Three months ended June 30,

Six months ended June 30,

2023

2022

2023

2022

(in thousands, except per share amounts)

Numerator:

Net income (loss)

$

(85,320)

$

9,655

$

(76,579)

$

22,985

Interest expense associated with convertible notes

—

1,273

—

2,546

Net income (loss) available to common shareholders

$

(85,320)

$

10,928

$

(76,579)

$

25,531

Denominator:

Basic weighted average shares outstanding

52,861

49,697

51,764

49,702

Effect of potentially dilutive share-based awards

—

816

—

877

Dilutive effect of convertible notes

—

8,942

—

8,942

Diluted weighted average shares outstanding

52,861

59,455

51,764

59,521

Net income per common share:

Basic

$

(1.61)

$

0.19

$

(1.48)

$

0.46

Diluted

$

(1.61)

$

0.18

$

(1.48)

$

0.43

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

838

N/A

674

N/A

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

743

987

763

645

Potential shares to be issued for settlement of the convertible notes excluded from the diluted calculation as their effect would be antidilutive

8,868

6,025

11,722

6,025