Net Income (Loss) Per Ordinary Share

12 Months Ended

Dec. 31, 2023

Net Income (Loss) Per Ordinary Share

Net income (loss) per ordinary share was determined as follows (in thousands, except per share amounts):


	Year Ended December 31,
	2023		2022		2021
Numerator:
Net income (loss)	$	(147,028)	$	(116,949)	$	66,975
Denominator:
Weighted-average ordinary shares outstanding used in per share calculations - basic	53,216		47,369		44,228
Dilutive effect of shares issuable under equity incentive plans	—		—		4,236
Weighted-average ordinary shares outstanding used in per share calculations - diluted	53,216		47,369		48,464
Net income (loss) per share:
Basic net income (loss) per ordinary share	$	(2.76)	$	(2.47)	$	1.51
Diluted net income (loss) per ordinary share	$	(2.76)	$	(2.47)	$	1.38

Potentially issuable ordinary shares were not used in computing diluted net loss per ordinary share as their effect would be anti-dilutive due to the loss recorded during the years ended December 31, 2023 and 2022, and therefore diluted net loss per share is equal to basic net loss per share. During the year ended December 31, 2021, diluted net income per ordinary share is computed by dividing net income by the weighted average ordinary shares outstanding during the period plus potentially dilutive ordinary equivalent shares outstanding.

The equivalent ordinary shares not included in diluted net income (loss) per share because their effect would be anti-dilutive are as follows (in thousands):


	Year Ended December 31,
	2023	2022	2021
Stock options to purchase ordinary shares	9,866	9,480	382
Restricted Stock Units (RSU)	25	23	—
Total	9,891	9,503	382