Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
(In thousands, except per share amounts)	2023		2022		2023		2022
Numerator:
Net income (loss)	$	(13,924)	$	(23,528)	$	(58,130)	$	15,533
Denominator:
Basic weighted average common shares outstanding	118,146		116,412		117,210		115,935
Effect of dilutive securities:
Stock options	—		—		—		9,829
Restricted stock units	—		—		—		937
ESPP	—		—		—		16
Diluted weighted average common shares outstanding	118,146		116,412		117,210		126,717
Earnings (loss) per share:
Basic	$	(0.12)	$	(0.20)	$	(0.50)	$	0.13
Diluted	$	(0.12)	$	(0.20)	$	(0.50)	$	0.12

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 September 30,		Nine Months Ended September 30,
(In thousands)	2023	2022	2023	2022
Stock options	10,670	26,279	16,708	16,095
Restricted stock units	15,866	5,307	13,621	—
ESPP	183	81	328	—
Earn-out shares	12,500	12,500	12,500	12,500
Total anti-dilutive shares	39,219	44,167	43,157	28,595