Earnings (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Earnings Per Share, Basic and Diluted

The following table presents the calculation of basic and diluted earnings (loss) per share for the Company’s common stock:


	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except per share amounts)	2023		2022		2023		2022
Numerator:
Net (loss) income	$	(19,579)	$	(5,833)	$	(44,206)	$	39,061
Denominator:
Basic weighted average common shares outstanding	116,919		115,995		116,734		115,693
Effect of dilutive securities:
Stock options	—		—		—		10,428
Restricted stock units	—		—		—		65
Diluted weighted average common shares outstanding	116,919		115,995		116,734		126,185
Earnings (loss) per share:
Basic	$	(0.17)	$	(0.05)	$	(0.38)	$	0.34
Diluted	$	(0.17)	$	(0.05)	$	(0.38)	$	0.31

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The number of potential shares outstanding that were anti-dilutive, and were excluded from the computation of diluted earnings per share, weighted for the portion of the period they were outstanding, were as follows:


	Three Months Ended June 30,		Six Months Ended June 30,
(In thousands)	2023	2022	2023	2022
Stock options	15,383	27,413	19,777	16,321
Restricted stock units	15,104	321	12,479	—
ESPP	200	—	241	—
Earn-out shares	12,500	12,500	12,500	12,500
Total anti-dilutive shares	43,187	40,234	44,997	28,821