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Net Loss per Common Share (Tables)
12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Summary of Basic and Diluted Net Loss per Common Share

The following table presents the calculation of basic and diluted net loss per common share (amounts in thousands except per share amounts):

 

Year Ended December 31,

 

 

2024

 

 

2023

 

 

2022

 

Numerator:

 

 

 

 

 

 

 

 

Net loss

$

(197,878

)

 

$

(528,628

)

 

$

(652,172

)

Denominator:

 

 

 

 

 

 

 

 

Weighted-average number of common shares used in net loss per common share - basic and diluted

 

123,905

 

 

 

118,678

 

 

 

106,114

 

Net loss per common share -- basic and diluted

$

(1.60

)

 

$

(4.45

)

 

$

(6.15

)

Summary of Shares Outstanding that were Excluded from Calculation of Diluted Net Loss Per Share

Shares outstanding presented below were excluded from the calculation of diluted net loss per share, prior to the use of the if-converted-method and treasury stock method, as their effect is anti-dilutive (in thousands):

 

 

Year Ended December 31,

 

 

2024

 

 

2023

 

 

2022

 

Convertible notes

 

2,379

 

 

 

2,379

 

 

 

2,379

 

Common stock options

 

8,048

 

 

 

8,664

 

 

 

12,295

 

Restricted stock units

 

3,962

 

 

 

4,301

 

 

 

3,572

 

Total

 

14,389

 

 

 

15,344

 

 

 

18,246