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Net Income (Loss) Per Share
 6 Months Ended
Jun. 30, 2017
Net Income (Loss) Per Share  
Net Income (Loss) Per Share

3. Net Income (Loss) Per Share 

 

We compute net income (loss) per common share by dividing the net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period without consideration of common stock equivalents. Diluted loss per share is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of common stock equivalents outstanding for the period. The treasury stock method is used to determine the dilutive effect of the Company’s stock option grants. Potentially dilutive securities consisting of stock issuable under options and our 2013 Employee Stock Purchase Plan (ESPP) are not included in the diluted net loss per common share calculation where the inclusion of such shares would have had an antidilutive effect.

 

Basic and diluted net income (loss) per common share is computed as follows (in thousands except share and per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

June 30, 

 

June 30, 

 

    

2017

    

2016

    

2017

    

2016

 

 

(in thousands, except share

 

 

and per share data)

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to common stockholders

 

$

(6,885)

 

$

47,165

 

$

(21,519)

 

$

40,767

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding, basic

 

 

46,767,759

 

 

40,800,586

 

 

46,683,744

 

 

40,703,688

Dilutive effect of stock options

 

 

 —

 

 

937,874

 

 

 —

 

 

997,574

Weighted average common shares outstanding, diluted

 

 

46,767,759

 

 

41,738,460

 

 

46,683,744

 

 

41,701,262

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share, basic

 

$

(0.15)

 

$

1.16

 

$

(0.46)

 

$

1.00

Net income (loss) per share, diluted

 

$

(0.15)

 

$

1.13

 

$

(0.46)

 

$

0.98

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three and six months ended June 30, 2017 all outstanding potentially dilutive securities have been excluded from the calculation of diluted net loss per common share as the effect of including such securities would have been antidilutive. For the three and six months ended June 30, 2016 there were no shares from the Company’s employee stock purchase plan that had a dilutive effect on shares outstanding.