Net Loss per Share Available to Common Stockholders

12 Months Ended

Dec. 31, 2021

Net Loss per Share Available to Common Stockholders

Net loss per share (basic) available to common stockholders is calculated by dividing net loss available to common stockholders by the weighted-average shares of common stock outstanding for the period. Net loss per share is the same for each class of common stock as they are entitled to the same liquidation and dividend rights. As a result, net loss per share (basic) and net loss per share (diluted) available to common stockholders are the same for both Class A and Class B common stock and are combined for presentation.

Net loss per share (diluted) is computed by using the if-converted method when calculating the potentially dilutive effect, if any, of our convertible notes. Net loss per share (diluted) available to common stockholders is then calculated by dividing the resulting adjusted net loss available to common stockholders by the combined weighted-average number of fully diluted common shares outstanding. There were no adjustments to net loss available 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.

The following table sets forth the computation of our net loss per share available to common stockholders, basic and diluted (in thousands, except per share amounts):


	Years Ended December 31,
		2021		2020		2019

Numerator:
Net loss attributable to Class A and Class B common stockholders		$	(164,445)	$	(157,553)	$	(304,414)
Deemed dividend		—		—		(2,454)
Net loss available to Class A and Class B common stockholders		$	(164,445)	$	(157,553)	$	(306,868)
Denominator:




Weighted average shares of common stock, basic and diluted		173,438		138,722		115,118
Net loss per share available to Class A and Class B common stockholders, basic and diluted		$	(0.95)	$	(1.14)	$	(2.67)

On December 29, 2021, we issued 10,000,000 shares of Series A Redeemable Convertible Preferred Stock. For additional information, see Note 18 - SK ecoplant Strategic Investment. The following common stock equivalents (in thousands) were excluded from the computation of our net loss per share available to common stockholders, diluted, for the years presented as their inclusion would have been antidilutive:


	Years Ended December 31,
		2021	2020	2019

Convertible notes		14,187	29,729	27,213
Redeemable convertible preferred stock		82	—	—
Stock options and awards		7,018	6,109	4,631


		21,287	35,838	31,844