Three months ended March 31,

2021

2020

(in thousands, except per share amounts)

Net income (loss)

$

2,494

$

(567)

Net income (loss) per common share:

Basic

$

0.05

$

(0.01)

Diluted

$

0.05

$

(0.01)

Basic weighted average shares outstanding

48,624

47,811

Dilutive effect of share-based awards

1,494

—

Dilutive effect of the 2027 Notes

2,932

—

Diluted weighted average shares outstanding

53,050

47,811

Common share equivalents excluded from the diluted weighted average shares outstanding since the Company incurred a net loss and their effect would be antidilutive

N/A

627

Potentially dilutive shares excluded from the diluted calculation as their effect would be antidilutive

878

1,485

Maximum potential shares to be issued for settlement of the 2023, 2025, and 2027 Notes excluded from the diluted calculation as their effect would be antidilutive due to a net loss or the fact that the conversion value of the Notes did not exceed their principal amount

8,811

8,618