Net Income Per Share (Tables)

6 Months Ended

Jun. 30, 2020

Net Income Per Share

Computation of Basic and Diluted Net Income Per Share Attributable to the Company

The following table sets forth the computation of the basic and diluted net income per share (in thousands, except share and per share data):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Basic net income per share
Numerator:
Net income	$	59,031	$	23,567	$	94,603	$	3,563
Denominator:
Weighted-average common shares outstanding		71,099,773		69,479,016		70,880,979		69,310,791
Basic net income per share	$	0.83	$	0.34	$	1.33	$	0.05
Diluted net income per share
Numerator:
Net income	$	59,031	$	23,567	$	94,603	$	3,563
Add interest expense on convertible notes, net of tax		3,454		—		5,936		—
Numerator for diluted net income per share		62,485		23,567		100,539		3,563
Denominator:
Denominator for basic net income per share		71,099,773		69,479,016		70,880,979		69,310,791
Add effect of potential dilutive securities:
Stock options, including purchases from contributions to ESPP		3,208,580		3,469,172		3,437,358		2,953,049
Restricted stock units		104,092		15,784		96,163		17,724
Shares issuable upon conversion of convertible notes		14,247,835		—		9,360,853		—
Denominator for diluted net income per share		88,660,280		72,963,972		83,775,353		72,281,564
Diluted net income per share	$	0.70	$	0.32	$	1.20	$	0.05

Outstanding Dilutive Potential Shares Excluded from Calculation of Diluted Net Income Per Share Attributable to Coherus

The following outstanding dilutive potential shares were excluded from the calculation of diluted net income per share due to their anti-dilutive effect:

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2020	2019	2020	2019
Stock options, including purchases from contributions to ESPP	12,739,884	10,341,798	11,378,471	10,195,378
Restricted stock units	8,750	—	6,442	—
Shares issuable upon conversion of Convertible Notes	—	4,473,871	—	4,473,871
Total	12,748,634	14,815,669	11,384,913	14,669,249