Basic and Diluted Net Income (Loss) per Share (Tables)

6 Months Ended

Jun. 30, 2016

Basic and Diluted Net Income (Loss) per Share

Schedule of components of basic and diluted net income (loss) per share

The components of basic and diluted net income (loss) per share for the three and six months ended June 30, 2016 and 2015, were as follows (in thousands, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Net income (loss)	$	(596)	$	33,258	$	(8,123)	$	46,162
Weighted average common shares outstanding		34,223		30,636		34,481		28,934
Effect of dilutive securities:
Stock options and RSUs		—		1,785		—		1,639
Warrants		—		3,378		—		2,836
Convertible 2.5% notes		—		7,382		—		7,382
Shares used in calculating dilutive net income (loss) per share		34,223		43,181		34,481		40,791
Net income (loss) per share:
Basic	$	(0.02)	$	1.09	$	(0.24)	$	1.60
Diluted	$	(0.02)	$	0.82	$	(0.24)	$	1.23

Schedule of anti-dilutive securities from computation of diluted net Income (loss) per share

The following table sets forth the potential common shares issuable upon the exercise of outstanding options, the vesting of RSUs, the exercise of warrants (prior to consideration of the treasury stock method), and the conversion of the Convertible Notes, which were excluded from our computation of diluted net income (loss) per share because their inclusion would have been anti-dilutive (in thousands):

	Three months ended  June 30,		Six months ended June 30,
	2016	2015	2016	2015
Options to purchase shares of common stock	2,525	601	2,694	709
Shares of common stock issuable upon the vesting of RSUs	480	68	974	341
Warrants	7,382	—	7,382	—
Convertible 2.5% notes	7,382	—	7,382	—
Total	17,769	669	18,432	1,050