17. Loss Per Share

Loss per share is computed using weighted average common shares and dilutive common equivalent shares outstanding. Potentially dilutive securities consist of outstanding stock options, unvested RSUs, unvested PSUs, warrants, convertible Series A Preferred Stock and shares issuable upon the assumed conversion of the 2024 Convertible Notes, the Modified Convertible Notes and the SWIMS Convertible Note , as applicable. A reconciliation of the numerator and denominator of basic and diluted loss per share is as follows (in thousands, except per share data).


	December 31
	2018		2017
Basic loss per share computation
Numerator:
Loss from continuing operations	$	(123,766)	$	(2,458)
Less: preferred dividends		(6,144)		(5,480)
Loss from continuing operations attributable to common stockholders		(129,910)		(7,938)
Denominator:
Weighted average common shares outstanding		21,569		13,313

Loss per common share - basic
Loss from continuing operations	$	(6.02)	$	(0.60)
Loss per common share - basic	$	(6.02)	$	(0.60)

Diluted loss per share computation
Numerator:
Loss from continuing operations	$	(123,766)	$	(2,458)
Less: preferred dividends		(6,144)		(5,480)
Loss from continuing operations attributable to common stockholders		(129,910)		(7,938)
Denominator:
Weighted average common shares outstanding		21,569		13,313
Effect of dilutive securities:
Options, RSUs, PSUs, warrants, Series A, convertible notes		—		—
Dilutive common shares		21,569		13,313

Loss per common share - diluted
Loss from continuing operations	$	(6.02)	$	(0.60)
Loss per common share - diluted	$	(6.02)	$	(0.60)

The following potential shares of common stock were excluded from diluted EPS as the Company had a net loss as of the years ended (in thousands):


	December 31, 2018		December 31, 2017
Outstanding stock options		321		71
Unvested RSUs		5,821		746
Unvested PSUs		1,406		458
Outstanding warrants		650		650
Convertible Series A preferred stock		—		4,480
Convertible Series A-1 preferred stock		—		—
Modified Convertible Notes		1,278		1,247
SWIMS Convertible Note		—		4,565
2024 Convertible Notes		3,125		—

Loss per Share under Two−Class Method

The Series A Preferred Stock had the non-forfeitable right to participate on an as converted basis at the conversion rate then in effect in any common stock dividends declared and as such, was considered a participating security. The Series A Preferred Stock was included in the computation of basic and diluted loss per share for the year ended December 31, 2017 pursuant to the two-class method. Holders of the Series A Preferred Stock did not participate in undistributed net losses because they were not contractually obligated to do so.

The computation of diluted loss per share attributable to common stockholders reflects the potential dilution that could occur if securities or other contracts to issue shares of common stock that are dilutive were exercised or converted into shares of common stock (or resulted in the issuance of shares of common stock) and would then share in the Company’s earnings. During the periods in which the Company record a loss from continuing operations attributable to common stockholders, securities would not be dilutive to net loss per share and conversion into shares of common stock is assumed not to occur.

The following table provides a reconciliation of net loss to preferred shareholders and common stockholders for purposes of computing net loss per share for the years ended December 31, 2018 and 2017 (in thousands, except per share data):


	December 31,
	2018		2017
Net loss	$	(123,766)	$	(2,458)
Less: preferred dividends		(6,144)		(5,480)
Net loss attributable to common stockholders	$	(129,910)	$	(7,938)

Denominator:
Weighted average common shares outstanding		21,569		13,313

Loss per common share - basic and diluted under two-class method	$	(6.02)	$	(0.60)