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Net Loss per Share
12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Net Loss per Share

10. Net Loss per Share

The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share data):

 

 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(276,213

)

 

$

(67,698

)

 

$

(57,010

)

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

44,767,581

 

 

 

38,466,233

 

 

 

33,098,571

 

Less: weighted average shares subject to repurchase

 

 

(2,085

)

 

 

(79,327

)

 

 

(266,057

)

Weighted average shares used to compute basic and diluted net loss per share

 

 

44,765,496

 

 

 

38,386,906

 

 

 

32,832,514

 

Net loss per share, basic and diluted

 

$

(6.17

)

 

$

(1.76

)

 

$

(1.74

)

 

Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding for the period. Diluted net loss per share is computed by dividing the net loss by the weighted average number of common shares and potentially dilutive securities for the period, determined using the treasury-stock method and the as-if converted method, for convertible securities, if inclusion of these is dilutive. Because the Company has reported a net loss for all periods presented, diluted net loss per common share is the same as basic net loss per common share for those periods.

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive:

 

 

 

As of December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

Common stock subject to repurchase

 

 

 

 

 

9,790

 

 

 

81,373

 

Options and awards issued and outstanding

 

 

5,315,254

 

 

 

3,864,407

 

 

 

2,964,549

 

 

As of December 31, 2019, the Company has contributions from plan participants of $0.4 million under the 2015 ESPP, which if converted, would be equivalent to 10,000 shares based on 85% of the stock price at the beginning of the offering period. As of December 31, 2018, the Company had contributions from plan participants of $0.3 million under the 2015 ESPP, which if converted, would be equivalent to 5,700 shares based on 85% of the stock price at the beginning of the offering period.