NET LOSS PER SHARE

12 Months Ended

Dec. 31, 2023

The following table sets forth the computation of the basic and diluted net loss per share for the years ended December 31, 2023, 2022, and 2021.


	Years Ended December 31,
	2023		2022		2021
Numerator:
Net loss from continuing operations	$	(864,621)	$	(738,138)	$	(690,438)
Net loss from discontinued operations	(101,661)		(46,100)		—
Net loss, basic	$	(966,282)	$	(784,238)	$	(690,438)
Less: revaluation of warrant liability	—		—		(3,051)
Net loss, diluted	$	(966,282)	$	(784,238)	$	(693,489)
Denominator:
Weighted average shares outstanding, basic	800,030,551		441,800,499		398,655,081
Dilutive effect of common stock issuable from assumed exercise of options	—		—		129,311
Weighted average shares outstanding, diluted	800,030,551		441,800,499		398,784,392

Basic net loss per share:
Net loss from continuing operations	$	(1.08)	$	(1.67)	$	(1.73)
Net loss from discontinued operations	$	(0.13)	$	(0.11)	$	—
Net loss	$	(1.21)	$	(1.78)	$	(1.73)

Diluted net loss per share:
Net loss	$	(1.21)	$	(1.78)	$	(1.74)

Basic net loss per share is computed by dividing net loss for the period by the weighted-average number of common shares outstanding during the period.

Diluted net loss per share is computed by dividing the net loss, adjusted for the revaluation of warrant liability, by the weighted average number of common shares outstanding for the period, adjusted for the dilutive effect of shares of common stock equivalents resulting from the assumed exercise of warrants. The treasury stock method was used to calculate the potential dilutive effect of these common stock equivalents.

Potentially dilutive shares were excluded from the computation of diluted net loss when their effect was antidilutive. The following outstanding common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive.


	Years Ended December 31,
	2023	2022	2021
Toggle Convertible Notes (on an as-converted basis)	21,539,624	24,123,014	—
Senior Convertible Notes (on an as-converted basis)	—	22,418,653	—
8.25% Convertible Notes (on an as-converted basis)	23,953,333	—	—
Outstanding warrants	841,183	1,137,850	—
Stock options, including performance stock options	15,041,373	22,470,585	28,996,160
Restricted stock units, including Market Based RSUs	28,541,121	21,645,858	25,496,384
Total	89,916,634	91,795,960	54,492,544