Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Net Income (Loss) Per Share

Basic net income (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of our common stock outstanding.

For the calculation of diluted net income per share, net income attributable to common stockholders for basic net income per share is adjusted by the effect of dilutive securities, including awards under our equity compensation plans and change in fair value of warrant liability. Diluted net income per share attributable to common stockholders is computed by dividing the resulting net income attributable to common stockholders by the weighted-average number of fully diluted common shares outstanding.

The numerators and denominators of the basic net income (loss) and diluted net income per share computations for our common stock are calculated as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator
Net income (loss) attributable to common stockholders, basic	$	17,594	$	14,293	$	20,259	$	(6,608)
Add: interest expense on convertible notes	$	1,274	$	1,268	$	-	$	-
Net income (loss) attributable to common stockholders, diluted	$	18,868	$	15,561	$	20,259	$	(6,608)
Denominator
Weighted average common stock outstanding, basic	131,133		128,988		130,746		128,515
Effect of dilutive shares:
Stock-based compensation plans	2,131		3,665		2,898		-
Convertible Notes (as converted to common stock)	21,543		21,543		-		-
Weighted average common stock outstanding, diluted	154,807		154,196		133,644		128,515
Net income (loss) per share attributable to common stockholders
Basic	$	0.13	$	0.11	$	0.15	$	(0.05)
Diluted	$	0.12	$	0.10	$	0.15	$	(0.05)

The following were excluded from the calculation of diluted net income (loss) per share as the effect of their inclusion would have been anti-dilutive (in thousands).

	Three months ended September 30,		Nine months ended September 30,
	2024	2023	2024	2023
Outstanding securities not included in diluted net income (loss) per share calculation:
Stock options and stock awards	8,987	5,605	8,172	15,304
Convertible Notes (as converted to common stock)	-	-	21,543	21,543
Total	8,987	5,605	29,715	36,847