| Net Loss Per Share |
11. Net Loss Per Share
For the year ended December 31, 2019, the Company had voting and non-voting common stock outstanding. Since the rights of the voting and non-voting common stock are identical, except with respect to voting, the undistributed losses of the Company have been allocated on a proportionate basis to the two classes. Diluted net loss per share is calculated using the if-converted method, which assumes conversion of all non-voting common stock to voting common stock.
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Voting common stock
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Non-voting common stock
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Basic net loss per share:
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Numerator
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Allocation of undistributed losses attributable to common stockholders
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$
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(17,693
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)
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$
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(4,576
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)
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Denominator
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Weighted average number of shares used in basic per share computation
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4,345,530
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1,123,861
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Net loss per share, basic
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$
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(4.07
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)
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$
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(4.07
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)
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Diluted net loss per share:
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Numerator
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Allocation of undistributed losses for basic computation
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$
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(17,693
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)
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$
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(4,576
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)
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Reallocation of undistributed losses as a result of conversion of
non-voting to voting common shares
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(4,576
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)
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—
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Allocation of undistributed losses
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$
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(22,269
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)
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$
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(4,576
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)
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Denominator
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Weighted average number of shares used in basic per share computation
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4,345,530
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1,123,861
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Add: Conversion of non-voting to voting common shares outstanding
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1,123,861
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—
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Weighted average number of shares used in diluted per share computation
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5,469,391
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1,123,861
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Net loss per share, diluted
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$
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(4.07
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)
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$
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(4.07
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)
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For the year ended December 31, 2018, basic and diluted net loss per share is:
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Common stock
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Basic and diluted net loss per share:
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Numerator
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Net loss attributable to common stockholders
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$
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(12,202
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)
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Denominator
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Weighted average number of shares used in basic and
diluted per share computation
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1,775,468
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Net loss per share, diluted
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$
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(6.87
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)
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The following outstanding potentially dilutive shares have been excluded from the calculation of diluted net loss per share, as their effect is anti-dilutive:
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For the Year Ended December 31,
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2019
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2018
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Convertible preferred stock
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—
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12,393,047
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Stock options to purchase common stock
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2,129,632
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971,353
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Non-vested founder stock
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1,388,977
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2,384,754
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Total
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3,518,609
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15,749,154
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