Earnings per Share

9 Months Ended

Sep. 30, 2023

The calculation of basic and diluted earnings per share (EPS) is presented below.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Numerator:




Net (loss) income	$	(12,519)	$	5,487	$	(161,791)	$	30,644
Denominator:
Weighted-average shares used in basic EPS	176,099		173,847		175,428		173,881
Dilutive effect of common stock equivalents (1)	—		3,119		—		3,537
Weighted-average shares used in diluted EPS	176,099		176,966		175,428		177,418



Basic net (loss) earnings per share	$	(0.07)	$	0.03	$	(0.92)	$	0.18



Diluted net (loss) earnings per share	$	(0.07)	$	0.03	$	(0.92)	$	0.17

Common stock equivalents excluded from calculation of diluted earnings per share because their impact would be anti-dilutive:	10,574		13,967		9,665		9,573

(1) Due to the net loss for the three and nine months ended September 30, 2023, an additional 4.3 million and 4.2 million, respectively, of common stock equivalents were also excluded from the calculation of diluted earnings per share.