Net (Loss) Income Attributable to Penumbra, Inc.

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Net (Loss) Income Attributable to Penumbra, Inc.

14. Net (Loss) Income Attributable to Penumbra, Inc.

The Company computed basic net (loss) income attributable to Penumbra, Inc. per share based on the weighted average number of shares of common stock outstanding during the period. The Company computed diluted net (loss) income attributable to Penumbra, Inc. per share based on the weighted average number of shares of common stock outstanding plus potentially dilutive common stock equivalents outstanding during the period using the treasury stock method. For the purposes of this calculation, stock options, restricted stock units and stock sold through the Company’s employee stock purchase plan are considered common stock equivalents.

A reconciliation of the numerator and denominator used in the calculation of the basic and diluted net (loss) income attributable to Penumbra, Inc. per share is as follows (in thousands, except share and per share amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Net (loss) income attributable to Penumbra, Inc.	$	(2,271)	$	8,850	$	(5,879)	$	29,917
Denominator:
Weighted average shares used to compute net (loss) income attributable to common stockholders:
Basic	37,918,452		36,617,961		37,778,362		36,532,822
Potential dilutive stock-based options and awards	—		993,394		—		1,059,273
Diluted	37,918,452		37,611,355		37,778,362		37,592,095
Net (loss) income attributable to Penumbra, Inc. per share:
Basic	$	(0.06)	$	0.24	$	(0.16)	$	0.82
Diluted	$	(0.06)	$	0.24	$	(0.16)	$	0.80

For the three months ended September 30, 2022 and 2021, outstanding stock-based awards of 1.6 million and 6 thousand shares, respectively, and for the nine months ended September 30, 2022 and 2021, outstanding stock-based awards of 1.9 million and 27 thousand shares, respectively, were excluded from the computation of diluted net (loss) income attributable to Penumbra, Inc. per share because their effect would have been anti-dilutive.