Net Loss Per Share

12 Months Ended

Dec. 31, 2021

Net Loss Per Share

Net Loss Per Share

Note 4—Net Loss Per Share

Our potentially dilutive securities include potential common shares related to our stock options, warrants, restricted stock units and unsecured convertible senior notes. Diluted earnings per share (“Diluted EPS”) considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. Diluted EPS excludes the impact of potential common shares related to our stock options in periods in which the option exercise price is greater than the average market price of our common stock for the period.

Potentially dilutive securities excluded from Diluted EPS are as follows:

	Year Ended December 31,
	2021	2020	2019
2023 Notes convertible to common stock (1)	4,941,739	7,932,791	10,923,843
Outstanding options to purchase common stock	1,707,371	1,585,332	2,664,841
Outstanding restricted stock units	2,642	—	—
Outstanding warrants to purchase common stock	—	10,792	16,153
Total potentially dilutive shares excluded from loss per share	6,651,752	9,528,915	13,604,837

(1) The 2023 Notes are subject to a capped call arrangement that potentially reduces the dilutive effect as described in “Note 9 — Unsecured Convertible Senior Notes”. Any potential impact of the capped call arrangement is excluded from this table.