Net Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2023

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 March 31,
	2023		2022
	(in thousands, except share and per share data)
Numerator:
Net income (loss) attributable to common stockholders	$	(60,763)	$	23,594
Denominator:
Weighted-average common shares outstanding used in computing basic net income (loss)	59,771,674		59,407,829
Effect of dilutive securities	—		1,670,665
Weighted-average common shares outstanding used in computing diluted net income (loss)	59,771,674		61,078,494
Basic net income (loss) per common share	$	(1.02)	$	0.40
Diluted net income (loss) per common share	$	(1.02)	$	0.39

For the three months ended March 31, 2023, 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 anti-dilutive. For the three months ended March 31, 2022, we excluded 2,556,779 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.