Net Loss Per Share

6 Months Ended

Jun. 30, 2020

Note 11 - Net Loss Per Share

Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. The weighted-average number of shares of common stock outstanding does not include any potentially dilutive securities or unvested restricted stock. Unvested restricted stock, although classified as issued and outstanding at June 30, 2020 and 2019, is considered contingently returnable until the restrictions lapse and will not be included in the basic net loss per share calculation until the shares are vested. Unvested restricted stock does not contain non-forfeitable rights to dividends and dividend equivalents. Unvested RSUs are not included in calculations of basic net loss per share, as they are not considered issued and outstanding at time of grant.

Diluted net loss per share is computed by giving effect to all potential shares of common stock, including stock options, preferred stock, RSUs, and unvested restricted stock, to the extent they are dilutive. For the three and six months ended June 30,

2020 and 2019, all such common stock equivalents have been excluded from diluted net loss per share as the effect to net loss per share would be anti-dilutive (due to the net loss).

The following table sets forth the computation of the Company’s basic and diluted net loss per share (in thousands, except per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Numerator:
Net loss	$	(3,385)	$	(875)	$	(6,514)	$	(1,473)
Less: preferred stock dividends	(4)		(4)		(8)		(19)
Net loss attributable to common stockholders	$	(3,389)	$	(879)	$	(6,522)	$	(1,492)
Denominator:
Weighted-average number of shares of common stock for diluted net loss per share	5,240		5,163		5,222		5,134
Basic and diluted net loss per share	$	(0.65)	$	(0.17)	$	(1.25)	$	(0.29)

The following table represents the potential shares that were excluded from the computation of weighted-average number of shares of common stock in computing the diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect (due to the net loss):


	Six Months Ended
	June 30,
	2020	2019
Unvested restricted stock units	—	444,225

Outstanding stock options	215,345	117,751
Unvested restricted stock awards	627	11,320
Shares of common stock issuable upon conversion of Series A-2 preferred stock	15,545	10,995

Shares of common stock issuable upon conversion of Series C preferred stock	108,333	158,333
Shares of common stock issuable upon conversion of Series D preferred stock	17,030,960	—
Shares of common stock issuable upon conversion of Series E preferred stock	1,315,790	—
Warrants	72,394	—