Exhibit 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges and Ratio of Combined Fixed Charges and Preferred Stock Dividends
| Year ended December 31, | Three Months ended March 31, | |||||||||||||||
| 2015 | 2016 | 2017 | 2018 | |||||||||||||
(in thousands) | ||||||||||||||||
Fixed charges: | ||||||||||||||||
Interest expense | $ | 3,452 | $ | 5,951 | $ | 7,247 | $ | 1,866 | ||||||||
Estimated interest within rental expense | — | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total fixed charges | $ | 3,452 | $ | 5,951 | $ | 7,247 | $ | 1,866 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Earnings available for fixed charges: | ||||||||||||||||
Pre-tax income (loss) | $ | (44,994 | ) | $ | (50,636 | ) | $ | (72,176 | ) | $ | (4,814 | ) | ||||
Add fixed charges | 3,452 | 5,951 | 7,247 | $ | 1,866 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Total earnings available for fixed charges | $ | (41,542 | ) | $ | (44,685 | ) | $ | (64,929 | ) | (2,948 | ) | |||||
|
|
|
|
|
|
|
| |||||||||
Ratio of earnings to fixed charges | N/A | (1) | N/A | (1) | N/A | (1) | N/A | (1) | ||||||||
Fixed charges: | ||||||||||||||||
Interest expense | $ | 3,452 | $ | 5,951 | $ | 7,247 | $ | 1,866 | ||||||||
Estimated interest within rental expense | — | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
| 3,452 | 5,951 | 7,247 | 1,866 | |||||||||||||
Total fixed charges | ||||||||||||||||
Preferred stock dividendspre-tax income requirements | — | — | — | — | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Combined fixed charges and preferred stock dividends | $ | 3,452 | $ | 5,951 | $ | 7,247 | $ | 1,866 | ||||||||
|
|
|
|
|
|
|
| |||||||||
Earnings available for fixed charges: | ||||||||||||||||
Pre-tax income (loss) | $ | (44,994 | ) | $ | (50,636 | ) | $ | (72,176 | ) | $ | (4,814 | ) | ||||
Add fixed charges | 3,452 | 5,951 | 7,247 | $ | 1,866 | |||||||||||
|
|
|
|
|
|
|
| |||||||||
Total earnings available for fixed charges | $ | (41,542 | ) | $ | (44,685 | ) | $ | (64,929 | ) | (2,948 | ) | |||||
|
|
|
|
|
|
|
| |||||||||
Ratio of earnings to fixed charges and preferred stock dividends | N/A | (1) | N/A | (1) | N/A | (1) | N/A | (1) | ||||||||
| (1) | We did not record earnings for the periods indicated in the table above. Accordingly, our earnings were insufficient to cover fixed charges for such periods and we are unable to disclose a ratio of earnings to fixed charges or a ratio of earnings to combined fixed charges for such periods. |
