Basic and Diluted Net Loss Per Common Share

3 Months Ended

Mar. 31, 2024

Basic and Diluted Net Loss Per Common Share

Note 12. 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 stock options, assumed release of outstanding RSUs, assumed issuance of common stock under the ESPP, and the assumed exercise of Tempus Warrants. The Company incurred net losses in the periods presented, and as a result, potential common shares from stock options, RSUs, ESPP issuances, and the Tempus Warrants 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,
	2024			2023
Net loss	$	(12,968	)	$	(28,659	)
Weighted-average common shares outstanding—basic and diluted		50,678,586			46,740,270
Net loss per common share—basic and diluted	$	(0.26	)	$	(0.61	)

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,
	2024		2023
Tempus Warrants		9,218,800		—
Options to purchase common stock		8,213,682		7,774,911
Unvested RSUs		1,047,511		2,197,008
ESPP		408,543		453,380
Total		18,888,536		10,425,299