Enom 2010 Annual Report Download - page 144
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Table of Contents
Demand Media, Inc. and Subsidiaries
Notes to Consolidated Financial Statements (Continued)
(In thousands, except per share amounts)
20. Net Loss Per Share
The following table sets forth the computation of basic and diluted net loss per share of common stock:
Year ended December 31,
2008 2009 2010
Numerator:
Net loss $(14,903)$(22,471)$ (5,325)
Cumulative preferred stock dividends (28,209) (30,848) (33,251)
Net loss attributable to common stockholders $(43,112)$(53,319)$(38,576)
Denominator:
Weighted average common shares outstanding 14,266 14,554 15,002
Weighted average unvested restricted stock awards (6,082) (3,395) (1,494)
Weighted average common shares outstanding—basic 8,184 11,159 13,508
Dilutive effect of stock options, warrants and convertible
preferred stock — — —
Weighted average common shares outstanding—diluted 8,184 11,159 13,508
Net loss per share—basic and diluted $ (5.27)$ (4.78)$ (2.86)
As of each period end, the following common equivalent shares were excluded from the calculation of the Company's net loss per share as their inclusion
would have been antidilutive:
Year ended December 31,
2008 2009 2010
Stock options 8,023 11,771 19,065
Unvested RSPRs 4,683 2,038 1,302
Convertible Series A Preferred Stock 32,667 32,667 32,667
Convertible Series B Preferred Stock 4,732 4,732 4,732
Convertible Series C Preferred Stock 13,024 13,024 13,024
Convertible Series D Preferred Stock 11,250 11,250 11,250
Convertible Series C Preferred Stock Warrants 63 63 63
Common Stock Warrants 1,374 1,374 1,749
21. Subsequent Events
The Company completed its initial public offering on January 31, 2011 whereby it received proceeds, net of underwriter discounts but before deducting
offering expenses, of $81,817 from the issuance of 5,175 shares of common stock. As a result of the initial public offering, all shares of the Company's
convertible preferred stock converted into 61,672 shares of common stock and warrants to purchase common stock or convertible preferred stock net
exercised into 483 shares of common stock. The initial public offering also triggered the commencement of vesting for certain stock options and restricted
stock awards as described in Note 13—Share-based Compensation Plans and Awards.
F-48