Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2022

Net Income (Loss) Per Share

Net Income (Loss) Per Share

Note 4—Net Income (Loss) Per Share

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share (“Diluted EPS”) is computed by dividing net income (loss) by the weighted average number of common shares and potentially dilutive common shares outstanding during the period. Our potentially dilutive securities include common shares related to our stock options, warrants, RSUs and unsecured convertible senior notes calculated using the treasury stock method. In periods where we have a net loss from continuing operations but overall net income, we do not compute Diluted EPS. Potentially dilutive securities excluded from Diluted EPS are as follows:

	Year Ended December 31,
	2022	2021	2020
2026 Notes convertible to common stock (1)	12,172,008	12,172,008	6,086,004
2023 Notes convertible to common stock (1)	4,941,739	4,941,739	7,932,791
Outstanding options to purchase common stock	9,488	1,707,371	1,585,332
Outstanding restricted stock units	98,750	2,642	—
Outstanding warrants to purchase common stock	—	—	10,792
Total potentially dilutive shares excluded from net income (loss) per share	17,221,985	18,823,760	15,614,919

(1) The 2023 Notes and 2026 Notes (defined below) are subject to a capped call arrangement that potentially reduces the dilutive effect as described in “Note 8 - Unsecured Convertible Senior Notes”. Any potential impact of the capped call arrangement is excluded from this table.