Net Loss per Share Attributable to Common Stock (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Basic and Diluted Earnings Per Share

The calculation of basic and diluted net loss per share attributable to common stock was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Net loss	$	(90,245)	$	(18,949)	$	(259,197)	$	(82,611)
Non-cash dividends on convertible preferred stock	(272)		(1,662)		(1,416)		(5,875)

Net loss attributable to common stock—basic and diluted	$	(90,517)	$	(20,611)	$	(260,613)	$	(88,486)
Denominator:
Weighted-average shares—basic and diluted(1)	108,618,491		105,144,872		107,566,894		104,327,614



Net loss per share attributable to common stock—basic and diluted	$	(0.83)	$	(0.20)	$	(2.42)	$	(0.85)

(1) Basic and diluted weighted-average shares outstanding include (i) common stock earned but not yet issued related to share-based dividends on our convertible preferred stock, and (ii) restricted stock units that have vested but whose settlement into common stock were deferred at the option of certain non-employee directors.

Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following outstanding shares of common stock equivalents were excluded from the computation of the diluted net loss per share for the periods presented because their effect would have been anti-dilutive:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2022	2021	2022	2021
2023 notes as if converted	769,623	769,623	769,623	769,623
2025 notes as if converted	9,119,960	9,119,960	9,119,960	9,119,960
2027 notes as if converted	6,147,900	6,147,900	6,147,900	6,147,900
Convertible preferred stock as if converted	2,040,000	2,040,000	2,040,000	2,040,000
Stock options outstanding	3,309,305	4,374,257	3,309,305	4,374,257
Restricted stock units outstanding(1)(2)	11,300,717	3,424,733	11,300,717	3,424,733
Employee stock purchase plan	775,579	153,208	775,579	153,208
Total	33,463,084	26,029,681	33,463,084	26,029,681

(1) Excludes 1,119,236 incremental PSUs that could vest, assuming applicable performance criteria and market conditions are achieved at 200% of target, which is the maximum achievement level. See Note 12 for additional information regarding PSUs.

(2) Excludes 21,408 restricted stock units that have vested but whose settlement into common stock were deferred at the option of certain non-employee directors as of September 30, 2022.