Basic and Diluted Net Loss Per Share

12 Months Ended

Dec. 31, 2020

Basic and Diluted Net Loss Per Share

Basic and Diluted Net Loss Per Share

14.   Basic and Diluted Net Loss Per Share

Basic and diluted net loss per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. It has been retrospectively adjusted for all periods prior to the reverse capitalization. The retroactive adjustment is based on the same number of weighted average shares outstanding in each historical period.

Under the two-class method, basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period.

Diluted earnings per share attributable to common stockholders adjusts basic earnings per share for the potentially dilutive impact of stock options, restricted stock units, restricted stock awards, convertible notes, earnout shares and warrants. As the Company has reported losses for all periods presented, all potentially dilutive securities are antidilutive and accordingly, basic net loss per share equals diluted net loss per share.

The following table sets forth the computation of the Company’s basic and diluted net loss attributable per share to common stockholders for the years ended December 31, 2020 and 2019:

	2020		2019
Numerator:
Net loss	$	(51,609)	$	(103,319)
Induced conversion of preferred stock		(17,284)		—
Net loss attributable to common stockholders	$	(68,893)	$	(103,319)
Denominator:
Shares used in computing net loss attributable per share to common stockholders, basic and diluted		36,344,234		31,170,351
Net loss attributable per share to common stockholders:
Basic and diluted	$	(1.90)	$	(3.31)

The following table discloses securities that could potentially dilute basic net loss per share in the future that were not included in the computation of diluted net loss per share because to do so would have been antidilutive for all periods presented:

	2020	2019
Stock options	6,414,611	7,428,682
Restricted stock units and awards	2,581,902	495,633
Public and private warrants	14,325,000	3,060,530
Earnout shares	6,150,000	—
Convertible debt	—	1,734,264

See Note 7 for additional information regarding the terms of warrants. See Note 8 for additional information regarding stock options and restricted stock units and awards.