13. 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 and the Modified Convertible Notes, 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).


	Three months ended September 30,				Nine months ended September 30,
	2019		2018		2019		2018
Basic loss per share computation
Numerator:
Net loss	$	(8,979)	$	(10,581)	$	(170,094)	$	(20,350)
Less: preferred dividends		—		(1,892)		—		(5,548)
Net loss attributable to common stockholders	$	(8,979)	$	(12,473)	$	(170,094)	$	(25,898)
Denominator:
Weighted average common shares outstanding		58,736		14,085		58,638		13,873

Loss per common share - basic
Net loss per common share - basic	$	(0.15)	$	(0.89)	$	(2.90)	$	(1.87)

Diluted loss per share computation
Numerator:
Net loss	$	(8,979)	$	(10,581)	$	(170,094)	$	(20,350)
Less: preferred dividends		—		(1,892)		—		(5,548)
Net loss attributable to common stockholders	$	(8,979)	$	(12,473)	$	(170,094)	$	(25,898)
Denominator:
Weighted average common shares outstanding		58,736		14,085		58,638		13,873
Effect of dilutive securities:
Options, RSUs, PSUs, warrants, Series A, convertible notes		—		—		—		—
Dilutive common shares		58,736		14,085		58,638		13,873

Loss per common share - diluted
Net loss per common share - diluted	$	(0.15)	$	(0.89)	$	(2.90)	$	(1.87)

The following potentially dilutive shares of common stock were excluded from diluted EPS as the Company had a net loss for the periods ended:


	Three months ended September 30,				Nine months ended September 30,
	2019		2018		2019		2018
Outstanding stock options		321		71		321		71
Unvested RSUs		9,900		757		9,900		757
Unvested PSUs		2,944		453		2,944		453
Outstanding warrants		500		650		500		650
Convertible Series A Preferred Stock		—		4,480		—		4,480
Convertible Series A-1 Preferred Stock		—		4,588		—		4,588
Modified Convertible Notes		1,299		1,278		1,299		1,278
2024 Convertible Notes		3,125		—		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 three and nine months ended September 30, 2018 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. No Series A Preferred Stock was outstanding during the three and nine months ended September 30, 2019.

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 three and nine months ended September 30, 2018 (in thousands, except per share data):


	Three months ended		Nine months ended
	September 30,		September 30,
	2018		2018
Net loss	$	(10,581)	$	(20,350)
Less: preferred dividends		(1,892)		(5,548)
Net loss attributable to common stockholders	$	(12,473)	$	(25,898)

Denominator:
Weighted average common shares outstanding		14,085		13,873

Loss per common share - basic and diluted under two-class method	$	(0.89)	$	(1.87)

There were no preferred dividends for the three or nine months ended September 30, 2019 since no Series A Preferred Stock was outstanding.