Net Loss Per Share (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Earnings Per Share [Abstract]    
Schedule of Basic and Diluted Loss Per Share
Basic and diluted net loss per share attributable to common stockholders was calculated as follows:
 
   
Three Months Ended March 31,
 
   
2021
   
2020
 
   
(dollars in thousands)
 
Net loss
  $(48,417)   $(28,162) 
Net loss attributable to common stockholders
  $(48,417)   $(28,162) 
Basic and diluted weighted average number of common shares and common share equivalents outstanding
 
(1)
   376,170,545    88,330,996 
  
 
 
   
 
 
 
Net loss per share attributable to common stockholders—basic and diluted
  $(0.13)   $(0.32) 
  
 
 
   
 
 
 
 
(1)
  
  
Prior period results have been adjusted to reflect the exchange of Legacy Clover’s common stock for Clover Class B Common Stock at an exchange ratio of approximately 2.0681 in January 2021 as a result of the Business Combination. See Note 3, “Business combination,” for details.
Basic and diluted net loss per share attributable to common stockholders, after reverse capitalization, was calculated as follows
(1)
:
 
   
Year ended December 31,
 
   
2020
   
2019
 
Net loss
  $(136,392)   $(363,737) 
Net loss attributable to common stockholders
  $(136,392)   $(363,737) 
Weighted average common shares outstanding—basic and diluted
   88,691,582    87,829,419 
  
 
 
   
 
 
 
Net loss per share attributable to common stockholders— basic and diluted
  $(1.54)   $(4.14) 
  
 
 
   
 
 
 
 
(1)
  
  
Amounts in the above table have been adjusted to reflect the exchange of Legacy Clover’s common stock at an exchange ratio of approximately 2.0681 in January 2021 as a result of the application of reverse capitalization. See Note 3, “Reverse Capitalization,” for details.
Schedule of Antidilutive Securities Excluded from Diluted Net Loss Per Share The Corporation excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an
 
anti-dilutive
 
effect:
   
Three Months Ended March 31,
 
   
2021
   
2020
 
Options to purchase common stock
 
(1)
   37,409,124    36,353,061 
RSUs
   16,748,379    —   
Convertible preferred stock (as converted to common stock)
 
(1)
   —      139,444,346 
Warrants to purchase common stock (as converted to common stock)
 
(1)
   38,533,271    4,884,132 
Warrants to purchase convertible preferred stock (as converted to common stock)
 
(1)
   —      2,618,770 
  
 
 
   
 
 
 
   92,690,774    183,300,309 
  
 
 
   
 
 
 
 
(1)
  
  
Prior period results have been adjusted to reflect the exchange of Legacy Clover’s common stock for Clover Class B Common Stock at an exchange ratio of approximately 2.0681 in January 2021 as a result of the Business Combination. See Note 3, “Business combination,” for details.
The Corporation’s potentially dilutive securities, which include stock options, preferred stock and warrants to purchase shares of preferred stock, have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The Corporation excluded the following potential common shares, presented based on amounts outstanding at each period end, after reverse capitalization, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an
 
anti-dilutive
 
effect
(1)
:​​​​​​​
 
   
Year ended December 31,
 
   
2020
   
2019
 
Options to purchase common stock
   36,557,759    24,344,848 
Convertible preferred stock (as converted to common stock)
   139,444,346    139,444,346 
Warrants to purchase common stock (as converted to common stock)
   7,502,902    4,884,132 
Warrants to purchase convertible preferred stock (as converted to common stock)
   —      2,618,770 
  
 
 
   
 
 
 
   183,505,007    171,292,096 
  
 
 
   
 
 
 
 
(1)
  
  
Amounts in the above table have been adjusted to reflect the exchange of Legacy Clover’s common stock at an exchange ratio of approximately 2.0681 in January 2021 as a result of the application of reverse capitalization. See Note 3, “Reverse Capitalization,” for details.