Three months ended September 30,

Nine months ended September 30,

2023

2022

2023

2022

(in thousands, except per share amounts)

Numerator:

Net income (loss)

$

24,574

$

15,041

$

(52,005)

$

38,026

Interest expense associated with convertible notes

513

2,549

—

7,639

Net income (loss) available to common shareholders

$

25,087

$

17,590

$

(52,005)

$

45,665

Denominator:

Basic weighted average shares outstanding

55,352

49,887

52,978

49,831

Effect of potentially dilutive share-based awards

1,391

801

—

796

Dilutive effect of convertible notes

2,893

14,463

—

14,463

Diluted weighted average shares outstanding

59,636

65,151

52,978

65,090

Net income per common share:

Basic

$

0.44

$

0.30

$

(0.98)

$

0.76

Diluted

$

0.42

$

0.27

$

(0.98)

$

0.70

Common share equivalents excluded from the diluted weighted average shares outstanding since the Company incurred a net loss and their effect would be antidilutive

N/A

873

N/A

Potentially dilutive shares excluded from the diluted calculation as their effect would be antidilutive

112

1,016

737

751

Potential shares to be issued for settlement of the convertible notes excluded from the diluted calculation as their effect would be antidilutive

—

504

8,790

504