Net (Loss) Income Per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Loss

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Numerator:
Net (loss) income used in calculating net (loss) income per share, basic	(47,276)		$	7,746	$	(62,418)	$	7,387
Interest expense on convertible notes	—		758		—		740
Amortization of debt issuance cost	—		209		—		204
Net (loss) income used in calculating net (loss) income per share, diluted	(47,276)		8,713		(62,418)		8,331
Denominator:
Weighted average shares of common stock outstanding used in computing net (loss) income per share, basic	18,700		17,862		18,392		17,815
Dilutive effect of incremental shares and share equivalents:
Convertible notes	—		4,167		—		2,625
Options	—		65		—		63
RSUs	—		259		—		270
PSUs	—		77		—		64
ESPP	—		23		—		18
Weighted average shares of common stock outstanding used in computing net (loss) income per share, diluted	18,700		22,453		18,392		20,855
Net (loss) income per share:
Net (loss) income per share, basic	$	(2.53)	$	0.43	$	(3.39)	$	0.41
Net (loss) income per share, diluted	$	(2.53)	$	0.39	$	(3.39)	$	0.40

Schedule of Antidilutive Securities Excluded from Computation of Loss 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 (loss) income per common share for the periods presented because including them would have had an anti-dilutive effect (in thousands):

	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021
Capped call	8,724	4,167	8,724	4,167
Convertible notes	6,640	—	6,640	—
Options to purchase common stock	542	189	542	143
Restricted stock units	550	11	550	2
Performance stock units	489	—	489	—
Employee stock purchase plan shares	29	—	29	—
Total	16,974	4,367	16,974	4,312