Net loss per share

Earnings per share are calculated in accordance with ASC Topic 260: "Earnings per Share", which specifies the computation, presentation and disclosure requirements for earnings per share (EPS). It requires the presentation of basic and diluted EPS. Basic EPS excludes all dilution and is based upon the weighted average number of shares of common stock outstanding during the period. Diluted EPS reflects the potential dilution that would occur if convertible securities or other contracts to issue common stock were exercised. For the three months ended March 31, 2020, there were 951,000 anti-dilutive stock options outstanding compared to 486,000 as of March 31, 2019. The potential effect of the conversion feature with respect to the 2024 Notes and 2026 Notes (See Note 8 - Debt) was excluded from the diluted net loss per share as of March 31, 2020 as the Company's closing stock price on March 31, 2020 did not exceed the initial conversion price of $28.55 per share or $42.97 per share, respectively. The potential shares from the 2024 Notes and 2026 Notes at the initial conversion rate was approximately 481,548 and 2,792,664, respectively.

The following is a reconciliation of the weighted average of shares of common stock outstanding for the basic and diluted EPS computations:



(in thousands, except per share data)	Three Months Ended March 31,
	2020			2019
Net loss	$	(10,910	)	$	(2,729	)

Basic:
Shares outstanding at beginning of period	16,629			16,041
Weighted average shares issued during the period, net	1,312			3
Weighted average common shares, basic	17,941			16,044
Net loss per common share, basic	$	(0.61	)	$	(0.17	)
Diluted:
Weighted average common shares, basic	17,941			16,044
Weighted average common shares, diluted	17,941			16,044
Net loss per common share, diluted	$	(0.61	)	$	(0.17	)