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Net Income (Loss) Per Ordinary Share
12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Net Income (Loss) per Ordinary Share Net Income (Loss) Per Ordinary Share
Basic net income (loss) per ordinary share is calculated by dividing net income (loss) by the weighted-average number of ordinary shares outstanding during the period. Shares used in diluted net income per ordinary share would include the dilutive effect of ordinary shares potentially issuable upon the exercise of stock options outstanding. However, potentially issuable ordinary shares are not used in computing diluted net loss per ordinary share as their effect would be anti-dilutive due to the loss recorded during the years ended December 31, 2022 and 2020, and therefore diluted net loss per share is equal to basic net loss per share. During the year ended December 31, 2021, diluted net income per ordinary share is computed by giving effect to all dilutive potential ordinary shares including options.
Net income (loss) per ordinary share was determined as follows (in thousands, except per share amounts):
Year Ended 
December 31,
202220212020
Numerator:
Net income ( loss)$(116,949)$66,975 $(111,144)
Denominator:
Weighted-average ordinary shares outstanding used in per share calculations - basic47,369 44,228 39,915 
Dilutive stock options outstanding— 4,236 — 
Weighted-average ordinary shares outstanding used in per share calculations - diluted47,369 48,464 39,915 
Net income (loss) per share:
Basic net income (loss) per ordinary share$(2.47)$1.51 $(2.78)
Diluted net income (loss) per ordinary share$(2.47)$1.38 $(2.78)
The equivalent ordinary shares not included in diluted net income (loss) per share because their effect would be anti-dilutive are as follows (in thousands):
 Year Ended 
December 31,
 202220212020
Stock options to purchase ordinary shares9,480 382 8,745 
Restricted Stock Units (RSU)23 — — 
Total9,503 382 8,745