Earnings Per Common Share

Basic and diluted net income (loss) per common share is calculated as follows (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)	$	4,774		$	(2,569	)	$	2,338		$	(14,171	)
Less: Net Income (loss) attributable to noncontrolling interest	(1,016		)	(1,071		)	(1,535		)	(1,615		)
Net income (loss) attributable to On Deck Capital, Inc. common stockholders	$	5,790		$	(1,498	)	$	3,873		$	(12,556	)
Denominator:
Weighted-average common shares outstanding, basic	74,385,446			72,688,815			74,182,929			72,276,734
Net income (loss) per common share, basic	$	0.08		$	(0.02	)	$	0.05		$	(0.17	)
Effect of dilutive securities	3,902,821			—			3,603,819			—
Weighted-average common shares outstanding, diluted	78,288,267			72,688,815			77,786,748			72,276,734
Net income (loss) per common share, diluted	$	0.07		$	(0.02	)	$	0.05		$	(0.17	)
Anti-dilutive securities excluded	5,174,846			12,018,301			5,351,219			12,069,791

The difference between basic and diluted income per common share has been calculated using the Treasury Stock Method based on the assumed exercise of outstanding stock options, the vesting of restricted stock awards, and the issuance of stock under our employee stock purchase plan. The following common share equivalent securities have been included in the calculation of dilutive weighted-average common shares outstanding:



	Three Months Ended June 30,		Six Months Ended June 30,
	2018	2017	2018	2017
Dilutive Common Share Equivalents
Weighted Average common shares outstanding	74,385,446	72,688,815	74,182,929	72,276,734
Restricted stock units	1,018,066	—	768,172	—
Stock options	2,860,430	—	2,830,587	—
Employee stock purchase program	24,325	—	5,060	—
Total dilutive common share equivalents	78,288,267	72,688,815	77,786,748	72,276,734

The following number of shares of common stock were excluded from the calculation of diluted net income per share attributable to common stockholders. Their effect would have been antidilutive for the three and six months ended June 30, 2018 and 2017:



	Three Months Ended June 30,		Six Months Ended June 30,
	2018	2017	2018	2017
Anti-Dilutive Common Share Equivalents
Warrants to purchase common stock	22,000	22,000	22,000	22,000
Restricted stock units	429,942	2,757,192	600,632	2,757,192
Stock options	4,722,904	9,159,794	4,728,587	9,159,794
Employee stock purchase program	—	79,315	—	130,805
Total anti-dilutive common share equivalents	5,174,846	12,018,301	5,351,219	12,069,791

The weighted-average exercise price for warrants to purchase 2,007,846 shares of common stock was $10.70 as of June 30, 2018. For the three months and six months ended June 30, 2018 and 2017, a warrant to purchase 1,985,846 and 1,985,846 shares of common stock, respectively, was excluded from anti-dilutive common share equivalents as performance conditions had not been met.