XML 39 R20.htm IDEA: XBRL DOCUMENT v3.24.0.1
Net Loss Per Share Attributable to Common Stockholders
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Net Loss Per Share Attributable to Common Stockholders Net Loss Per Share Attributable to Common Stockholders
Basic net loss per share is computed by dividing net loss by basic weighted-average shares outstanding during the period. Diluted net loss per share is computed by dividing net loss by diluted weighted-average shares outstanding, including potentially dilutive securities.
On July 12, 2021, the shares of Class B common stock that converted to Class A common stock were retired and will not be reissued by the Company. Prior to that date, the Company computed net loss per share using the two-class method required for multiple classes of common stock and participating securities. The rights of the holders of the Class A common stock and Class B common stock are identical, except with respect to voting and conversion. Accordingly, the Class A common stock and Class B common stock share equally in the Company’s net losses.
The following table presents the computation of basic and diluted net loss per share of common stock (in millions, except per share data):
Year ended December 31,
202320222021
Class A(1)
Class B(2)
Class A (1)
Class B(2)
Class A (1)
Class B(2)
(in thousands, except per share amounts)
Net loss attributable to common stockholders$(133,088)$— $(190,774)$— $(212,120)$(10,577)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted128,770 — 121,723 — 110,541 5,512 
Net loss per share attributable to common stockholders, basic and diluted$(1.03)$— $(1.57)$— (1.92)$(1.92)
__________
(1)Class A common stock includes the issuance of 12.9 million shares of Class A common stock issued by the Company in connection with the IPO and the shares issued in connection with the follow-on offering on May 26, 2020. It also includes shares issued upon the exercise of options and vesting of RSUs granted subsequent to the IPO, shares issued as part of the prior acquisitions, and converted Common B shares.
(2)Class B common stock includes, for all periods presented, common stock issued prior to the IPO and the conversion of all of the Company’s preferred stock into an aggregate of 53.6 million shares of the Company’s Class B common stock upon closing of the IPO. Some of these shares were previously converted into shares of Class A common stock. On July 12, 2021, all shares of Class B common stock were converted into shares of Class A common stock.
The following securities were excluded from the computation of diluted net loss per share of common stock for the periods presented as their effect would have been antidilutive:
Number of Shares
Year ended December 31,
202320222021
(in thousands)
Stock options2,710 2,443 4,369 
RSUs11,244 11,990 5,285 
Revest shares— — 336 
PSUs732 267 71 
MPSUs1,471 2,174 — 
Bonus PSUs1,572 1,777 — 
Shares issuable pursuant to the ESPP410 186 51 
Convertible senior notes (if-converted)3,370 7,338 9,229 
Total21,509 26,175 19,341