Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of basic and diluted weighted average common shares outstanding

The following table (in thousands, except for loss per share) reconciles basic and diluted weighted average common shares outstanding for each of the three and six months ended June 30, 2019 and 2018:


	Three months ended				Six months ended
	June 30,				June 30,
	2019		2018		2019		2018
Weighted average common shares outstanding:
Basic		107,061		106,398		107,001		106,393
Dilutive unvested stock, Convertible Preferred Stock, Common Stock Warrants and IPO Warrants		—		—		—		—
Diluted		107,061		106,398		107,001		106,393

Basic and diluted net loss per share attributable to common stockholders	$	(0.07)	$	(0.03)	$	(0.23)	$	(0.18)

Schedule of antidilutive securities excluded from computation of earnings per share

Potentially dilutive securities not included in the diluted net loss per share computations because their effect would have been anti-dilutive were as follows (in thousands):


	Three months ended				Six months ended
	June 30,				June 30,
	2019		2018		2019		2018
Unvested stock (1)		605		417		548		396
Convertible Preferred Stock		12,647		—		11,891		—
Common Stock Warrants		1,542		—		1,462		—
IPO Warrants(2)		12,082		12,082		12,082		12,082
Total potentially dilutive common shares		26,876		12,499		25,983		12,478

⁽¹⁾

Does not include 4.1 million shares for each of the three and six months ended June 30, 2019 and 16.4 million shares for the three and six months ended June 30, 2018, of unvested stock because the performance conditions had not yet been satisfied as of June 30, 2019 and 2018, respectively.

⁽²⁾

In 2015, the Company issued warrants in connection with its initial public offering (the “IPO Warrants”). The IPO Warrants are exercisable at a price of $11.50 per share and expire on July 24, 2022. The Company may redeem the IPO Warrants at a price of $0.01 per IPO Warrant upon 30 days’ notice only if the last sale price of Company common stock is at least $17.50 per share for any 20 trading days within a 30-trading day period. If the Company redeems the IPO Warrants in this manner, the Company will have the option to do so on a cashless basis with the issuance of an economically equivalent number of shares of Company common stock.