Net Income Per Share

12 Months Ended

Dec. 31, 2015

We compute basic net income per share by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. We compute diluted net loss per share giving effect to all potential dilutive common stock, including employee stock options, restricted stock units and restricted stock awards, convertible redeemable preferred stock, warrants to acquire common stock, and warrants to acquire convertible redeemable preferred stock.

The following table sets forth the computation of basic and diluted net income (loss) per share for the years ended December 31:



	2015			2014		2013
	(in thousands, except share and per share data)
Net income (loss)	$	(51,003	)	$	2,495	$	54,455
Denominator (basic):
Weighted average common shares outstanding	94,897,450			92,733,496		88,635,832
Denominator (diluted):
Weighted average common shares outstanding	94,897,450			92,733,496		88,635,832
Dilutive stock options outstanding	—			3,791,148		4,984,569
Dilutive restricted stock units and restricted stock awards	—			252,093		105,572
Dilutive shares purchased under ESPP	—			16,387		2,349
Weighted average common shares from warrants	—			2,308,808		2,318,422
Net weighted average common shares outstanding	94,897,450			99,101,932		96,046,744
Net income (loss) per share:
Basic	$	(0.54	)	$	0.03	$	0.61
Diluted	$	(0.54	)	$	0.03	$	0.57

Potentially dilutive securities, including common equivalent shares in which the exercise price together with other assumed proceeds exceed the average market price of common stock for the applicable period, were not included in the calculation of diluted net income (loss) per share as their impact would be anti-dilutive. The following weighted-average number of outstanding employee stock options, restricted stock units and restricted stock awards, warrants to purchase common stock, and shares purchased under our ESPP were excluded from the computation of diluted net income (loss) per share for the years ended December 31:



	2015	2014	2013
Stock options outstanding	8,796,451	3,233,152	4,183,000
Restricted stock units and restricted stock awards	1,875,325	310,185	45,673
Common equivalent shares from stock warrants	2,209,214	—	—
Shares purchased under ESPP	4,594	—	—
	12,885,584	3,543,337	4,228,673