attributable to common stockholders was the same on a basic and diluted basis.

Anti-dilutive weighted-average common equivalent shares were as follows:


	Year ended December 31,
	2023		2022		2021
Options		2,065,316		1,096,894		940,653
Restricted stock and restricted stock units		56,915,993		66,224,013		70,650,049
Performance stock units		4,370,543		3,186,642		558,904