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Net Loss per Share Attributable to Common Stockholders
3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Net Loss per Share Attributable to Common Stockholders
Net Loss per Share Attributable to Common Stockholders
Net loss per share (basic) attributable to common stockholders is calculated by dividing net loss attributable to common stockholders by the weighted-average shares of common stock outstanding for the period. Net loss per share (diluted) is computed by using the "if-converted" method when calculating the potential dilutive effect, if any, of convertible shares whereby net loss attributable to common stockholders is adjusted by the effect of dilutive securities such as awards under equity compensation plans and inducement awards under separate restricted stock unit, or RSUs, award agreements. Net loss per share (diluted) attributable to common stockholders is then calculated by dividing the resulting adjusted net loss attributable to common stockholders by the combined weighted-average number of fully diluted common shares outstanding.
In July 2018, we completed an initial public offering of our common shares wherein 20,700,000 shares of Class A common stock were sold into the market. Added to existing shares of Class B common stock were shares mandatorily converted from various financial instruments as a result of the IPO. See Note 9, Common Stock Warrants.
There were no adjustments to net loss attributable to common stockholders in determining net loss attributable to common stockholders (diluted). Equally, there were no adjustments to the weighted average number of outstanding shares of common stock (basic) in arriving at the weighted average number of outstanding shares (diluted), as such adjustments would have been antidilutive.
Net loss per share is the same for each class of common stock as they are entitled to the same liquidation and dividend rights with the exception of voting rights. As a result, net loss per share (basic) and net loss per share (diluted) attributed to common stockholders are the same for both Class A and Class B common stock and are combined for presentation. The following table sets forth the computation of our net loss per share (basic) and net loss per share (diluted) attributable to common stockholders (in thousands, except per share amounts):
 
 
Three Months Ended
March 31,
 
 
2020
 
2019
 
 
 
 
As Restated
Numerator:
 
 
 
 
Net loss attributable to Class A and Class B common stockholders
 
$
(75,949
)
 
$
(104,920
)
Denominator:
 
 
 
 
Weighted average shares of common stock, basic and diluted
 
123,763

 
111,842

 
 
 
 
 
Net loss per share available to Class A and Class B common stockholders, basic and diluted
 
$
(0.61
)
 
$
(0.94
)


The following common stock equivalents (in thousands) were excluded from the computation of our net loss per share attributable to common stockholders (diluted) for the periods presented as their inclusion would have been antidilutive:
 
 
Three Months Ended
March 31,
 
 
2020
 
2019
 
 
 
 
 
Convertible and non-convertible redeemable preferred stock and convertible notes
 
40,723

 
27,241

Stock options to purchase common stock
 
4,993

 
5,190

 
 
45,716

 
32,431