Net Loss Per Share

3 Months Ended

Mar. 31, 2021

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 Notes.

A reconciliation of the numerators and denominators used in computing net loss per share is as follows (in thousands, except per share amounts):


	Three Months Ended March 31,
	2021		2020
Numerator:
Net loss	$	(55,630)	$	(25,800)

Denominator:
Shares used in per share calculation	55,750		48,185

Net loss per share, basic and diluted	$	(1.00)	$	(0.54)

The following table presents the potential shares of common stock outstanding that were excluded from the calculation of diluted net loss per share for the periods presented because including them would have been anti-dilutive (in thousands):


	Three Months Ended March 31,
	2021	2020
Shares subject to outstanding stock options	5,476	4,450
Shares subject to outstanding restricted stock units	738	485
Shares subject to outstanding warrants to purchase common stock	28	28
Shares issuable upon conversion of Notes	9,430	—
Total	15,672	4,963