Annual report pursuant to Section 13 and 15(d)

Net Loss Per Share

v3.3.1.900
Net Loss Per Share
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Net Loss Per Share
Net Loss Per Share
Net loss per share is computed as required by the accounting standard for earnings per share, or EPS. Basic EPS is calculated by dividing net loss by the weighted-average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted EPS is computed by dividing net income by the weighted-average number of common shares outstanding for the period and the weighted-average number of dilutive common stock equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, common stock options, restricted stock units and restricted stock awards are considered to be common stock equivalents and are only included in the calculation of diluted EPS when their effect is dilutive. The Company did not have any dilutive shares during the years-ended December 31, 2015, 2014 and 2013.
The Company has two classes of stock outstanding, Class A common stock and Class B common stock. The economic rights of the Class A common stock and Class B common stock, including rights in connection with dividends and payments upon a liquidation or merger are identical, and the Class A common stock and Class B common stock will be treated equally, identically and ratably, unless differential treatment is approved by the Class A common stock and Class B common stock, each voting separately as a class. The Company computes basic earnings per share by dividing net loss by the weighted average number of shares of Class A and Class B common stock outstanding during the period. For diluted earnings per share, the Company divides net loss by the sum of the weighted average number of shares of Class A and Class B common stock outstanding and the potential number of shares of dilutive Class A and Class B common stock outstanding during the period.
 
Years Ended December 31,
 
2015
 
2014
 
2013
 
(in thousands, except per share amounts)
Numerator:
 
 
 
 
 
Net loss
$
(42,331
)
 
$
(7,041
)
 
$
(12,733
)
Denominator:
 
 
 
 
 
Weighted average common shares outstanding—basic
53,378

 
36,472

 
34,012

Dilutive common stock equivalents
—

 
—

 
—

Weighted average common shares outstanding—diluted
53,378

 
36,472

 
34,012

Net loss per share:
 
 
 
 
 
Basic
$
(0.79
)
 
$
(0.19
)
 
$
(0.37
)
Diluted
$
(0.79
)
 
$
(0.19
)
 
$
(0.37
)

The Company excluded 3.0 million, 3.1 million and 3.5 million common stock equivalents for the twelve months ended December 31, 2015, 2014 and 2013, respectively, resulting from outstanding equity awards for the calculation of diluted net loss per share due to their anti-dilutive nature.