Net Income (Loss) Per Common Share

6 Months Ended

Jun. 30, 2022

Net Income (Loss) Per Common Share

Net Income (Loss) Per Common Share

3. Net Income (Loss) Per Common Share

Basic net income (loss) per common share is computed 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 net income (loss) per common 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. Potentially dilutive securities consisting of stock issuable pursuant to outstanding options and restricted stock units (RSUs), and stock issuable pursuant to the 2013 Employee Stock Purchase Plan (ESPP) are not included in the per common share calculation in periods when the inclusion of such shares would have an anti-dilutive effect.

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
	(in thousands, except share and per share data)				(in thousands, except share and per share data)
Numerator:
Net income (loss) attributable to common stockholders	$	(33,975)	$	52,248	$	(10,380)	$	49,761
Denominator:
Weighted-average common shares outstanding used in computing basic net income (loss)		59,567,139		58,247,941		59,487,924		58,123,319
Effect of dilutive securities		—		2,087,398		—		2,380,527
Weighted-average common shares outstanding used in computing diluted net income (loss)		59,567,139		60,335,339		59,487,924		60,503,846
Basic net income (loss) per common share	$	(0.57)	$	0.90	$	(0.17)	$	0.86
Diluted net income (loss) per common share	$	(0.57)	$	0.87	$	(0.17)	$	0.82

For the three and six months ended June 30, 2022, we excluded all shares of stock issuable pursuant to outstanding options and RSUs from the calculation, because the inclusion of such shares would have had an anti-dilutive effect. For the three and six months ended June 30, 2021, we excluded 1,374,608 and 698,917 shares of stock issuable pursuant to outstanding options and RSUs from the calculation, respectively, because the inclusion of such shares would have had an anti-dilutive effect.