Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
| August 22, 2012 (inception) to December 31, | Year Ended December 31, | Nine Months Ended September 30, | ||||||||||||||
| 2012 | 2013 | 2014 | 2015 | |||||||||||||
| (in thousands) | ||||||||||||||||
Net loss before income tax benefit (provision) | $ | (4,093 | ) | $ | (8,603 | ) | $ | (28,031 | ) | $ | (35,982 | ) | ||||
Ratio of earnings to fixed charges (1) | — | — | — | — | ||||||||||||
Deficiency of earnings to fixed charges (2) | $ | (4,093 | ) | $ | (8,603 | ) | $ | (28,031 | ) | $ | (35,982 | ) | ||||
| (1) | In each of the periods presented, earnings were not sufficient to cover fixed charges. |
| (2) | For purposes of this calculation, earnings consist of loss before income taxes and fixed charges. Fixed charges consists of interest costs (both expensed and capitalized); amortization of debt issuance costs and discount relating to any indebtedness; and an estimate of interest expense within rental expense. Fixed charges were de minimis in all periods presented and are excluded from the table above as all periods presented include a net loss. |
