NET LOSS PER SHARE

6 Months Ended

Jun. 30, 2019

13. NET LOSS PER SHARE

Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding. Diluted net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock and dilutive common stock equivalents outstanding. For the three and six months ended June 30, 2019 and 2018, there were no differences between basic and diluted net loss per share since the effect of common stock equivalents would be anti-dilutive due to the net loss position and, therefore, would be excluded from the diluted net loss per share calculation.

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2019			2018			2019			2018
	(in thousands, except per share amounts)
Net loss	$	(276,403	)	$	(109,267	)	$	(353,046	)	$	(144,630	)
Weighted-average common shares outstanding - basic		73,958			65,484			72,850			65,060
Effect of dilutive securities*		—			—			—			—
Weighted-average common shares outstanding - diluted		73,958			65,484			72,850			65,060
Net loss per share - basic and diluted	$	(3.74	)	$	(1.67	)	$	(4.85	)	$	(2.22	)

For the three and six months ended June 30, 2019 and 2018, stock options, RSAs, RSUs, stock appreciation rights (“SAR”) to purchase 9.7 million and 9.4 million shares of the Company’s common stock, respectively, were excluded from the diluted net loss per share calculation as their effect would have been anti-dilutive.