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Net Income (Loss) Per Common Share (Tables)
9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Components of Basic and Diluted Net Income (Loss) Per Common Share Computations

The following tables summarize the components of the basic and diluted net income (loss) per common share computations (in thousands except par value and per share data):

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

September 30,

 

 

September 30,

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Basic EPS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) (numerator)

$

(32,886

)

 

$

126,520

 

 

$

(84,549

)

 

$

71,690

 

Weighted average common shares (denominator)

 

104,703

 

 

 

95,627

 

 

 

100,136

 

 

 

90,838

 

Net income (loss) per share

$

(0.31

)

 

$

1.32

 

 

$

(0.84

)

 

$

0.79

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted EPS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) (numerator)

$

(32,886

)

 

$

126,520

 

 

$

(84,549

)

 

$

71,690

 

Weighted average common shares

 

104,703

 

 

 

95,627

 

 

 

100,136

 

 

 

90,838

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of dilutive securities - common shares issuable

 

—

 

 

 

921

 

 

 

—

 

 

 

36

 

Adjusted weighted average common shares (denominator)

 

104,703

 

 

 

96,549

 

 

 

100,136

 

 

 

90,873

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share

$

(0.31

)

 

$

1.31

 

 

$

(0.84

)

 

$

0.79

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Potentially Dilutive Common Stock Equivalent Securities

The computation of basic and diluted net loss per share for the three and nine months ended September 30, 2017 and 2016 excludes the common stock equivalents of the following potentially dilutive securities because their inclusion would be anti-dilutive:

 

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Restricted stock units

 

 

1,147,688

 

 

 

172,953

 

 

 

1,147,688

 

 

 

172,953

 

Senior convertible notes

 

 

814,561

 

 

 

--

 

 

 

814,561

 

 

 

814,561

 

Warrants

 

 

31,856

 

 

 

9,740,597

 

 

 

31,856

 

 

 

9,740,597

 

Employee stock purchase plan

 

 

142,888

 

 

 

14,079

 

 

 

142,888

 

 

 

14,079

 

Stock options

 

 

7,183,837

 

 

 

5,689,486

 

 

 

7,183,837

 

 

 

5,689,486

 

 

 

 

9,320,830

 

 

 

15,617,115

 

 

 

9,320,830

 

 

 

16,431,676