Post-effective amendment to a registration statement that is not immediately effective upon filing

NET LOSS PER SHARE

v3.21.1
NET LOSS PER SHARE
3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
NET LOSS PER SHARE    
NET LOSS PER SHARE

21. NET LOSS PER SHARE

The Company computes basic loss per share using net loss attributable to Common Stockholders and the weighted-average number of Common Stock shares outstanding during each period. Diluted earnings per share include shares issuable upon exercise of outstanding stock options and stock-based awards where the conversion of such instruments would be dilutive.

Three Months Ended March 31, 

(in thousands, except per share amounts)

    

2021

    

2020

Numerator for basic and diluted net loss per share:

  

 

  

Net loss attributable to Common Stockholders

$

(59,108)

$

(21,804)

Denominator for basic and diluted net loss per share:

 

  

 

  

Weighted-average shares

 

238,244

 

156,250

Net loss per share—Basic and Diluted

$

(0.25)

$

(0.14)

The Company’s potential dilutive securities, which include outstanding Common Stock options, unvested restricted stock units, unvested restricted stock awards and outstanding Common Stock warrants, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The Company excluded the following potential common shares, presented based on amounts outstanding as of March 31, 2021 and 2020, from the computation of diluted net loss per share attributable to common stockholders because including them would have an anti-dilutive effect (in thousands):

Three Months Ended March 31, 

2021

    

2020

Common Stock options outstanding

19,378

12,964

Unvested restricted stock units outstanding

918

Unvested restricted stock awards outstanding

224

3,142

Common Stock warrants outstanding

578

Total shares

20,520

16,684

20. NET LOSS PER SHARE

The Company computes basic loss per share using net loss attributable to Common Stockholders and the weighted-average number of Common Stock shares outstanding during each period. Diluted earnings per share include shares issuable upon exercise of outstanding stock options and stock-based awards where the conversion of such instruments would be dilutive.

Years Ended December 31, 

    

2020

    

2019

(in thousands, except per share amounts)

(as restated)

Numerator for basic and diluted net loss per share:

  

 

  

Net loss attributable to Common Stockholders

$

(34,015)

$

(103,596)

Denominator for basic and diluted net loss per share:

 

 

Weighted average shares

 

157,906

 

150,002

Net loss per share—Basic and Diluted

$

(0.22)

$

(0.69)

The Company’s potential dilutive securities, which include outstanding Common Stock options, unvested restricted stock units, unvested restricted stock awards, outstanding Common Stock warrants, and Trine Founder Shares held in escrow, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The Company excluded the following potential common shares, presented based on amounts outstanding as of December 31, 2020 and 2019, from the computation of diluted net loss per share attributable to common stockholders because including them would have an anti-dilutive effect (in thousands):

Years Ended December 31, 

2020

    

2019

Common Stock options outstanding

19,553

18,072

Unvested restricted stock units outstanding

683

Unvested restricted stock awards outstanding

279

5,587

Common Stock warrants outstanding

25,010

634

Unvested Trine Founder Shares, held in escrow

1,851

Total shares

47,376

24,293