Net Loss Per Share

12 Months Ended

Dec. 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, RSUs, PSUs, warrants to purchase common stock and rights under our Notes.

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




	Year Ended December 31,
	2021		2020		2019
Numerator
Net loss	$	(227,413)	$	(209,383)	$	(419,503)
Denominator
Weighted average common shares outstanding, basic and diluted	55,880		53,706		43,078
Net loss per share, basic and diluted	$	(4.07)	$	(3.90)	$	(9.74)

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)	2021	2020	2019
Shares subject to outstanding stock options	6,242	4,966	4,085
Shares subject to outstanding RSUs and PSUs	1,051	464	382
Shares subject to outstanding warrants to purchase common stock	15	28	28
Shares issuable upon conversion of Notes	9,471	4,415	—
Total	16,779	9,873	4,495