Transition report pursuant to Rule 13a-10 or 15d-10

Common Stock and Net Loss Per Share

v2.4.0.8
Common Stock and Net Loss Per Share
11 Months Ended
Dec. 31, 2013
Common Stock and Net Loss Per Share  
Common Stock and Net Loss Per Share

11. Common Stock and Net Loss Per Share

        Each share of common stock has the right to one vote per share. The holders of common stock are also entitled to receive dividends as and when declared by our board of directors, whenever funds are legally available. These rights are subordinate to the dividend rights of holders of all classes of stock outstanding at the time.

        Basic net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potential shares of common stock, including stock options, convertible preferred stock warrants and redeemable convertible preferred stock, to the extent dilutive. Basic and diluted net loss per share was the same for each year presented as the inclusion of all potential common shares outstanding would have been anti-dilutive.

        The following table sets forth the computation of historical basic and diluted net loss per share.

 
  Twelve months
ended
January 31,
  Eleven months
ended
December 31,
 
 
  2012   2013   2013  
 
  (in thousands, except per share data)
 

Numerator:

                   

Net loss

  $ (16,107 ) $ (38,148 ) $ (27,017 )

Accretion of redeemable convertible preferred stock

    (110 )        

Increase in cumulative dividends payable upon conversion or liquidation of redeemable convertible preferred stock

    (3,648 )        
               

Net loss attributable to common stockholders

  $ (19,865 ) $ (38,148 ) $ (27,017 )
               
               

Denominator:

                   

Weighted-average common shares outstanding used in computing basic and diluted net loss per share

    105,955     168,294     180,968  
               

Net loss per share, basic and diluted

  $ (0.19 ) $ (0.23 ) $ (0.15 )
               
               

        Net loss was increased by the cumulative dividends payable upon conversion or liquidation of redeemable convertible preferred shares earned in the twelve months ended January 31, 2012 to arrive at net loss attributable to common stockholders. For the twelve months ended January 31, 2012 dividends were accrued up through the conversion at the close of the IPO.

        The following potential common shares were excluded from the computation of diluted net loss per share because including them would have been anti-dilutive:

 
  Twelve months
ended
January 31,
  Eleven months
ended
December 31,
 
 
  2012   2013   2013  
 
  (in thousands)
 

Options to purchase common stock

    34,811     26,103     22,708  

Warrants to purchase common stock

    155          

Restricted stock units

    1,427     5,512     10,366  
               

Total common stock equivalents

    36,393     31,615     33,074