Net Loss Per Share

Basic net loss per share is calculated by dividing net loss by the weighted average number of shares of common stock outstanding during the period, and excludes any dilutive effects of employee stock-based awards and warrants. As the Company had net losses for the three and six months ended June 30, 2018 and 2017, all potentially issuable common shares were determined to be anti-dilutive.

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



	Three Months Ended						Six Months Ended
	June 30, 2018			June 30, 2017			June 30, 2018			June 30, 2017
Net loss	$	(2,042	)	$	(4,007	)	$	(2,649	)	$	(9,262	)
Weighted-average shares of common stock outstanding	57,903			54,723			57,453			54,208
Basic and diluted net loss per share	$	(0.04	)	$	(0.07	)	$	(0.05	)	$	(0.17	)

The following securities were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive (in thousands):



	June 30, 2018	June 30, 2017
Stock options	3,333	4,791
Restricted stock units	2,705	2,412
Common stock warrants	13	13
Total	6,051	7,216

The Company may settle the conversions of the Notes in cash, shares of the Company’s common stock or any combination thereof at its election. The maximum number of shares of the Company’s common stock issuable at the conversion price of $40.82 per share is expected to be 6.3 million shares. However, the Capped Call Transactions are expected to reduce the potential dilution of the Company’s common stock upon any conversion of Notes and/or offset the cash payments the Company is required to make in excess of the principal amount of the Notes. Under the Capped Call Transactions, the number of shares of common stock issuable at the conversion price of $62.80 is expected to be 4.1 million shares. For more information on the Notes and the Capped Call Transactions, see Note 6.