Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Note 6. Net Income (Loss) Per Share

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

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

	Three Months Ended						Six Months Ended
(In thousands, except per share data)	June 30, 2024			July 2, 2023			June 30, 2024			July 2, 2023
Numerator:
Net loss	$	(45,175	)	$	(8,587	)	$	(63,825	)	$	(18,299	)
Denominator:
Weighted average common shares – basic		28,883			29,319			29,136			29,170
Weighted average common shares – dilutive		28,883			29,319			29,136			29,170
Basic net income (loss) per share	$	(1.56	)	$	(0.29	)	$	(2.19	)	$	(0.63	)
Diluted net income (loss) per share	$	(1.56	)	$	(0.29	)	$	(2.19	)	$	(0.63	)
Anti-dilutive employee stock-based awards, excluded		2,060			2,404			1,968			2,222