Net Loss Per Share

3 Months Ended

Mar. 31, 2023

Note 4—Net Loss Per Share

Our potentially dilutive securities include potential common shares related to our stock options, warrants, RSUs and unsecured convertible senior notes. Diluted earnings per share (“Diluted EPS”) considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect. Diluted EPS excludes the impact of potential common shares related to our stock options in periods in which the option exercise price is greater than the average market price of our common stock for the period.

Potentially dilutive securities excluded from Diluted EPS are as follows:


	Three Months Ended
	March 31,
	2023	2022
2026 Notes convertible to common stock ⁽¹⁾	12,172,008	12,172,008
2023 Notes convertible to common stock ⁽¹⁾	4,941,739	4,941,739
Outstanding options to purchase common stock	17,454	4,429
Outstanding restricted stock units	92,250	222,000
Total potentially dilutive shares excluded from net loss per share	17,223,451	17,340,176

(1)The 2023 Notes and 2026 Notes (defined below) are subject to capped call arrangements that potentially reduce the dilutive effect as described in “Note 7 — Unsecured Convertible Senior Notes.” Any potential impact of the capped call arrangements is excluded from this table.