Earnings Per Share

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Earnings Per Share

5. Earnings Per Share

The Company calculates earnings per share (“EPS”) as required by FASB ASC Topic No. 260, Earnings Per Share. Basic EPS is calculated by dividing the net income available to common stockholders by the weighted average number of common shares outstanding for the period, excluding common stock equivalents. Diluted EPS is computed by dividing the net income available to common stockholders by the weighted average number of common shares outstanding for the period, plus the weighted average number of dilutive common stock equivalents outstanding for the period determined using the treasury-stock method. For periods with a net loss, the dilutive common stock equivalents are excluded from the diluted EPS calculation. For purposes of this calculation, common stock subject to repurchase by the Company, options, and warrants are considered to be common stock equivalents and are only included in the calculation of diluted earnings per share when their effect is dilutive.

The following table sets forth the details of basic and diluted earnings per share:

	For the Three Months Ended June 30,					For the Six Months Ended June 30,
	2021			2020		2021			2020
	(unaudited, in thousands, except per share amounts)					(unaudited, in thousands, except per share amounts)
Numerator:
Net income (loss)	$	(5,203	)	$	1,379	$	(8,428	)	$	3,424
Denominator:
Weighted average shares outstanding –    basic		53,017			41,127		48,219			40,305
Potential common shares – options /    warrants (treasury stock method)		—			1,952		—			2,041
Weighted average shares outstanding –    diluted		53,017			43,079		48,219			42,346
Shares excluded (anti-dilutive)		1,871			98		1,965			98
Net earnings (loss) per common share:
Basic	$	(0.10	)	$	0.03	$	(0.17	)	$	0.08
Diluted	$	(0.10	)	$	0.03	$	(0.17	)	$	0.08