Net Loss Per Share

12 Months Ended

Dec. 31, 2020

Basic net loss per share is calculated by dividing net loss by the weighted average number of shares outstanding for the period. Diluted net loss per share is calculated by dividing net loss by the weighted average number of shares of common stock and potential dilutive common stock equivalents outstanding during the period if the effect is dilutive. Our potentially dilutive shares of common stock include outstanding stock options, restricted stock units, warrants to purchase common stock and rights under our Senior Convertible Notes.

The following table presents the computation of basic and diluted loss per share (in thousands, except per share amounts):




	Year Ended December 31,
	2020		2019		2018
Numerator
Net loss	$	(209,383)	$	(419,503)	$	(123,914)
Denominator
Weighted average common shares outstanding, basic and diluted	53,706		43,078		37,884
Net loss per share, basic and diluted	$	(3.90)	$	(9.74)	$	(3.27)

The following table presents the potential common shares outstanding that were excluded from the computation of diluted loss per share of common stock for the periods presented because including them would have been antidilutive:


	Year Ended December 31,
(In thousands)	2020	2019	2018
Shares subject to outstanding common stock options	4,966	4,085	3,770
Shares subject to outstanding restricted stock units	464	382	289
Shares subject to outstanding warrants to purchase common stock	28	28	33
Shares issuable upon conversion of Convertible Senior Notes	4,415	—	—
Total	9,873	4,495	4,092