Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2021

Note 12. Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted net income (loss) per share of common stock attributable to common stockholders:

	Three Months Ended
	March 31,
	2021		2020
	(in thousands, except per-share data)
Net income (loss)	$	8,838	$	(3,555	)

Weighted average common shares outstanding — Basic		15,551		14,495
Plus incremental shares from assumed conversions:
Dilutive effect of restricted stock		517		—
Dilutive effect of stock options		1,458		—
Dilutive effect of warrants		550		—
Weighted average common shares outstanding — Diluted		18,076		14,495
Net income (loss) per share:
Basic	$	0.57	$	(0.25	)
Diluted	$	0.49	$	(0.25	)

Incremental shares from stock options and restricted stock awards are computed using the treasury stock method. The weighted average shares listed below were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented or were otherwise excluded under the treasury stock method. The treasury stock method calculates dilution assuming the exercise of all in-the-money options and vesting of restricted stock, reduced by the repurchase of shares with the proceeds from the assumed exercises and unrecognized compensation expense for outstanding awards.

	Three Months Ended
	March 31,
	2021		2020
	(in thousands)
Stock options		97		2,147
Warrants		—		550
Unvested restricted stock awards		3		406
Total		100		3,103