NET LOSS PER SHARE

The following is a reconciliation of basic and diluted net loss per share attributable to common stockholders:



	Three Months Ended
	March 31,
	2018			2017
Net loss	$	(5,000	)	$	(1,285	)
Accretion of cumulative dividends of redeemable preferred stock to redemption value	—			(1,426		)
Net loss attributable to common stockholders - basic and diluted	$	(5,000	)	$	(2,711	)

Weighted average number of shares - basic and diluted	12,073,776			1,744,356
Net loss per share attributable to common stockholders - basic and diluted	$	(0.41	)	$	(1.55	)

Our basic and diluted net loss per share is computed using the two-class method. The two-class method is an earnings allocation that determines net income per share for each class of common stock and participating securities according to their participation rights in dividends and undistributed earnings or losses. Non-vested restricted stock that includes non-forfeitable rights to dividends are considered participating securities.

Prior to the completion of our IPO on October 12, 2017, we had authorized 7,000,000 shares of redeemable convertible preferred stock, of which 5,446,978 were outstanding as of March 31, 2017, designated in series, with the rights and preferences of each series determined by the Board of Directors. Upon completion of our IPO, all of our previously outstanding shares of Series A and B Preferred Stock were converted into common stock on a 1:1 conversion ratio. As of March 31, 2018 and December 31, 2017, there are no redeemable convertible preferred shares outstanding. Series A and B preferred stock include rights to participate in dividends and distributions to common stockholders on an if-converted basis, and accordingly are also considered participating securities. During periods of undistributed losses however, no effect is given to our participating securities since they are not contractually obligated to share in the losses.

Because we have incurred a net loss for all periods presented, diluted net loss per common share is the same as basic net loss per common share. The following contingently issuable and convertible equity shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for all periods presented (shares for the redeemable convertible preferred shares for the three-months ended March 31, 2017 were determined based on the applicable conversion ratio of 1:1):



	Three Months Ended
	March 31,
	2018	2017
Redeemable convertible preferred stock - Series A	—	670,000
Redeemable convertible preferred stock - Series B	—	2,979,475
Restricted stock	697,020	676,210
Stock options	140,725	248,871
Warrants	44,101	44,101
	881,846	4,618,657