Net Income Per Share (Tables)

12 Months Ended

Dec. 31, 2015

Net Income per Share

Schedule of reconciliation of numerator and denominator used in calculation of basic and diluted net income (loss) per share

A reconciliation of the numerator and denominator used in the calculation of the basic and diluted net income per share is as follows (in thousands, except per share data):

	December 31,
	2015		2014		2013
Historical net income (loss) per share
Numerator:
Net income (loss)	$	(51,802)	$	10,223	$	50,921
Noncumulative dividend on preferred stock		—		(432)		(1,436)
Undistributed earnings allocated to preferred stockholders		—		(823)		(16,417)
Basic net income (loss) attributable to common stockholders		(51,802)		8,968		33,068
Adjustment to net income (loss) for dilutive securities		—		101		2,285
Diluted net income (loss) attributable to common stockholders	$	(51,802)	$	9,069	$	35,353
Denominator:
Basic common shares outstanding:
Basic common shares outstanding: weighted average common shares outstanding		18,116		14,849		9,508
Less: weighted average unvested common shares subject to repurchase		(5)		(12)		(2)
Weighted average number of common shares used in calculating net income (loss) per share—basic		18,111		14,837		9,506
Dilutive securities:
Common stock options		—		2,148		2,204
Warrants to purchase common stock		—		122		96
Weighted average number of common shares used in calculating net income (loss) per share—diluted		18,111		17,107		11,806
Net income (loss) per share attributable to common stockholders
Basic	$	(2.86)	$	0.60	$	3.48
Diluted	$	(2.86)	$	0.53	$	2.99

Schedule of outstanding shares of potentially dilutive securities excluded from the computation of diluted net income per share of common stock, because including them would have been anti-dilutive

The following shares of potentially dilutive securities were excluded from the computation of diluted net income per share of common stock for the periods presented, because including them would have been anti-dilutive (in thousands):

	December 31,
	2015	2014	2013
Convertible preferred stock	—	—	4,719
Options to purchase common stock	5,249	441	—
Warrants to purchase convertible preferred stock	—	—	623
Total	5,249	441	5,342