Pandora 2012 Annual Report Download - page 106
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Table of Contents
Pandora Media, Inc.
Notes to Consolidated Financial Statements - Continued
10. Net Loss Per Share
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.
Fiscal Year Ended January 31,
2010 2011 2012
(in thousands)
Numerator
Net loss $ (16,753) $ (1,764) $ (16,107)
Deemed dividend on Series D and Series E (1,443) — —
Accretion of redeemable convertible preferred stock (218) (300) (110)
Increase in cumulative dividends payable upon conversion or liquidation of redeemable convertible preferred stock (6,461) (8,978) (3,648)
Net loss attributable to common stockholders $ (24,875) $ (11,042) $ (19,865)
Fiscal Year Ended January 31,
2010 2011 2012
(in thousands)
Denominator
Weighted-average common shares outstanding used in computing basic and diluted net loss per share 6,482 10,761 105,955
Net loss per share, basic and diluted $ (3.84) $ (1.03) $ (0.19)
Net loss is increased by the cumulative dividends payable upon conversion or liquidation of redeemable convertible preferred shares earned each year
to arrive at net loss attributable to common stockholders.
The reversal of dividends on redeemable convertible preferred stock recorded on the statement of redeemable convertible preferred stock and
shareholders' deficit for the fiscal year ended January 31, 2011 reflects the reversal of previously recorded accretion of the redemption value of the
redeemable convertible preferred stock in connection with the issuance of Series G and the reversal of previously recorded incremental dividends recorded for
the portion of the cumulative dividends for which the Company did not have sufficient authorized shares of common stock as of January 31, 2010 while the
amount of dividends reflected in the net loss per share calculation above represents the total increase in cumulative dividends during the fiscal year ended
January 31, 2011.
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