Basic and Diluted Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2015

Basic and Diluted Net Loss per Share

A reconciliation of the numerator and the denominator used to calculate basic and diluted net loss per share is as follows (in thousands, except per share amounts):



	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2015			2014			2015			2014
Numerator
Net loss	$	(4,119	)	$	(8,211	)	$	(11,172	)	$	(18,645	)
Denominator — Basic
Weighted average shares used to calculate net loss per share, basic	36,741			36,096			36,695			32,980
Denominator — Diluted
Weighted average shares used to calculate net loss per share, basic	36,741			36,096			36,695			32,980
Effect of dilutive restricted stock units ^(A)	—			—			—			—
Effect of dilutive stock options ^(A)	—			—			—			—
Weighted average shares used to calculate net loss per share, diluted	36,741			36,096			36,695			32,980
Net loss per share
Basic	$	(0.11	)	$	(0.23	)	$	(0.30	)	$	(0.57	)
Diluted	$	(0.11	)	$	(0.23	)	$	(0.30	)	$	(0.57	)


(A)	For the three and six months ended June 30, 2015 and 2014, the following equity awards, by type, were excluded from the calculation, as their effect would have been anti-dilutive (in thousands):



	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2015	2014	2015	2014
Stock options	2,839	3,042	2,839	3,042
Restricted stock units	241	300	241	300
Performance based restricted stock units^(B)	1,450	409	1,450	409
Total equity award shares excluded	4,530	3,751	4,530	3,751

(B)

2014 performance based restricted stock units are presented based on attainment of 100% of the performance goals being met. The maximum multiplier for a given semi-annual performance period was 2.75x the original grant and overall achievement was limited to a maximum of 2.5x of the target award over the entire performance period (Note 11 —Stock-based Compensation). Based on this formula, the maximum number of shares that could have been earned was 1.0 million for the three and six months ended June 30, 2014. The 2015 performance based restricted stock units do not have a multiplier feature (Note 11 —Stock-based Compensation) and are presented based on attainment of 100% of the performance goals being met.