Net (Loss) Income

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Net (Loss) Income

Net (Loss) Income

Per Share

The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders for the periods presented:

	Year Ended December 31,
(in thousands, except share and per share amounts)	2023		2022		2021
Numerator:
Net (loss) income available to stockholders	$	(116)	$	19,410	$	(18,527)
Denominator:
Weighted average number of shares outstanding—basic	91,587,311		94,052,435		90,218,386
Weighted average additional shares assuming conversion of potential common shares	—		4,813,569		—
Weighted average common shares outstanding—diluted	91,587,311		98,866,004		90,218,386
Net (loss) income per share attributable to stockholders, basic	$	0.00	$	0.21	$	(0.21)
Net (loss) income per share attributable to stockholders, diluted	$	0.00	$	0.20	$	(0.21)

Prior to the forgiveness of the promissory notes in August 2021, the Company’s participating securities included shares of common stock issued in exchange for promissory notes that were being treated as fully vested outstanding stock options and were excluded from the denominator of basic earnings per share. These awards

contained the same rights to distributions declared on the Company’s common stock but did not have a contractual obligation to share in losses, and as a result, in the periods where the Company was in a net loss position, net losses were not allocated to these participating securities. For the year ended December 31, 2021, the forgiven promissory notes are reflected as an issuance of common stock and are included in the denominator of basic earnings per share.

The following table summarizes the weighted average potentially dilutive securities that were excluded from the computation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented:

	Year Ended December 31,
	2023	2022	2021
Stock options	14,199,564	13,677,630	13,466,262
Restricted stock	4,581,025	3,421,920	1,779,716
Restricted stock units	94,314	51,249	41,933