Exhibit 12.1
STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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| For the Year Ended December 31, |
| Nine Months |
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(in thousands) |
| 2011 |
| 2012 |
| 2013 |
| 2014 |
| 2015 |
| 2016 |
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Earnings: |
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Loss before provision for income taxes |
| $ | (19,608 | ) | $ | (75,101 | ) | $ | (24,477 | ) | $ | (47,789 | ) | $ | (64,305 | ) | $ | (33,261 | ) |
Add: |
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Fixed charges (calculated below) |
| 609 |
| 4,167 |
| 2,883 |
| 1,313 |
| 4,509 |
| 3,844 |
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Amortization of capitalized interest |
| — |
| — |
| — |
| — |
| 24 |
| 111 |
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Less: |
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Capitalized interest |
| — |
| — |
| — |
| — |
| (1,974 | ) | — |
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Total loss |
| $ | (18,999 | ) | $ | (70,934 | ) | $ | (21,594 | ) | $ | (46,476 | ) | $ | (61,746 | ) | $ | (29,306 | ) |
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Fixed Charges: |
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Interest expense |
| $ | 66 |
| $ | 3,359 |
| $ | 1,988 |
| $ | 380 |
| $ | 443 |
| $ | 1,885 |
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Capitalized interest |
| — |
| — |
| — |
| — |
| 1,974 |
| — |
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Estimated interest portion of rent expense (1) |
| 543 |
| 808 |
| 895 |
| 933 |
| 2,092 |
| 1,959 |
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Total fixed charges |
| $ | 609 |
| $ | 4,167 |
| $ | 2,883 |
| $ | 1,313 |
| $ | 4,509 |
| $ | 3,844 |
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Ratio of earnings to fixed charges |
| n/a |
| n/a |
| n/a |
| n/a |
| n/a |
| n/a |
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Earnings required to cover fixed charges |
| $ | 19,608 |
| $ | 75,101 |
| $ | 24,477 |
| $ | 47,789 |
| $ | 66,255 |
| $ | 33,150 |
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(1) Represents the estimated portion of rent expense that is considered by the Company to be representative of the interest inherent in such rent expense, which approximates one-third of the related total rent expense.