Net (Loss) Income per Common Share

6 Months Ended

Jun. 30, 2023

Net (Loss) Income per Common ShareBasic net (loss) income per share is computed based on the weighted-average number of common shares outstanding. Diluted net (loss) income per share is computed based on the weighted-average number of common shares outstanding, increased by the number of additional shares that would have been outstanding had potentially dilutive common shares been issued and reduced by the number of shares the Company could have repurchased from the proceeds from issuance of the potentially dilutive shares. Potentially dilutive shares of common stock include stock options and other stock-based awards granted under stock-based compensation plans and shares committed to be purchased under the employee stock purchase plan. Performance stock units are excluded from the calculation of dilutive potential common shares until the performance conditions have been satisfied. Anti-dilutive options were excluded from the calculation of diluted weighted average shares outstanding and were 380,848 and 220,776 for the three months ended June 30, 2023 and 2022, respectively, and 407,119 and 208,840 for the six months ended June 30, 2023 and 2022, respectively.

The table below sets forth the computation of basic and diluted net (loss) income per share:



	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except share and per share amounts)	2023		2022		2023		2022
Net (loss) income	$	(383)	$	2,557	$	2,276	$	7,652

Basic - weighted-average shares outstanding:	26,210,478		27,530,739		26,414,467		27,515,583
Effect of dilutive securities:
Employee stock options and other1	—		6,084		30,960		8,436
Diluted - weighted-average shares outstanding:	26,210,478		27,536,823		26,445,427		27,524,019
Net (loss) income per share:
Basic	$	(0.01)	$	0.09	$	0.09	$	0.28
Diluted	$	(0.01)	$	0.09	$	0.09	$	0.28


1 For the three months ended June 30, 2023, 14,084 of dilutive securities for employee stock options and other were not included in the diluted weighted average shares outstanding due to the net loss for the three months ended June 30, 2023.