Net Loss Per Share

9 Months Ended

Sep. 30, 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 the 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 September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator:
Net loss	$	(58,004)	$	(60,089)	$	(172,530)	$	(139,213)

Denominator:
Shares used in per share calculation	55,905		55,548		55,831		53,039

Net loss per share, basic and diluted	$	(1.04)	$	(1.08)	$	(3.09)	$	(2.62)

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 September 30,		Nine Months Ended September 30,
	2021	2020	2021	2020
Shares subject to outstanding stock options	6,534	5,149	6,118	4,848
Shares subject to outstanding restricted stock units	1,173	422	1,032	487
Shares subject to outstanding warrants to purchase common stock	6	28	21	28
Shares issuable upon conversion of Notes	9,430	269	9,430	90
Total	17,143	5,868	16,601	5,453