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Basic and Diluted Net Loss Per Common Share
3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
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, common stock warrants, 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 net loss per common share (in thousands, except share and per share amounts):

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Net loss

 

$

(28,209

)

 

$

(12,404

)

Weighted-average common shares outstanding—basic and diluted

 

 

44,995,752

 

 

 

42,265,596

 

Net loss per common share—basic and diluted

 

$

(0.63

)

 

$

(0.29

)

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,

 

 

 

2022

 

 

2021

 

Options to purchase common stock

 

 

5,141,353

 

 

 

5,301,728

 

Unvested RSUs

 

 

1,643,609

 

 

 

638,998

 

ESPP

 

 

80,805

 

 

 

57,546

 

Total

 

 

6,865,767

 

 

 

5,998,272