NET LOSS PER SHARE

12 Months Ended

Dec. 31, 2023

Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed using the weighted-average number of shares of common stock outstanding and potential shares assuming the dilutive effect of the convertible senior notes, using the if-converted method, and outstanding equity awards using the treasury stock method.

The following table presents the calculation of the basic and diluted net loss per share amounts presented in the consolidated statements of operations and comprehensive loss (in thousands, except per share amounts):


	Years Ended December 31,
	2023		2022		2021
Numerator:
Net loss	$	(306,735)	$	(314,248)	$	(181,223)

Denominator:
Basic
Weighted-average shares used in computing basic net loss per share	253,629		224,550		204,136
Basic net loss per share	$	(1.21)	$	(1.40)	$	(0.89)
Diluted




Weighted-average shares used in computing diluted net loss per share	253,629		224,550		204,136
Diluted net loss per share	$	(1.21)	$	(1.40)	$	(0.89)

The following shares issuable upon conversion of the convertible senior notes and outstanding equity awards were excluded from the computation of diluted net loss per share for the periods presented because the effect of including such shares would have been antidilutive (in thousands):


	Years Ended December 31,
(in thousands)	2023	2022	2021
Shares issuable upon conversion of convertible senior notes	31,063	20,690	20,690
Equity awards	27,246	27,291	21,419

As described in Note 2. Business Acquisitions, the contingently issuable shares would be due upon the achievement of a milestone. See Note 10. Stockholders’ Equity for detailed information on RSUs with time-based vesting and RSUs with performance-based vesting.