Earnings per Share

3 Months Ended

Mar. 31, 2022

Basic earnings per share (EPS) is calculated by dividing the net income (loss) by the weighted average number of shares of common stock outstanding. Diluted EPS is computed by dividing the net income (loss) by the weighted average number of shares of common stock outstanding, plus potential outstanding common stock for the period. Potential outstanding common stock includes stock options and shares underlying RSUs, but only to the extent that their inclusion is dilutive.

The following table presents the calculation of basic and diluted net income (loss) per share of common stock for the three months ended March 31, 2022 and 2021:


	Three Months Ended
(in thousands, except for share and per share amounts)	March 31, 2022		March 31, 2021
Numerator:
Net income (loss)	$	(6,430)	$	8,650
Denominator:
Weighted average shares outstanding, basic	56,105,239		55,145,789
Effect of dilutive securities	—		1,359,298
Weighted average shares outstanding, diluted	56,105,239		56,505,087
Net income (loss) per share, basic and diluted:
Basic	$	(0.11)	$	0.16
Diluted	$	(0.11)	$	0.15
Antidilutive securities excluded from calculations of diluted net income (loss) per share	4,263,975		2,137,110

The company incurred a net loss for the three months ended March 31, 2022 causing inclusion of any potentially dilutive securities to have an anti-dilutive effect, resulting in dilutive loss per share and basic loss per share attributable to common stockholders being equivalent.