Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2021

Note 16: Net Income (Loss) Per Share

“Basic net income (loss) per share” is calculated using the weighted average number of common shares outstanding during the applicable period. “Diluted net income (loss) per share” is calculated using the weighted average number of common shares outstanding plus the number of dilutive potential common shares outstanding during the applicable period. Dilutive potential common shares consist of the incremental common shares issuable upon the exercise of outstanding stock options and the vesting of outstanding RSUs using the treasury stock method. Cash-settled restricted stock units are not settled in common shares and are therefore excluded from

dilutive potential common shares. Dilutive potential common shares are excluded from the calculation of diluted net income per share if their effect is antidilutive. Certain of our performance-based RSUs are considered contingently issuable shares and are excluded from the diluted weighted average common shares outstanding computation because the related performance-based criteria were not achieved as of the end of the reporting period.

The calculation of basic and diluted net income (loss) per share is as follows (in thousands, except per share amounts):


	Year Ended December 31,
	2021		2020		2019
Numerator:
Net income (loss)	$	7,757	$	(342,755)	$	48,148



Denominator:
Basic weighted average common shares outstanding	48,578		47,978		48,264
Dilutive potential common shares	948		—		1,018
Diluted weighted average common shares outstanding	49,526		47,978		49,282
Net income (loss) per share:
Basic	$	0.16	$	(7.14)	$	1.00
Diluted	$	0.16	$	(7.14)	$	0.98
Shares excluded (1)	1,218		2,936		1,150

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(1)Potential common shares were excluded from the calculation of diluted net income (loss) per share for these periods because their effect would have been anti-dilutive. For the year ended December 31, 2020, all potential common shares were excluded from the calculation of diluted net income (loss) per share due to the net loss recognized.