Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Note 5. Net Income (Loss) Per Share

Basic net income (loss) per share is computed by dividing the net income for the period by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing the net income for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. Potentially dilutive common shares include common shares issuable upon exercise of stock options, vesting of restricted stock units and performance shares, and issuances of shares under the Employee Stock Purchase Plan (the “ESPP”), which are reflected in diluted net income per share by application of the treasury stock method. Potentially dilutive common shares are excluded from the computation of diluted net income per share when their effect is anti-dilutive.

Net income (loss) per share consisted of the following:

	Year Ended December 31,
(In thousands, except per share data)	2023			2022			2021
Numerator:
Net income (loss)	$	(104,767	)	$	(68,987	)	$	49,387
Denominator:
Weighted average common shares - basic		29,355			29,007			30,241
Potentially dilutive common share equivalent		—			—			761
Weighted average common shares - dilutive		29,355			29,007			31,002
Basic net income (loss) per share	$	(3.57	)	$	(2.38	)	$	1.63
Diluted net income (loss) per share	$	(3.57	)	$	(2.38	)	$	1.59
Anti-dilutive employee stock-based awards, excluded		2,362			1,556			422