Net Loss per Share

12 Months Ended

Dec. 31, 2021

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods indicated:


(in thousands, except per share amounts)	Year Ended December 31,
	2019		2020		2021
Numerator:
Net loss attributable to stockholders	$	(46,682)	$	(52,293)	$	(18,527)

Undistributed losses allocated to stockholders	$	(46,682)	$	(52,293)	$	(18,527)

Denominator:
Weighted average number of shares outstanding, basic	88,154,830		88,345,312		90,218,386
Weighted average additional shares assuming conversion of potential shares of common stock	—		—		—
Weighted average shares of common stock outstanding - diluted	88,154,830		88,345,312		90,218,386

Net loss per share attributable to stockholders, basic	$	(0.53)	$	(0.59)	$	(0.21)

Net loss per share attributable to stockholders, diluted	$	(0.53)	$	(0.59)	$	(0.21)

Prior to the forgiveness of the promissory notes in August 2021, the Company’s participating securities included shares of common stock issued in exchange for promissory notes that were being treated as fully vested outstanding stock options and were excluded from the denominator of basic earnings per share. These awards contained the same rights to distributions declared on the Company’s common stock but did not have a contractual obligation to share in losses, and as a result, in the periods where the Company was in a net loss position, net losses were not allocated to these participating securities. For the year ended December 31, 2021, the forgiven promissory notes are reflected as an issuance of common stock and are included in the denominator of basic earnings per share.

The following potentially dilutive outstanding securities were excluded from the computation of diluted net income (loss) per share because their effect would have been anti-dilutive for the years ended December 31, 2019, 2020 and 2021, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period:



	2019	2020	2021
Stock options	8,411,158	9,410,290	13,466,262
Common stock issued in exchange for promissory notes	—	370,812	—
Restricted Stock Awards	—	—	1,779,716
Restricted Stock Units	—	—	41,933