Net Income (Loss) per Share

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Net Income (Loss) per Share

9. Net Income (Loss) per Share

Basic and diluted net income (loss) per share attributable to common stockholders was calculated as follows:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2021		2020			2021			2020
Basic Earnings Per Share:
Numerator:
Net income (loss)	$	68,218	$	(30,280	)	$	(15,577	)	$	(70,875	)
Income (loss) attributable to common stockholders - basic	$	68,218	$	(30,280	)	$	(15,577	)	$	(70,875	)
Denominator:
Weighted-average shares outstanding		91,757,614		83,531,617			91,649,035			75,914,361
Net income (loss) per share applicable to common stockholders - basic	$	0.74	$	(0.36	)	$	(0.17	)	$	(0.93	)
Diluted Earnings Per Share:
Numerator:
Net income (loss)	$	68,218	$	(30,280	)	$	(15,577	)	$	(70,875	)
Income (loss) attributable to common stockholders - diluted	$	68,218	$	(30,280	)	$	(15,577	)	$	(70,875	)
Denominator:
Weighted-average shares outstanding		91,757,614		83,531,617			91,649,035			75,914,361
Dilutive impact from:
Stock options to purchase common stock		3,186,762		—			—			—
Unvested restricted stock units		8,741		—			—			—
Weighted-average shares outstanding - diluted		94,953,117		83,531,617			91,649,035			75,914,361
Net income (loss) per share applicable to common stockholders - diluted	$	0.72	$	(0.36	)	$	(0.17	)	$	(0.93	)
Anti-dilutive potential common stock equivalents excluded from the calculation of net income (loss) per share:
Stock options to purchase common stock		7,716,681		9,802,633			10,903,443			9,802,633
Unvested restricted stock units		549,455		—			558,196			—

The effect of dilutive securities was calculated using the treasury stock method.

The anti-dilutive potential common stock equivalents for the three months ended September 30, 2021 were excluded from the computation of diluted net income per share attributable to common stockholders because those stock options to purchase common stock and restricted stock units had an anti-dilutive impact due to the assumed proceeds per share using the treasury stock method being greater than the average fair value of the Company’s common shares for those periods.

The anti-dilutive potential common stock equivalents for the nine months ended September 30, 2021 and the three and nine months ended September 30, 2020 were excluded from the computation of diluted net loss per share attributable to common

stockholders because those stock options to purchase common stock and restricted stock units had an anti-dilutive impact as the Company reported a net loss attributable to common stockholders for those periods.