XML 24 R10.htm IDEA: XBRL DOCUMENT
v3.20.2

Net Loss per Share | 6 Months Ended
--- | ---
Jun. 30, 2020
Earnings Per Share [Abstract] |
Net Loss per Share | 3. Net Loss per Share We compute net loss per share using the two-class method required for multiple classes of common stock. We have three classes of authorized common stock for which voting rights differ by class. Basic net loss per share is computed by dividing net loss attributable to each class of stockholders by the weighted-average number of shares of stock outstanding during the period. Vested restricted stock units (“RSUs”) that have not been settled, including the vested Chief Executive Officer (“CEO”) RSU award that was received upon our initial public offering (“IPO”) (“CEO Award”), and restricted stock awards (“RSAs”) for which the risk of forfeiture has lapsed have been included in the appropriate common share class used to calculate basic net loss per share. For the calculation of diluted net loss per share, net loss per share attributable to common stockholders for basic net loss per share is adjusted by the effect of dilutive securities, including awards under our equity compensation plans. Diluted net loss per share attributable to common stockholders is computed by dividing the resulting net loss attributable to common stockholders by the weighted-average number of fully diluted common shares outstanding. We use the if-converted method for calculating any potential dilutive effect of the senior convertible notes due in 2025 and 2026 (collectively, the “Convertible Notes”) on diluted net loss per share, subject to meeting the criteria for using the treasury stock method in future periods. The Convertible Notes would have a dilutive impact on net income per share when the average market price of Class A common stock for a given period exceeds the respective conversion price of the Convertible Notes. For the periods presented, our potentially dilutive shares relating to stock options, RSUs, RSAs, convertible notes, and common stock subject to repurchase were not included in the computation of diluted net loss per share as the effect of including these shares in the calculation would have been anti-dilutive. The numerators and denominators of the basic and diluted net loss per share computations for our common stock are calculated as follows for the three and six months ended June 30, 2020 and 2019:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
|  | (in thousands, except per share data) |
|  | Class A Common |  |  | Class B Common |  |  | Class C Common |  |  | Class A Common |  |  | Class B Common |  |  | Class C Common |  |  | Class A Common |  |  | Class B Common |  |  | Class C Common |  |  | Class A Common |  |  | Class B Common |  |  | Class C Common |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (266,759 | ) |  | $ | (5,462 | ) |  | $ | (53,730 | ) |  | $ | (200,295 | ) |  | $ | (9,089 | ) |  | $ | (45,790 | ) |  | $ | (515,923 | ) |  | $ | (10,692 | ) |  | $ | (105,271 | ) |  | $ | (440,465 | ) |  | $ | (22,440 | ) |  | $ | (102,676 | )
Net loss attributable to common stockholders |  | $ | (266,759 | ) |  | $ | (5,462 | ) |  | $ | (53,730 | ) |  | $ | (200,295 | ) |  | $ | (9,089 | ) |  | $ | (45,790 | ) |  | $ | (515,923 | ) |  | $ | (10,692 | ) |  | $ | (105,271 | ) |  | $ | (440,465 | ) |  | $ | (22,440 | ) |  | $ | (102,676 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic shares: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares - Basic |  |  | 1,184,246 |  |  |  | 24,248 |  |  |  | 238,528 |  |  |  | 1,069,507 |  |  |  | 48,535 |  |  |  | 244,502 |  |  |  | 1,172,536 |  |  |  | 24,300 |  |  |  | 239,249 |  |  |  | 1,051,952 |  |  |  | 53,593 |  |  |  | 245,218 |
Diluted shares: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares - Diluted |  |  | 1,184,246 |  |  |  | 24,248 |  |  |  | 238,528 |  |  |  | 1,069,507 |  |  |  | 48,535 |  |  |  | 244,502 |  |  |  | 1,172,536 |  |  |  | 24,300 |  |  |  | 239,249 |  |  |  | 1,051,952 |  |  |  | 53,593 |  |  |  | 245,218 |
Net loss per share attributable to common stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.23 | ) |  | $ | (0.23 | ) |  | $ | (0.23 | ) |  | $ | (0.19 | ) |  | $ | (0.19 | ) |  | $ | (0.19 | ) |  | $ | (0.44 | ) |  | $ | (0.44 | ) |  | $ | (0.44 | ) |  | $ | (0.42 | ) |  | $ | (0.42 | ) |  | $ | (0.42 | )
Diluted |  | $ | (0.23 | ) |  | $ | (0.23 | ) |  | $ | (0.23 | ) |  | $ | (0.19 | ) |  | $ | (0.19 | ) |  | $ | (0.19 | ) |  | $ | (0.44 | ) |  | $ | (0.44 | ) |  | $ | (0.44 | ) |  | $ | (0.42 | ) |  | $ | (0.42 | ) |  | $ | (0.42 | )
The following potentially dilutive shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented:
|  | Three and Six Months Ended June 30, |
|  | 2020 |  |  | 2019 |
|  | (in thousands) |
Stock options |  |  | 7,008 |  |  |  | 12,491 |
Unvested RSUs and RSAs |  |  | 152,972 |  |  |  | 158,253 |
Convertible Notes (if-converted) |  |  | 101,591 |  |  |  | — |

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration