Computation of Net Loss per Common Share

Basic net loss per share (“EPS”) is computed by dividing net loss by the weighted-average number of common shares outstanding for the period. Where applicable, diluted EPS is computed by dividing the net loss by the weighted-average number of common shares and dilutive common equivalent shares outstanding during the period, calculated using the treasury stock method. Common equivalent shares include the effect of restricted stock, exercise of stock options and warrants and contingently issuable shares. For the three and nine months ended December 31, 2017, 1.2 million shares were not included in the calculation of diluted EPS as they were considered anti-dilutive, of which 0.3 million relate to outstanding stock options, and 0.9 million relate to outstanding warrants. For the three and nine months ended December 31, 2016, 1.6 million shares were not included in the calculation of diluted EPS as they were considered anti-dilutive, of which 0.4 million relate to outstanding stock options, and 1.2 million relate to outstanding warrants.

The following table reconciles the numerators and denominators of the earnings per share calculation for the three and nine months ended December 31, 2017 and 2016 (in thousands, except per share data):



	Three months ended December 31,						Nine months ended December 31,
	2017			2016			2017			2016
Numerator:
Net loss	$	(4,248	)	$	(2,768	)	$	(26,782	)	$	(20,448	)
Denominator:
Weighted-average shares of common stock outstanding	20,889			14,203			19,189			14,175
Weighted-average shares subject to repurchase	(940		)	(411		)	(575		)	(429		)
Shares used in per-share calculation ― basic	19,949			13,792			18,614			13,746
Shares used in per-share calculation ― diluted	19,949			13,792			18,614			13,746
Net loss per share ― basic	$	(0.21	)	$	(0.20	)	$	(1.44	)	$	(1.49	)
Net loss per share ― diluted	$	(0.21	)	$	(0.20	)	$	(1.44	)	$	(1.49	)