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Net Income (Loss) Per Share
 9 Months Ended
Sep. 25, 2020
Earnings Per Share [Abstract]  
Income (Loss) Per Share NET INCOME (LOSS) PER SHARE
The following table sets forth the computation of the basic and diluted net income (loss) per share (in thousands, except per share amounts):
 
Three months ended
 
Nine months ended
 
September 25,
2020
 
September 27,
2019
 
September 25,
2020
 
September 27,
2019
Numerator:
 
 
 
 
 
 
 
Net income (loss)
$
(5,381
)
 
$
11,657

 
$
(42,736
)
 
$
(11,494
)
Denominator:
 
 
 
 
 
 
 
Weighted average number of common shares outstanding
 
 
 
 
 
 
 
Basic
97,563

 
89,964

 
96,623

 
89,030

Effect of dilutive securities from stock options, restricted stock units and ESPP
—

 
1,855

 
—

 
—

Effect of dilutive securities from convertible debt
—

 
3,468

 
—

 
—

Effect of dilutive securities from warrant
—

 
2,309

 
—

 
—

Diluted shares
97,563

 
97,596

 
96,623

 
89,030

Net income (loss) per share:
 
 
 
 
 
 
 
Basic
$
(0.06
)
 
$
0.13

 
$
(0.44
)
 
$
(0.13
)
Diluted
$
(0.06
)
 
$
0.12

 
$
(0.44
)
 
$
(0.13
)

Basic net loss per share was the same as diluted net loss per share for the three and nine months ended September 25, 2020 and nine months ended September 27, 2019, as the inclusion of potential common shares outstanding would have been anti-dilutive due to the Company’s net losses for the periods presented. The following table sets forth the potential weighted common shares outstanding and the anti-dilutive weighted shares that were excluded from the computation of basic and diluted net loss per share calculations (in thousands):
 
Three months ended
 
Nine months ended
 
September 25,
2020
 
September 27,
2019
 
September 25,
2020
 
September 27,
2019
Stock options
1,558

 
678

 
1,637

 
2,699

RSUs
3,336

 
8

 
3,066

 
2,860

Stock purchase rights under the ESPP
525

 
—

 
516

 
475

Convertible Debt
—

 
—

 
390

 
1,156

Warrants (1)
—

 
—

 
—

 
4,128

   Total
5,419

 
686

 
5,609

 
11,318


(1) See Note 15, “Warrants” for additional information.

The Company’s intent is to settle the principal amount of the 2020 Notes, the 2022 Notes and the 2024 Notes in cash. The treasury stock method is used to calculate any potential dilutive effect of the conversion spread on diluted net income per share, if applicable.

•
The conversion spread of 1,400,522 shares will have a dilutive impact on diluted net income per share when the Company’s average market price of its common stock for a given period exceeds the conversion price of $5.75 per share for the 2020 Notes.

•
The conversion spread of 6,557,739 shares will have a dilutive impact on diluted net income per share when the Company’s average market price of its common stock for a given period exceeds the conversion price of $5.75 per share for the 2022 Notes.

•
The conversion spread of 13,337,182 shares will have a dilutive impact on diluted net income per share when the Company’s average market price of its common stock for a given period exceeds the conversion price of $8.66 per share for the 2024 Notes.

See Note 11, “Convertible Notes, Other Debts and Finance Leases” for additional information on the 2020 Notes, the 2022 Notes and the 2024 Notes.