Earnings Per Share

12 Months Ended

Dec. 31, 2022

Net loss attributable to common stockholders used in computing basic and diluted earnings per share (“EPS”) has been calculated as the net loss less Series B cumulative dividends and other adjustments to redeemable convertible preferred stock of $0, $0.3 million, and $5.3 million for the years ended December 31, 2022, 2021, 2020, respectively. All of the Company’s outstanding series of redeemable convertible preferred stock are considered to be participating securities. The holders of the Company’s redeemable convertible preferred stock do not have a contractual obligation to share in the Company’s losses; therefore, no amount of total undistributed loss is allocated to redeemable convertible preferred stock.

Basic net loss per share attributable to common stockholders is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Because the Company has reported a net loss for 2022, 2021, and 2020, the number of shares used to calculate diluted net loss per share of common stock attributable to common stockholders is the same as the number of shares used to calculate basic net loss per share of common stock attributable to common stockholders for the period presented because the potentially dilutive shares would have been antidilutive if included in the calculation.

The computation of basic and diluted EPS is as follows for the years ended December 31, 2022, 2021, and 2020:


	Year ended December 31,
(In thousands, except shares and per share amounts)	2022		2021		2020
Net loss	$	(58,600)	$	(46,822)	$	(51,355)
Less: cumulative dividends and adjustments to redeemable convertible preferred stock	—		(277)		(5,290)
Net loss attributable to common stockholders	$	(58,600)	$	(47,099)	$	(56,645)
Weighted average shares of common stock outstanding - basic and diluted	90,956,521		64,510,456		4,809,533
Loss per common share - basic and diluted	$	(0.64)	$	(0.73)	$	(11.78)

For the years ended December 31, 2022, 2021, and 2020, the following potential shares were excluded from diluted EPS as the Company had a net loss in each period presented:


	Year ended December 31,
	2022	2021	2020
Stock options	6,268,485	8,148,853	11,603,131
Redeemable convertible preferred stock	—	—	72,225,916
Warrants	—	—	212,408
RSUs	7,101,096	2,867,799	—
ESPP	48,923	44,169	—
Total anti-dilutive common share equivalents	13,418,504	11,060,821	84,041,455