| Net Loss per Share |
12. Net Loss per Share
Diluted loss per share is the same as basic loss per share for all periods presented because the effects of potentially dilutive items were anti-dilutive given the Company’s net loss. The following securities have been excluded from the calculation of weighted average common shares outstanding because the effect is anti-dilutive:
|
|
|
Three Months Ended
March 31, |
|
|
|
|
2013 |
|
2014 |
|
|
Redeemable convertible preferred stock: |
|
|
|
|
|
|
Series A |
|
10,033,976 |
|
10,033,976 |
|
|
Series B |
|
5,057,901 |
|
5,057,901 |
|
|
Series C |
|
4,429,601 |
|
4,429,601 |
|
|
Series D |
|
3,979,730 |
|
3,979,730 |
|
|
Warrants to purchase Series D redeemable convertible preferred stock |
|
12,797 |
|
83,818 |
|
|
Stock options |
|
5,033,358 |
|
6,738,838 |
|
|
Restricted stock units |
|
— |
|
986,841 |
|
Basic and diluted net loss per share attributable to common stockholders is calculated as follows:
|
|
|
Three Months Ended
March 31, |
|
|
|
|
2013 |
|
2014 |
|
|
Numerator (in thousands): |
|
|
|
|
|
|
Net loss attributable to common stockholders |
|
$ |
(3,833 |
) |
$ |
(7,137 |
) |
|
Denominator: |
|
|
|
|
|
|
Weighted-average common shares outstanding, basic and diluted |
|
7,386,133 |
|
7,698,709 |
|
|
Net loss per share attributable to common stockholders, basic and diluted |
|
$ |
(0.52 |
) |
$ |
(0.93 |
) |
Pro Forma Net Loss per Share (unaudited)
The numerator and denominator used in computing pro forma net loss per share for the three-month period ended March 31, 2014 have been adjusted to assume the conversion of all outstanding shares of redeemable convertible preferred stock to common stock as of the beginning of the year and the reclassification of the outstanding Series D warrants to additional paid-in capital as of the beginning of the year.
|
|
|
Three Months Ended
March 31,
2014 |
|
|
Numerator (in thousands): |
|
|
|
|
Historical net loss attributable to common stockholders |
|
$ |
(7,137 |
) |
|
Accretion of deferred preferred stock offering costs |
|
87 |
|
|
Changes in the fair value of the warrant to purchase Series D redeemable convertible preferred stock |
|
688 |
|
|
Pro forma numerator for basic and diluted loss per share |
|
$ |
(6,362 |
) |
|
Denominator: |
|
|
|
|
Historical denominator for basic and diluted net loss per share weighted-average shares |
|
7,698,709 |
|
|
Plus: conversion of redeemable convertible preferred stock to common stock |
|
23,501,208 |
|
|
Pro forma denominator for basic and diluted net loss per share attributable to common stockholders |
|
31,199,917 |
|
|
Pro forma basic and diluted net loss per share attributable to common stockholders |
|
$ |
(0.20 |
) |
|