Earnings per share

3 Months Ended

Mar. 31, 2020

Earnings per share

Earnings per share

7. Earnings per share

The following table presents the calculation of basic and diluted net income per share:

	Three months ended
	March 31,
		2020		2019
Numerator:
Net income (loss)	$	(16,926)	$	21,901
Denominator:
Weighted-average number of shares - basic		47,988,630		30,299,650
Dilutive securities - share-based awards		—		1,052,730
Dilutive securities - common stock warrants		—		109,316
Weighted-average number of shares - diluted		47,988,630		31,461,696
Net income (loss) per share - basic	$	(0.35)	$	0.72
Net income (loss) per share - diluted	$	(0.35)	$	0.70

Anti-dilutive stock-based awards excluded from the calculation of diluted EPS for the three months ended March 31, 2019 were 2,686,700.

For the three months ended March 31, 2020, potentially dilutive securities were excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive, therefore basic and diluted net loss per share were the same for the three months ended March 31, 2020.