Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2020

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Net income (loss)	$	11,589	$	(7,652)	$	(10,322)	$	(46,077)
Income (loss) from continuing operations	$	9,589	$	(8,809)	$	(12,175)	$	(48,632)
Income from discontinuing operations, net of taxes	$	2,000	$	1,157	$	1,853	$	2,555

Weighted-average common shares outstanding, basic	107,693		106,239		107,418		105,510
Weighted-average common shares outstanding, diluted	110,011		106,239		107,418		105,510
Net income (loss) per share, basic
Continuing operations	$	0.09	$	(0.08)	$	(0.11)	$	(0.46)
Discontinued operations	$	0.02	$	0.01	$	0.02	$	0.02
Net income (loss) per share, diluted
Continuing operations	$	0.09	$	(0.08)	$	(0.11)	$	(0.46)
Discontinued operations	$	0.02	$	0.01	$	0.02	$	0.02

The following table presents the number of anti-dilutive shares excluded from the calculation of diluted net income (loss) per share at September 30, 2020 and 2019 (in thousands):


	September 30,
	2020	2019
Options to purchase common stock	9,219	10,884
Common stock warrants	1,459	1,459
Non-vested restricted stock unit awards	3,234	6,385
Total shares excluded from net income (loss) per share	13,912	18,728

Share Repurchase ProgramIn July 2020, the Company’s board of directors authorized an open market stock repurchase program (the “Program”) of up to $75 million to allow for the repurchase of shares of the Company’s common stock through September 30, 2022. The timing and amount of any repurchases will be determined by Company management based on its evaluation of market conditions and other factors. Repurchases of the Company’s common stock may be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws, open market purchases, privately-negotiated transactions, block purchases or otherwise in accordance with applicable federal securities laws. The Program may be suspended or discontinued at any time and does not obligate the Company to purchase any minimum number of shares. For the three months ended September 30, 2020, the Company repurchased and retired a total of 2.4 million shares under the Program for $11.7 million. As of September 30, 2020, the Company had a remaining authorization of $63.4 million for future share repurchases.