NET INCOME PER COMMON SHARE

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

NET INCOME PER COMMON SHARE

NET INCOME PER COMMON SHARE

Potentially issuable shares of common stock include shares issuable upon the exercise of outstanding employee stock option awards, common stock issuable under the ESPP, unvested RSUs and contingent issuances of common stock related to the Company’s convertible debt.

The following table sets forth the computation of basic and diluted earnings per common share (common shares in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Net Income (loss), basic	$	(6,652)	$	(36,494)	$	141,810	$	(6,182)
Add: Interest expense, net of tax, on the 2024 Notes	—		—		2,806		—
Net Income (loss), diluted	$	(6,652)	$	(36,494)	$	144,616	$	(6,182)
Denominator:
Weighted-average common shares outstanding, basic	185,597		183,214		185,009		182,616
Effect of dilutive securities:
Issuances under equity incentive plans	—		—		3,273		—
Common stock issuable under the 2024 Notes	—		—		3,970		—
Weighted-average common shares outstanding, diluted	185,597		183,214		192,252		182,616
Net income (loss) per common share, basic	$	(0.04)	$	(0.20)	$	0.77	$	(0.03)
Net income (loss) per common share, diluted	$	(0.04)	$	(0.20)	$	0.75	$	(0.03)

In addition to the equity instruments included in the table above, the table below presents potential shares of common stock that were excluded from the computation of basic and diluted income per common share as they were anti-dilutive (in thousands):

	Three Months Ended September 30,		Nine Months Ended September 30,
	2022	2021	2022	2021
Issuances under equity incentive plans	12,221	12,720	8,948	12,720
Common stock issuable under the Company's convertible notes	8,335	8,335	4,365	8,335
Total number of potentially issuable shares	20,556	21,055	13,313	21,055