Exhibit 12.1
STATEMENT REGARDING COMPUTATION OF RATIOS
| Year Ended December 31, | For the six month period ended June 30, | |||||||||||||||||||||||
| (in thousands except for ratio) | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Pretax (loss)/income | $ | (34,549 | ) | $ | (113,398 | ) | $ | 105,467 | $ | (57,583 | ) | $ | (58,364 | ) | $ | (40,311 | ) | |||||||
Add fixed charges | $ | 46 | $ | 7,445 | $ | 6,874 | $ | 2,686 | $ | 2,685 | $ | 1,340 | ||||||||||||
Total earnings | $ | (34,503 | ) | $ | (105,953 | ) | $ | 112,341 | $ | (54,897 | ) | $ | (55,679 | ) | $ | (38,971 | ) | |||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 46 | $ | 6,424 | $ | 5,620 | $ | 2,070 | $ | 2,070 | $ | 1,035 | ||||||||||||
Amortization of debt discount | $ | — | $ | 1,021 | 1,254 | 616 | 615 | 305 | ||||||||||||||||
Total fixed charges | $ | 46 | $ | 7,445 | $ | 6,874 | $ | 2,686 | $ | 2,685 | $ | 1,340 | ||||||||||||
Ratio of earnings to fixed charges | N/A | N/A | 16.3x | N/A | N/A | N/A | ||||||||||||||||||
Deficiency of earnings available to cover fixed charges | $ | (34,549 | ) | $ | (113,398 | ) | N/A | $ | (57,583 | ) | $ | (58,364 | ) | $ | (40,311 | ) | ||||||||
