Weighted Average Shares Outstanding and Net Loss Per Share

3 Months Ended

Mar. 31, 2024

Weighted Average Shares Outstanding and Net Loss Per Share

The following table presents a reconciliation of the weighted average shares of common stock used in calculating basic and diluted net loss per share as well as the calculation of basic and diluted net loss per share:


	Three Months Ended March 31,
(in thousands, except per share amounts)	2024		2023
Numerator


Net loss attributable to common shareholders	$	(30,983)	$	(23,023)
Denominator
Weighted average common shares outstanding, basic	43,988		43,764


Weighted average common shares outstanding, diluted	43,988		43,764

Net loss per share, basic	$	(0.70)	$	(0.53)
Net loss per share, diluted	$	(0.70)	$	(0.53)

Due to net losses for the three months ended March 31, 2024 and 2023, both the unvested RSUs representing 573,000 and 583,000 shares, respectively, and the potential dilution from the convertible notes converting into 9,099,000 and 7,309,000 shares, respectively, of common stock have been excluded from the calculation of diluted earnings per share, as their inclusion would have been antidilutive. In connection with the issuance of the 3.75% Convertible Notes in May 2023, we entered into Capped Call Transactions, which were not included for purposes of calculating the number of diluted shares outstanding, as their effect would have been anti-dilutive.