NET LOSS PER SHARE |
|
Net
loss per share is computed using the weighted average number of shares of common stock outstanding less the number of shares subject
to repurchase.
The
following table sets forth the computation of basic and diluted net loss per share for the periods indicated (in thousands, except for
share data):
Schedule of computation of basic and diluted net loss per share |
|
|
|
|
|
|
|
|
|
|
|
Years Ended December 31, |
|
|
|
2020 |
|
|
2019 |
|
|
2018 |
|
Numerator: |
|
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(25,643 |
) |
|
$ |
(51,981 |
) |
|
$ |
(35,292 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Denominator – basic and diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding |
|
|
669,534 |
|
|
|
669,534 |
|
|
|
254,679 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share – basic and diluted |
|
$ |
(38.30 |
) |
|
$ |
(77.64 |
) |
|
$ |
(138.57 |
) |
The
following table sets forth the amounts excluded from the computation of diluted net loss per share as their effect was anti-dilutive:
Schedule of computation of diluted net loss per share |
|
|
|
|
|
|
|
|
|
|
Years Ended December 31, |
|
|
|
2020 |
|
|
2019 |
|
Stock options outstanding (a) |
|
|
958,782 |
|
|
|
888,621 |
|
Non-vested shares of restricted stock |
|
|
68,557 |
|
|
|
14,200 |
|
Preferred stock and warrants (b): |
|
|
|
|
|
|
|
|
Convertible Preferred Stock |
|
|
|
|
|
|
|
|
Series B |
|
|
— |
|
|
|
72,123 |
|
Series B-1 |
|
|
72,123 |
|
|
|
— |
|
Series C |
|
|
— |
|
|
|
416,667 |
|
Series C-1 |
|
|
416,667 |
|
|
|
— |
|
Series D |
|
|
1,080,993 |
|
|
|
1,450,993 |
|
Series D-1 |
|
|
325,203 |
|
|
|
325,203 |
|
Series D-2 |
|
|
370,000 |
|
|
|
— |
|
Senior Convertible Preferred Stock |
|
|
|
|
|
|
|
|
Series E |
|
|
615,231 |
|
|
|
615,231 |
|
Series E-1 |
|
|
393,511 |
|
|
|
393,511 |
|
Series F |
|
|
352,076 |
|
|
|
352,076 |
|
Series F-1 |
|
|
46,325 |
|
|
|
46,325 |
|
Series G |
|
|
740,987 |
|
|
|
— |
|
Series H |
|
|
168,288 |
|
|
|
— |
|
Warrants |
|
|
|
|
|
|
|
|
Series D and D-1 warrants |
|
|
365,854 |
|
|
|
365,854 |
|
Series H warrants |
|
|
139,428 |
|
|
|
— |
|
(a) |
If
the Company had reported net income, the calculation of these per share amounts would have
included the dilutive effect of these common stock equivalents using the treasury stock method
for stock options. |
(b) |
The
convertible preferred stock and warrants referred to in Note 14 were also excluded on an
as converted basis because their effect would have been anti-dilutive. |
|
NET LOSS PER SHARE |
Net loss per share is computed using
the weighted average number of shares of common stock outstanding less the number of shares subject to repurchase.
The following table sets forth the
computation of basic and diluted net loss per share for the periods indicated (in thousands, except share data):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule of basic and diluted net loss per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30,
|
|
|
Six Months Ended June 30,
|
|
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(10,418 |
) |
|
$ |
(11,053 |
) |
|
$ |
(23,967 |
) |
|
$ |
(24,068 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Denominator - basic and diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding |
|
|
670,043 |
|
|
|
669,534 |
|
|
|
669,839 |
|
|
|
669,534 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share - basic and diluted |
|
$ |
(15.55 |
) |
|
$ |
(16.51 |
) |
|
$ |
(35.78 |
) |
|
$ |
(35.95 |
) |
The following table sets forth the
amounts excluded from the computation of diluted net loss per share as their effect was anti-dilutive:
Schedule of anti-dilutive net loss per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
Stock options outstanding (a) |
|
|
1,018,125 |
|
|
|
980,946 |
|
|
|
1,018,125 |
|
|
|
980,946 |
|
Non-vested shares of restricted stock |
|
|
72,989 |
|
|
|
68,557 |
|
|
|
72,989 |
|
|
|
68,557 |
|
Preferred stock and warrants (b): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Convertible Preferred Stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series B |
|
|
— |
|
|
|
72,123 |
|
|
|
— |
|
|
|
72,123 |
|
Series B-1 |
|
|
72,123 |
|
|
|
— |
|
|
|
72,123 |
|
|
|
— |
|
Series C |
|
|
— |
|
|
|
416,667 |
|
|
|
— |
|
|
|
416,667 |
|
Series C-1 |
|
|
416,667 |
|
|
|
— |
|
|
|
416,667 |
|
|
|
— |
|
Series D |
|
|
1,080,993 |
|
|
|
1,450,993 |
|
|
|
1,080,993 |
|
|
|
1,450,993 |
|
Series D-1 |
|
|
325,203 |
|
|
|
325,203 |
|
|
|
325,203 |
|
|
|
325,203 |
|
Series D-2 |
|
|
370,000 |
|
|
|
— |
|
|
|
370,000 |
|
|
|
— |
|
Senior Convertible Preferred Stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series E |
|
|
615,231 |
|
|
|
615,231 |
|
|
|
615,231 |
|
|
|
615,231 |
|
Series E-1 |
|
|
393,511 |
|
|
|
393,511 |
|
|
|
393,511 |
|
|
|
393,511 |
|
Series F |
|
|
352,076 |
|
|
|
352,076 |
|
|
|
352,076 |
|
|
|
352,076 |
|
Series F-1 |
|
|
46,325 |
|
|
|
46,325 |
|
|
|
46,325 |
|
|
|
46,325 |
|
Series G |
|
|
740,987 |
|
|
|
464,566 |
|
|
|
740,987 |
|
|
|
464,566 |
|
Series H |
|
|
181,294 |
|
|
|
— |
|
|
|
181,294 |
|
|
|
— |
|
Warrants |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Series D and D-1 warrants |
|
|
162,602 |
|
|
|
585,624 |
|
|
|
162,602 |
|
|
|
585,624 |
|
Series H warrants |
|
|
145,931 |
|
|
|
— |
|
|
|
145,931 |
|
|
|
— |
|
|
(a) |
If the Company had reported net income, the calculation of these per share amounts would have included the dilutive effect of these common stock equivalents using the treasury stock method for stock options. |
|
(b) |
The convertible preferred stock and warrants referred to in Note [11] were also excluded on an as converted basis because their effect would have been anti-dilutive. |
|
|