Net (Loss) Income per Share

12 Months Ended

Dec. 31, 2022

16. Net (Loss) Income per Share

The denominators used in the net (loss) income per share computations are as follows:



	Year Ended December 31,
	2022	2021	2020
Basic:
Weighted average common shares outstanding	53,653,564	50,718,765	47,413,250
Diluted:
Weighted average common shares outstanding - Basic	53,653,564	50,718,765	47,413,250
Common stock equivalents*	—	—	501,780
Denominator for diluted net (loss) income per share	53,653,564	50,718,765	47,915,030

*	For the year end December 31, 2020, common stock equivalents include dilutive stock options and restricted stock units. For the years ended December 31, 2022 and 2021, no amounts were considered as their effects would have been anti-dilutive due to net losses for those periods.

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



	Year Ended December 31,
	2022		2021		2020
Net (loss) income - basic and diluted	$	(85,474)	$	(88,441)	$	8,410

Weighted-average common shares outstanding - basic		53,653,564		50,718,765		47,413,250
Effect of dilutive securities:
Stock options		—		—		481,254
Restricted stock units		—		—		20,526
Weighted-average common shares outstanding - diluted		53,653,564		50,718,765		47,915,030

Net (loss) income per share:
Basic	$	(1.59)	$	(1.74)	$	0.18
Diluted	$	(1.59)	$	(1.74)	$	0.18

As of December 31, 2022, 7,689,449 stock options and 372,513 restricted stock units were outstanding, which could potentially dilute basic earnings per share in the future, but were not included in the computation of diluted net loss per share because to do so would have been anti-dilutive as a result of the net loss for the period.

As of December 31, 2021, 6,512,280 stock options and 576,544 restricted stock units were outstanding, which could potentially dilute basic earnings per share in the future, but were not included in the computation of diluted net loss per share because to do so would have been anti-dilutive as a result of the net loss for the period.

As of December 31, 2020, 5,469,393 stock options and 235,250 restricted stock units were outstanding, which could potentially dilute basic earnings per share in the future. 481,254 of these outstanding stock options and 20,526 of these restricted stock units were considered dilutive and included in the computation of diluted net income per share for the year ended December 31, 2020.