Net loss per share
Basic and diluted net loss per share was calculated as follows:
Year Ended December 31,
Basic and diluted loss per share202320242025
Net loss$(146,398)$(162,857)$(146,412)
Weighted-average common shares outstanding289,166,486294,327,532298,707,082
Net loss per share - basic and diluted$(0.51)$(0.55)$(0.49)
The Company’s potentially dilutive securities, which include stock options and restricted share units (“RSUs”), have been excluded from the computation of diluted net loss per share for the years ended December 31, 2023, 2024, and 2025 as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of common shares
outstanding for the years ended December 31, 2023, 2024, and 2025 used to calculate both basic and diluted net loss per share is the same.
The Company excluded 50,087,088, 58,251,724, and 70,922,117 potential common shares for the years ended December 31, 2023, 2024, and 2025, respectively, from the computation of diluted net loss per share because including them would have had an anti-dilutive effect.

Historical Timeline

Fiscal YearFiled
2025Feb 24, 2026Showing above
2022Feb 21, 2023

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.