Basic and Diluted Net Loss Per Common Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Basic and Diluted Net Loss Per Common Share

3. Basic and Diluted Net Loss Per Common Share

In calculating net loss per share, the Company follows the two-class method, which distinguishes between classes of securities based on the proportionate participation rights of each security type in the Company’s undistributed net loss.  The Company’s Class A common stock, Class B common stock and Series C convertible preferred stock share equally on an as-converted basis with respect to net loss.  

Basic net loss per share is computed by dividing net loss applicable to stockholders by the weighted average number of shares for each period on an as-converted basis. Diluted net loss income per common share is computed by giving effect to common stock equivalents as if they were outstanding for the entire period.

The following tables set forth the computation of basic and diluted net loss available to stockholders for the three-month periods ended March 31, 2020 and 2019 (in thousands):

	Three-Months Ended March 31,
	2020									2019
	Class A			Class B			Series C			Class A			Class B			Series C
Basic net loss per share:
Numerator
Allocation of undistributed losses	$	(8,279	)		(4,568	)		(1,483	)	$	(2,272	)		(1,253	)		(407	)
Denominator
Number of shares used in per share computation (as converted)		4,242			2,340			760			4,242			2,340			760
Basic net loss per share	$	(1.95	)		(1.95	)		(1.95	)	$	(0.54	)		(0.54	)		(0.54	)
Diluted net loss per share:
Numerator
Allocation of undistributed losses	$	(8,279	)		(4,568	)		(1,483	)	$	(2,272	)		(1,253	)		(407	)
Denominator
Number of shares used in basic computation		4,242			2,340			760			4,242			2,340			760
Weighted-average impact of dilutive equity instruments		—			—			—			—			—			—
Number of shares used in per share computation (as converted)		4,242			2,340			760			4,242			2,340			760
Diluted net loss per share	$	(1.95	)		(1.95	)		(1.95	)	$	(0.54	)		(0.54	)		(0.54	)
Common stock equivalents excluded from calculation of    diluted net loss per share as the effect would    have been anti-dilutive:		379			—			—			445			—			—