Net Loss per Share

3 Months Ended

Mar. 31, 2022

Net Loss per ShareBasic net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period, less shares subject to repurchase, and excludes any dilutive effects of employee share based awards and options. Diluted net income per common share is computed giving effect to all potentially dilutive common shares, including common stock issuable upon exercise of stock options, convertible preferred stock, conversion of the Convertible Senior Notes, and unvested restricted common stock and stock units. As we had net losses for continuing operations for the three months ended March 31, 2022 and 2021, all potentially issuable common shares were determined to be anti-dilutive.

The following table sets forth the computation of net loss per common share (in thousands, except per share amounts):


	Three Months Ended March 31,
	2022		2021
Numerator:
Loss from continuing operations	$	(92,014)	$	(86,455)
Net income from discontinued operations	—		35,809
Net loss	(92,014)		(50,646)
Dividend on series A convertible preferred stock	(4,718)		(4,512)
Accretion of series A convertible preferred stock	—		(82)
Net loss attributable to common stockholders	$	(96,732)	$	(55,240)


Denominator:
Weighted average number of shares outstanding—basic and diluted	230,584		234,740

Net loss per share attributable to common stockholders, basic and diluted:
Continuing operations	$	(0.42)	$	(0.39)
Discontinued operations	—		0.15
Total net loss per share attributable to common stockholders, basic and diluted	$	(0.42)	$	(0.24)

The following outstanding options, unvested shares and units, ESPP shares, shares issuable upon the conversion of the Convertible Senior Notes, convertible preferred stock and shares contingently issuable were excluded (as common stock equivalents) from the computation of diluted net loss per common share for the periods presented as their effect would have been anti-dilutive (in thousands):


	As of March 31,
	2022	2021
Options to purchase common stock	1,568	3,153

Unvested restricted stock awards and units	22,113	28,418
Convertible preferred stock	24,587	23,511
Convertible senior notes	33,856	33,856
ESPP shares	490	669