Basic net loss per share is determined by dividing net loss by the weighted average shares outstanding for the period. We analyze the potential dilutive effect of stock options, unvested restricted stock, RSUs, our ESPP, and warrants to purchase common stock, during periods we generate net income, or when income is recognized related to changes in fair value of warrant liabilities.

During the three months ended September 30, 2023 and nine months ended September 30, 2022, we recorded a gain on fair value remeasurement of warrant liabilities which was added back to net loss to adjust for the dilutive impact of the warrants. We adjusted the weighted average shares outstanding for the incremental dilutive shares using the treasury stock method.

During the nine months ended September 30, 2023, we recorded a loss on fair value remeasurement of warrants to purchase common stock which are excluded from the computation of diluted net loss per share due to their anti-dilutive impact. During the three months ended September 30, 2022, the exercise price for the warrants to purchase common stock exceeded the average trading price of our Class A common stock for the period, and therefore the warrants were anti-dilutive and excluded from the computation of diluted net loss per share.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the three and nine months ended September 30, 2023 and 2022:


(in millions, except share and per share amounts)	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Numerator:
Net loss, basic	$	(31)	$	(98)	$	(210)	$	(175)
Gain on change in fair value of warrant liability	18		—		—		102
Net loss, diluted	$	(49)	$	(98)	$	(210)	$	(277)
Denominator:
Weighted average shares of common stock outstanding—basic	535,219,532		513,719,867		529,535,807		509,507,937
Effect of dilutive securities:
Warrants to purchase Class B common stock	1,315,400		—		—		492,415
Weighted average shares of common stock outstanding—diluted	536,534,932		513,719,867		529,535,807		510,000,352
Net loss per share, basic	$	(0.06)	$	(0.19)	$	(0.40)	$	(0.34)
Net loss per share, diluted	$	(0.09)	$	(0.19)	$	(0.40)	$	(0.54)

We excluded the following potential shares of common stock from the computation of diluted net loss per share because including them would have an anti-dilutive effect for the three and nine months ended September 30, 2023 and 2022:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Options to purchase Class A common stock and Class B common stock	49,319,413	55,688,962	49,319,413	55,688,962
Unvested restricted stock	881,133	3,309,223	881,133	3,309,223
Unvested restricted stock units	35,221,700	28,848,298	35,221,700	28,848,298

Warrants to purchase Class B common stock	—	6,902,633	6,790,080	—
Employee Stock Purchase Plan	62,538	24,588	62,538	24,588
	85,484,784	94,773,704	92,274,864	87,871,071