Basic and Diluted Net Loss Per Common Share

3 Months Ended

Mar. 31, 2023

Basic and Diluted Net Loss Per Common Share

Note 10. Basic and Diluted Net Loss Per Common Share

Basic net loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is computed using net loss and the weighted-average number of common shares outstanding plus potentially dilutive common shares outstanding during the period. Potentially dilutive common shares include the assumed exercise of outstanding in-the-money stock options and common stock warrants, assumed release of outstanding RSUs, and assumed issuance of common stock under the ESPP using the treasury stock method. The Company incurred net losses in the periods presented, and as a result, potential common shares from stock options, RSUs, and the assumed release of outstanding shares under the ESPP were not included in the diluted shares used to calculate net loss per share, as their inclusion would have been anti-dilutive.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2023			2022
Net loss	$	(28,659	)	$	(28,209	)
Weighted-average common shares outstanding—basic and diluted		46,740,270			44,995,752
Net loss per common share—basic and diluted	$	(0.61	)	$	(0.63	)

The following table sets forth the potentially dilutive shares excluded from the computation of diluted net loss per common share because their effect was anti-dilutive:


	Three Months Ended March 31,
	2023		2022
Options to purchase common stock		7,774,911		5,141,353
Unvested RSUs		2,197,008		1,643,609
ESPP		453,380		80,805
Total		10,425,299		6,865,767