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Loss Per Common Share
12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Loss Per Common Share

5. Loss Per Common Share

Diluted loss per common share is the same as basic loss per common share for all periods presented because the effects of potentially dilutive items were anti-dilutive given the Company’s net loss.

The following common share equivalent securities have been excluded from the calculation of weighted average common shares outstanding because the effect is anti-dilutive for the periods presented:

 

 

Year Ended December 31,

 

Anti-Dilutive Common Share Equivalents

 

2023

 

 

2022

 

 

2021

 

Stock options

 

 

8,175,088

 

 

 

7,131,150

 

 

 

5,301,146

 

Restricted stock units

 

 

8,919,024

 

 

 

7,877,598

 

 

 

3,476,841

 

Employee stock purchase plan

 

 

72,927

 

 

 

68,030

 

 

 

-

 

Total anti-dilutive common share equivalents

 

 

17,167,039

 

 

 

15,076,778

 

 

 

8,777,987

 

Basic and diluted net loss per common share is calculated as follows:

 

 

Year Ended December 31,

 

 

 

2023

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

 

Net loss

 

$

(47,325

)

 

$

(101,284

)

 

$

(199,649

)

Deemed dividend on preferred stock

 

 

-

 

 

 

-

 

 

 

(9,500

)

Accretion of convertible preferred stock

 

 

-

 

 

 

-

 

 

 

(15,141

)

Net loss attributable to common stockholders

 

$

(47,325

)

 

$

(101,284

)

 

$

(224,290

)

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding, basic and diluted

 

 

201,887,669

 

 

 

198,045,805

 

 

 

85,061,417

 

Net loss per common share, basic and diluted

 

$

(0.23

)

 

$

(0.51

)

 

$

(2.64

)