Net Loss Per Share Attributable to Common Stockholders

9 Months Ended

Sep. 30, 2021

Net Loss Per Share Attributable to Common Stockholders

The Company presents basic and diluted net loss per share attributable to common stockholders in conformity with the two-class method required for participating securities. Prior to the completion of the IPO, all series of redeemable convertible preferred stock were considered participating securities. Immediately prior to the completion of the IPO, all shares of redeemable convertible preferred stock then outstanding were converted into shares of Class B common stock. The Company has not allocated net loss attributable to common stockholders to redeemable convertible preferred stock in any period presented because the holders of its redeemable convertible preferred stock were not contractually obligated to share in losses.

The Company calculates basic net loss per share attributable to common stockholders by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share attributable to common stockholders gives effect to all potential shares of common stock, including common stock issuable upon conversion of redeemable convertible preferred stock and redeemable convertible preferred stock warrants, stock options, RSUs and common stock warrants to the extent these are dilutive.

The Company calculated basic and diluted net loss per share attributable to common stockholders as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator


Net loss attributable to Class A and Class B common stockholders	$	(45,730)	$	(12,298)	$	(127,122)	$	(33,935)
Denominator
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted	538,896,513		124,225,475		302,967,155		120,931,681
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted	$	(0.08)	$	(0.10)	$	(0.42)	$	(0.28)

Basic net loss per share is the same as diluted net loss per share because the Company reported a net loss for the three and nine months ended September 30, 2021 and 2020.

The rights, including the liquidation and dividend rights, of the holders of Class A common stock and Class B common stock are identical, except with respect to voting. As the liquidation and dividend rights are identical for Class A common stock and Class B common stock, the undistributed earnings are allocated on a proportionate basis and the resulting loss per share will, therefore, be the same for both Class A common stock and Class B common stock on an individual or combined basis.

Potentially dilutive securities that were excluded from the computation of diluted net loss per share because including them would have had an anti-dilutive effect were as follows:


	As of September 30,
	2021	2020
Redeemable convertible preferred stock, all series	—	351,844,340
Warrants to purchase redeemable convertible preferred stock	—	203,610
Warrants to purchase Class B common stock	1,900,000	1,419,528
Stock options outstanding, including early exercise of options	46,056,552	24,908,901
Unvested RSUs outstanding	9,216,185	3,784,845
Total	57,172,737	382,161,224