| Net Loss Per Share |
The following table shows the calculation of basic and diluted net loss per share for the three and six months ended June 30, 2023 and 2022:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2023 |
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2022 |
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2023 |
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2022 |
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Basic net loss per share: |
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Numerator: |
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Net loss (in thousands) |
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$ |
(160,325 |
) |
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$ |
(126,260 |
) |
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$ |
(307,153 |
) |
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$ |
(248,315 |
) |
Denominator: |
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Weighted average common stock outstanding —basic |
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59,769,640 |
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59,266,322 |
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59,722,147 |
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59,148,246 |
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Dilutive effect of shares of common stock equivalents resulting from common stock options and restricted stock units |
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— |
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— |
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— |
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— |
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Weighted average common stock outstanding —diluted |
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59,769,640 |
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59,266,322 |
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59,722,147 |
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59,148,246 |
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Net loss per share—basic and diluted |
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$ |
(2.68 |
) |
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$ |
(2.13 |
) |
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$ |
(5.14 |
) |
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$ |
(4.20 |
) |
The following table summarizes common stock equivalents outstanding that were excluded from the calculation of diluted net loss per share because including them would have been anti-dilutive as of June 30, 2023 and 2022:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2023 |
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2022 |
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2023 |
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2022 |
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Stock options |
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7,851,925 |
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6,999,816 |
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7,851,925 |
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6,999,816 |
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Restricted stock units |
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445,421 |
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243,159 |
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445,421 |
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243,159 |
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Employee stock purchase plan |
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87,938 |
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33,614 |
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87,938 |
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33,614 |
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8,385,284 |
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7,276,589 |
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8,385,284 |
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7,276,589 |
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Stock options and restricted stock units that are outstanding and contain performance-based vesting criteria for which the performance conditions have not been met are excluded from the calculation of common stock equivalents outstanding.
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