Net Income (Loss) per Share

9 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Net (Income) Loss per Share

Net Income (Loss) per Share

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding, less RSAs subject to forfeiture. Diluted net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding, less RSAs subject to forfeiture, plus all additional common shares that would have been outstanding, assuming dilutive potential common shares had been issued for other dilutive securities. For periods of net loss, diluted and basic net loss per share were identical since potential common shares were excluded from the calculation, as their effect would be anti-dilutive.

The following table sets forth the computation of basic and diluted net income per share during the three and nine months ended September 30, 2015 and 2014 (in thousands):

	Three Months Ended September 30,					Nine Months Ended September 30,
	2015		2014			2015			2014
Numerator
Net income (loss)	$	5,394	$	(4,562	)	$	(5,528	)	$	(19,416	)
Denominator
Weighted average common shares used in computing net income (loss) per share, basic	39,767		38,450			39,340			38,063
Effect of dilutive shares	1,203		—			—			—
Weighted average common shares used in computing net income (loss) per share, diluted	40,970		38,450			39,340			38,063
Net income (loss) per share, basic	$	0.14	$	(0.12	)	$	(0.14	)	$	(0.51	)
Net income (loss) per share, diluted	$	0.13	$	(0.12	)	$	(0.14	)	$	(0.51	)

Anti-Dilutive Securities

In periods of net loss, the weighted average number of shares outstanding related to potentially dilutive securities, prior to the application of the treasury stock method, are excluded from the computation of diluted net loss per common share because including such shares would have an anti-dilutive effect. The following shares were not considered in the computation of diluted net loss per share (in thousands):

	Three Months Ended September 30,		Nine Months Ended September 30,
	2015	2014	2015	2014
Shares issuable under Equity Incentive Plan	—	6,398	6,121	6,398
Shares issuable upon the conversion of warrants	—	75	75	75
Total shares excluded as anti-dilutive	—	6,473	6,196	6,473