Net Loss Per Share

9 Months Ended

Sep. 30, 2022

17. Net Loss per Share

The following is a reconciliation of the basic and diluted loss per share computations:

	Three-Months Ended September 30,						Nine-Months Ended September 30,
	(in thousands, except per share data)
	2022			2021			2022			2021
Net Loss	$	(5,588	)	$	(5,948	)	$	(21,312	)	$	(16,663	)
Weighted-average common shares – outstanding, basic		25,007			24,905			24,972			24,175
Weighted-average common shares – outstanding, diluted		25,007			24,905			24,972			24,175
Net loss per common share, basic	$	(0.22	)	$	(0.24	)	$	(0.85	)	$	(0.69	)
Net loss per common share, diluted	$	(0.22	)	$	(0.24	)	$	(0.85	)	$	(0.69	)

The Company’s basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding for the relevant period. In accordance with ASC 710-10, 17,927 shares of common stock held by the rabbi trust are excluded from the denominator in the basic and diluted EPS calculations. For details on shares of common stock held by the rabbi trust refer to Note 18. For the purposes of the calculation of diluted net loss per share, options to purchase common stock,

restricted stock units and unvested shares of common stock issued upon the early exercise of stock options have been excluded from the calculation of diluted net loss per share as their effect is anti-dilutive. Because the Company has reported a net loss for the three and nine-months ended September 30, 2022, and 2021, diluted net loss per common share is the same as the basic net loss per share for those periods.