Net Loss Per Share Available to Common Stockholders (“EPS”)

12 Months Ended

Dec. 31, 2020

Net Loss Per Share Available to Common Stockholders (“EPS”)

The Company calculates basic and diluted net loss per share available to common stockholders in conformity with the two-class method required for companies with participating securities. See Note 2.

Computation of EPS for the year ended December 31, 2020 and 2019 excludes the dilutive effect of 4,218,278 and 5,170,976 shares issuable under stock options, respectively, and 275,989 and 149,004 RSUs, respectively, because the Company incurred a net loss and their inclusion would have been antidilutive. Computation of EPS for the year ended December 31, 2020 and 2019 also excludes adjustments under the two-class method relating to a liability classified, share-settled obligation to an executive officer to deliver a variable number of shares based on a fixed monetary amount because the shares to be delivered are not participating securities as they do not have voting rights and are not entitled to participate in dividends until they are issued. Computation of EPS for the year ended December 31, 2018 excludes the dilutive effect of 5,120,293 shares issuable under stock options because the Company incurred a net loss and their inclusion would have been antidilutive.


(in thousands, except share and per share amounts)	Year Ended December 31,
	2020		2019		2018
Numerator:
Net loss available to common stockholders	$	(52,752)	$	(12,443)	$	(29,886)
Denominator:
Weighted average common shares outstanding—basic	62,290,445		42,274,777		6,287,172
Dilutive effect of stock equivalents resulting from stock options, RSUs, common stock warrants, preferred stock warrants and convertible preferred stock (as converted)	—		—		—
Weighted average common shares outstanding—diluted	62,290,445		42,274,777		6,287,172
Net loss per share available to common stockholders—basic and diluted	$	(0.85)	$	(0.29)	$	(4.75)

The following outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share available to common stockholders for the periods presented because the impact of including them would have been antidilutive:


	Year Ended December 31,
	2020	2019	2018
Options to purchase common stock	4,218,278	5,170,976	—
Restricted stock units	275,989	149,004	—
Convertible preferred stock (as converted)	—	—	39,953,983
Preferred stock warrants	—	—	160,767
Total	4,494,267	5,319,980	40,114,750