Net Loss Per Share

12 Months Ended

Dec. 31, 2022

16.	NET LOSS PER SHARE

Basic and diluted net loss per share is presented in conformity with the two-class method required for participating securities. The Company’s redeemable convertible preferred stock were participating securities as the holders of the redeemable convertible preferred stock were entitled to participate in dividends with common stock. The Company’s common stock, which was converted from redeemable convertible preferred stock upon the closing of its IPO, is weighted based on the period of time the common stock was outstanding after conversion in 2021.

Net losses were not allocated to the redeemable convertible preferred stock as the holders of the redeemable convertible preferred stock did not have a contractual obligation to share in any losses. Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period.

As the Company has reported net losses attributable to common stockholders for all periods presented, all potentially dilutive securities are antidilutive and accordingly, basic net loss per share attributable to common stockholders equals diluted net loss per share attributable to common stockholders.

The following weighted-average potentially dilutive shares are excluded from the calculation of diluted earnings per share as they are anti-dilutive:

	Year Ended December 31,
	2022		2021		2020
Shares of common stock issuable upon conversion of redeemable convertible preferred stock		-		33,431,158		82,428,289
Shares of common stock issuable upon conversion of Series I warrant		-		-		1,059,620
RSUs and RSAs subject to future vesting		8,189,247		6,155,387		3,826,250
Shares issuable pursuant to the ESPP		627,698		326,819		-
Shares of common stock issuable from stock options		6,450,019		9,618,882		15,749,829
Total		15,266,964		49,532,246		103,063,988