EXHIBIT 11.1 AUTO-BY-TEL CORPORATION AND SUBSIDIARIES EXHIBIT 11.1--STATEMENT RE: COMPUTATION OF LOSS PER SHARE (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) INCEPTION (JANUARY 31, 1995) TO YEAR ENDED DECEMBER 31, DECEMBER 31, 1995 1996 ------------ ------------ Net loss............................................. $(1,030,000) $(6,035,000) =========== =========== Shares used in computing loss per share: Weighted average common shares outstanding......... 12,406,816 12,406,816 Net effect of Convertible Preferred Stock--using the as-converted method........................... 1,063,396 1,593,427 Net effect of stock options issued at less than the IPO price within twelve months, based on the treasury stock method............................. 1,792,050 1,792,050 ----------- ----------- 15,262,262 15,792,293 =========== =========== Net loss per common and equivalent share............. $ (0.07) $ (0.38) =========== ===========