10. Net Income (Loss) Per Share

For the three months ended June 30, 2018, the two class method was used in the computation as it was the more dilutive of the two approaches. For the six months ended June 30, 2018, and three and six months ended June 30, 2017, earnings was not allocated to participating securities in the calculation of basic and diluted earnings per share as there were net losses. For the six months ended June 30, 2018, and the three and six months ended June 30, 2017, the net loss available to common shareholders was divided by the weighted-average number of common shares outstanding during the period to calculate diluted earnings per share. For the six months ended June 30, 2018, and three and six months ended June 30, 2017, the assumed exercise of stock options and assumed vesting of restricted stock and restricted stock units were not included in the computation of net income (loss) per share as their effect would have been anti-dilutive.

The following presents a reconciliation of the numerator and denominator used in the calculation of basic net income (loss) per share and a reconciliation of the numerator and denominator used in the calculation of diluted net income (loss) per share (in thousands, except share and per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Numerator:
Net income (loss), as reported	$	695		$	(496	)	$	(504	)	$	(1,571	)
Less: net income (loss) attributable to participating securities		(29	)		—			—			—

Net income (loss) available to common shareholders—basic	$	666		$	(496	)	$	(504	)	$	(1,571	)

Denominator:
Basic:
Weighted-average shares of common stock outstanding		42,188,672			41,877,473			42,252,027			41,674,671
Less: weighted-average shares of unvested restricted common stock outstanding		(1,770,364	)		(2,220,402	)		(1,815,432	)		(2,107,417	)

Weighted-average number of common shares used in computing basic net income (loss) per common share		40,418,308			39,657,071			40,436,595			39,567,254

Net income (loss) per share applicable to common shareholders—basic	$	0.02		$	(0.01	)	$	(0.01	)	$	(0.04	)


	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Numerator:
Net income (loss) available to common shareholders—basic	$	666		$	(496	)	$	(504	)	$	(1,571	)
Add-back: undistributed earnings allocated to unvested shareholders		—			—			—			—
Less: undistributed earnings reallocated to unvested shareholders		—			—			—			—

Net income (loss) available to common shareholders—diluted	$	666		$	(496	)	$	(504	)	$	(1,571	)


	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Denominator:
Diluted:
Weighted-average shares of common stock outstanding		42,188,672			41,877,473			42,252,027			41,674,671
Less: weighted-average shares of unvested restricted common stock outstanding		(1,770,364	)		(2,220,402	)		(1,815,432	)		(2,107,417	)
Weighted-average number of common shares issuable upon exercise of outstanding stock options		119,544			—			—			—

Weighted-average number of common shares used in computing diluted net income (loss) per common share		40,537,852			39,657,071			40,436,595			39,567,254

Net income (loss) per share applicable to common shareholders—diluted	$	0.02		$	(0.01	)	$	(0.01	)	$	(0.04	)

The following common share equivalents have been excluded from the computation of diluted weighted-average shares outstanding, as their effect would have been anti-dilutive:


	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Options		543,794		887,329		846,046		919,875
Unvested restricted stock		643,109		839,791		641,825		695,645
Unvested restricted stock units		57,158		83,469		67,219		71,526