10. Net Loss Per Share

For the three months ended March 31, 2018 and 2017, earnings was not allocated to participating securities in the calculation of basic and diluted earnings per share as there were net losses. For the three months ended March 31, 2018 and 2017, the net loss available to common shareholders was divided by the weighted-average number of common shares outstanding during the period to calculate diluted earnings per share. For the three months ended March 31, 2018 and 2017, the assumed exercise of stock options and assumed vesting of restricted stock and restricted stock units were not included in the computation of net loss per share as their effect would have been anti-dilutive.

 

The following presents a reconciliation of the numerator and denominator used in the calculation of basic net loss per share and a reconciliation of the numerator and denominator used in the calculation of diluted net loss per share (in thousands, except share and per share data):

 

		Three Months Ended March 31,
		2018				2017
Numerator:
Net loss, as reported		$	(1,199	)		$	(1,075	)
Less: net loss attributable to participating securities			—				—
Net loss available to common shareholders—basic and diluted		$	(1,199	)		$	(1,075	)
Denominator:
Weighted-average shares of common stock outstanding			41,846,619				41,469,616
Less: weighted-average shares of unvested restricted common stock outstanding			(1,840,830	)			(1,993,177	)
Weighted-average number of common shares used in computing basic and diluted net loss per common share			40,005,789				39,476,439
Net loss per share applicable to common shareholders—basic and diluted		$	(0.03	)		$	(0.03	)

The following common share equivalents have been excluded from the computation of diluted weighted-average shares outstanding, as their effect would have been anti-dilutive:

 

		Three Months Ended March 31,
		2018				2017
Options			620,312				952,422
Unvested restricted common stock			685,719				551,499
Unvested restricted stock units			64,024				59,582