Loss Per Share

The Company computes basic loss per share by dividing Net loss available to common stockholders by the weighted-average common shares outstanding during the year. Diluted loss per share is calculated to give effect to all potentially dilutive common shares that were outstanding during the year. Weighted-average diluted common shares outstanding primarily reflect the additional shares that would be issued upon the assumed exercise of stock options and the assumed vesting of unvested share awards. The treasury stock method has been used to compute diluted EPS for 2018 and 2017. For 2017, the Company recognized deemed dividends on the Series B Convertible Preferred Stock issued to Weichai and subsequently converted to Common Stock.

The Company issued warrants that represent the right to purchase shares of Common Stock, SARs and RSAs, all of which have been evaluated for their potentially dilutive effect under the treasury stock method. See Note 3. Weichai Transactions for additional information on the Weichai Warrants and Note 12. Stock-Based Compensation for additional information on the SARs and the RSAs.

The computations of basic and diluted loss per share are as follows:



(in thousands, except per share basis)	For the Year Ended December 31,
	2018			2017
Numerator:
Net loss	$	(54,726	)	$	(47,612	)
Less: Deemed dividend on Series B convertible preferred stock	—			(37,860		)
Net loss available to common stockholders - basic and diluted	$	(54,726	)	$	(85,472	)

Denominator:
Shares used in computing net loss per share:
Weighted-average basic shares outstanding	18,585			13,787
Effect of dilutive securities	—			—
Weighted-average common shares outstanding — diluted	18,585			13,787

Loss per common share:
Loss per share of common stock - basic	$	(2.94	)	$	(6.20	)
Loss per share of common stock - diluted	$	(2.94	)	$	(6.20	)

For 2018 and 2017, SAR and RSA grants were not included in the diluted loss per share calculation, as they would have been anti-dilutive due to the losses reported in the Consolidated Statements of Operations. Additionally, for all periods, certain SAR grants were excluded from the diluted loss per share calculation, as the Company’s average stock price was less than their respective exercise prices.

For 2018 and 2017, the Weichai Warrant and, for 2017, the Series B Convertible Preferred Stock were excluded from the diluted loss per share calculation, as they would have been anti-dilutive.

The aggregate shares excluded from the diluted loss per share calculations, as they would have been anti-dilutive, were 3.9 million and 6.3 million shares in 2018 and 2017, respectively.