Net Income (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2021

Computation of Basic and Diluted Net Income (Loss)

The following table sets forth the computation of basic and diluted net income (loss) and the weighted average number of shares used in computing basic and diluted net income (loss) per share (in thousands, except per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator:
Net income (loss) used in calculating net income (loss) per share, basic and diluted	$	(1,390)	$	(2,257)	$	5,997	$	(26,065)
Denominator:
Weighted average shares of common stock outstanding used in computing net income (loss) per share, basic	17,945		17,603		17,860		16,368
Dilutive effect of incremental shares and share equivalents:
Options	—		—		70		—
RSUs	—		—		297		—
PSUs	—		—		81		—
ESPP	—		—		19		—
Weighted average shares of common stock outstanding used in computing net income (loss) per share, diluted	17,945		17,603		18,327		16,368
Net income (loss) per share:
Net income (loss) per share, basic	$	(0.08)	$	(0.13)	$	0.34	$	(1.59)
Net income (loss) per share, diluted	$	(0.08)	$	(0.13)	$	0.33	$	(1.59)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following numbers of shares outstanding, prior to the application of the treasury stock method and the if-converted method, were excluded from the computation of diluted net income (loss) per common share for the periods presented because including them would have had an anti-dilutive effect (in thousands):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2021	2020	2021	2020
Capped call	4,167	—	4,167	—
Convertible notes	4,167	—	4,167	—
Options to purchase common stock	308	232	187	246
Restricted stock units	528	733	72	735
Performance stock units	455	24	24	83
Employee stock purchase plan shares	22	17	—	57
Total	9,647	1,006	8,617	1,121