Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share

Schedule of potential dilutive common shares

	At September 30,
	2020	2019
Stock options outstanding (1)	14,434,983	23,597,871
Restricted stock outstanding (2)	5,992,974	4,333,560
Common stock warrants (3)	110,573,392	115,824,142
Preferred stock (4)	—	15,019,838
Convertible Senior Notes (5)	56,872,730	59,133,896
Number of dilutive potential shares of common stock	187,874,079	217,909,307

(1) During the three months ended September 30, 2020 and 2019, the Company granted 3,192,400 and 2,572,500 stock options, respectively. During the nine months ended September 30, 2020 and 2019, the Company granted 3,367,049 and 2,936,892 stock options, respectively.

(2) During the three months ended September 30, 2020 and 2019, the Company granted 3,095,000 and 2,562,500 shares of restricted stock, respectively. During the nine months ended September 30, 2020 and 2019, the Company granted 3,189,649 and 2,926,892 shares of restricted stock, respectively.

(3) In April 2017, the Company issued warrants to acquire up to 55,286,696 of the Company’s common stock as part of a transaction agreement with Amazon, subject to certain vesting events, as described in Note 12, Warrant Transaction Agreements. Of these warrants issued, none have been exercised as of September 30, 2020.

In July 2017, the Company issued warrants to acquire up to 55,286,696 of the Company’s common stock as part of a transaction agreement with Walmart, subject to certain vesting events, as described in Note 12, Warrant Transaction Agreements. Of these warrants issued, none have been exercised as of September 30, 2020.

(4) The preferred stock amount represents the dilutive potential on the shares of common stock as a result of the conversion of the Series C Redeemable Convertible Preferred Stock (Series C Preferred Stock) and Series E Redeemable Preferred Stock (Series E Preferred Stock), based on the conversion price of each preferred stock as of September 30, 2020, and 2019, respectively. Of the 10,431 shares of Series C Preferred Stock issued on May 16, 2013, all shares had been converted to common stock as of September 30, 2020.  On November 1, 2018, the Company issued 35,000 shares of Series E Preferred Stock. As of December 31, 2019, 30,462 shares of the Series E Preferred Stock had been converted to common stock and 4,038 shares were redeemed for cash. The remaining 500 shares of Series E Preferred Stock were converted to common stock in January 2020.

(5) In March 2018, the Company issued the 5.5% Convertible Senior Notes. In September 2019, the Company issued the $7.5% Convertible Senior Note, which was fully converted into 16.0 million shares on July 1, 2020. In May 2020, the Company issued the 3.5% Convertible Senior Notes and repurchased $66.3 million of the 5.5% Convertible Senior Notes. See Note 9, Convertible Senior Notes.