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Net Loss per Share | 3 Months Ended
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Mar. 31, 2021
Earnings Per Share [Abstract] |
Net Loss per Share | Net Loss per Share The following table summarizes the computation of basic and diluted net loss per share of our common stock for the three months ended March 31, 2021 and 2020:
| Three Months Ended March 31,
| 2021 |  | 2020
| (in thousands, except share and per share data)
Numerator: |  |  |
Net loss | $ | (29,845) |  |  | $ | (22,924) |
Denominator: |  |  |
Weighted-average common shares outstanding, basic and diluted | 52,904,881 |  |  | 50,127,310 |
Net loss per share, basic and diluted | $ | (0.56) |  |  | $ | (0.46) |
We intend to settle any conversion of our 2023 Notes, 2025 Notes and 2027 Notes in cash, shares, or a combination thereof. As a result of our adoption of ASU 2020-06 on January 1, 2021, the dilutive impact of the Notes for our calculation of diluted net income (loss) per share is considered using the if-converted method. For periods prior to our January 1, 2021 adoption of ASU 2020-06, we considered the impact of the Notes on our diluted net income (loss) per share calculation based on applying the treasury stock method as we had the ability, and intent, to settle any conversions of the Notes solely in cash at that time. For the three months ended March 31, 2021 and 2020, the shares underlying the Notes were not considered in the calculation of diluted net loss per share as the effect would have been anti-dilutive under each respective method. In connection with the issuance of the 2023 Notes, the 2025 Notes and the 2027 Notes, we entered into 2023 Capped Calls, 2025 Capped Calls and 2027 Capped Calls, which were not included for the purpose of calculating the number of diluted shares outstanding, as their effect would have been anti-dilutive. The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding for the respective periods below because they would have been anti-dilutive:
| Three Months Ended March 31,
| 2021 |  | 2020
Options to purchase common stock | 1,763,007 |  |  | 2,568,776 |
Unvested restricted stock units | 3,953,263 |  |  | 3,715,342 |
Shares to be issued under ESPP | 7,889 |  |  | 11,522 |
Convertible senior notes | 10,711,653 |  |  | 5,530,176 |
Total | 16,435,812 |  |  | 11,825,816 |

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