EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2020

EARNINGS PER SHARE

Basic earnings (loss) per share (“EPS”) is computed based on the weighted-average number of shares of common stock outstanding. Diluted EPS is computed based on the weighted-average number of shares of common stock outstanding plus common stock equivalents, where dilutive. For the three and nine month period ended September 30, 2020, 1.4 million and 1.3 million dilutive shares were excluded from the computation of shares contingently issuable upon exercise as we recognized a net loss. Outstanding stock-based awards that were anti-dilutive and excluded from the calculation of diluted EPS were approximately 2.3 million and 2.3 million shares for the three and nine month periods ended September 30, 2020, and approximately 0.4 million and 0.6 million shares for the three and nine month periods ended September 30, 2019, respectively. The following is a calculation of basic and diluted earnings per share and weighted-average shares outstanding (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Net income (loss)	$	(27,322)	$	4,381	$	(32,010)	$	9,030

Weighted-average shares outstanding—basic	47,955		48,974		48,503		48,668
Add shares issuable from stock-based awards	—		3,163		—		2,930
Weighted-average shares outstanding—diluted	47,955		52,137		48,503		51,598

Basic earnings (loss) per share	$	(0.57)	$	0.09	$	(0.66)	$	0.19
Diluted earnings (loss) per share	$	(0.57)	$	0.08	$	(0.66)	$	0.18