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Net Loss Per Share

9 Months Ended

Sep. 30, 2023

Net Loss Per Share

Net Loss Per Share

Note 5. Net Loss Per Share

We calculate basic and diluted net loss per share using the weighted average number of common shares outstanding during the periods presented. In periods of a net loss position, basic and diluted weighted average common shares are the same. For the diluted earnings per share calculation, we adjust the weighted average number of common shares outstanding to include dilutive stock options, unvested restricted stock units and shares associated with the conversion of the Company’s 0.75% Convertible Senior Notes due in 2026 (the “2026 Senior Notes”), the Company’s 3.0% Convertible Senior Notes due in 2025 (the “2025 Senior Notes” and together with the 2026 Senior Notes, the “Convertible Senior Notes”) and convertible preferred stock outstanding during the periods.

The following shows the amounts used in computing net loss per share (in thousands except per share data):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Nine Months Ended

​

​

​

September 30,

​

​

September 30,

​

2023

2022

2023

2022

Net loss

​

$

(13,269)

​

$

(5,316)

​

$

(37,198)

​

$

(27,897)

Paid-in-kind dividend on Series C convertible preferred stock

​

(2,000)

​

(2,000)

​

(6,000)

​

(6,000)

Net loss attributable to common shareholders

​

$

(15,269)

​

$

(7,316)

​

$

(43,198)

​

$

(33,897)

Weighted average common shares issued and outstanding - basic and diluted

​

​

48,904,102

​

​

48,520,696

​

​

48,660,646

​

​

49,148,558

Basic and diluted net loss per share

​

$

(0.31)

​

$

(0.15)

​

$

(0.89)

​

$

(0.69)

​

The following table sets forth the number of shares excluded from the computation of diluted loss per share, as their inclusion would have been anti-dilutive:

​

​	​	​	​	​	​	​	​	​
​	​	Three Months Ended			​	Nine Months Ended
​	​	September 30,			​	September 30,
​		2023		2022		2023		2022
Stock options		2,149,221		4,491,986		2,735,008		4,406,982
Restricted stock units	​	1,073,840	​	733,475	​	1,073,840	​	733,475
Series C convertible preferred stock	​	5,836,173	​	5,607,898	​	5,836,173	​	5,607,898
Conversion of 2026 Senior Notes	​	3,156,483	​	3,422,780	​	3,156,483	​	3,422,780
Conversion of 2025 Senior Notes	​	599,954	​	599,954	​	599,954	​	599,954
​		12,815,671		14,856,093		13,401,458		14,771,089

​

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- References

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-3

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