Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2020

19. NET INCOME (LOSS) PER SHARE

Basic net income (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding during each period.

Diluted net income (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the weighted average number of common and dilutive common equivalent shares outstanding for the period using the treasury-stock method or the as-converted method. Shares issuable in connection with the warrant options (Note 11) are considered outstanding common shares for purposes of calculating net income (loss) per share since they do not contain any conditions that must be satisfied for the holder to exercise the warrant. Potentially dilutive shares are comprised of restricted stock and shares of common stock underlying stock options outstanding under the Plans and warrants (other than warrant options) to purchase common stock.

The following table summarizes the computation of basic and diluted net income (loss) per share attributable to common stockholders of the Company for the three and six months ended June 30, 2020 and 2019:

	Three Months Ended June 30,						Six Months Ended June 30,
In thousands, except for net loss per share	2020			2019			2020			2019
Net income (loss)	$	13,224		$	(322	)	$	(28,024	)	$	(5,564	)
Accretion of redeemable preferred stock		(5,644	)		(4,777	)		(11,059	)		(9,311	)
Net income (loss) attributable to common stockholders - basic and diluted		7,580			(5,099	)		(39,083	)		(14,875	)
Weighted-average common shares outstanding - basic		10,649			8,647			9,718			8,602
Net income (loss) per share attributable to common stockholders - basic	$	0.71		$	(0.59	)	$	(4.02	)	$	(1.73	)
Weighted-average common shares outstanding - diluted		19,139			8,647			9,718			8,602
Net income (loss) per share attributable to common stockholders - diluted	$	0.40		$	(0.59	)	$	(4.02	)	$	(1.73	)

The following equity shares were excluded from the calculation of diluted net loss per share attributable to common stockholders because their effect would have been anti-dilutive for the periods where a net loss was recorded:

	June 30,
	2020		2019
Stock options		2,685,439		1,960,887
Restricted stock		24,362		168,001
Warrants		116,350		116,350