Net Income (Loss) Per Share Attributable to Common Stockholders

The following table presents the basic and diluted net income (loss) per share attributable to common stockholders:



	Year Ended
	December 31, 2016			December 31, 2015			December 31, 2014

	(In thousands, except per share data)
Basic EPS:
Net income (loss) attributable to common stockholders	$	(18,053	)	$	422		$	(19,789	)
Weighted-average common shares outstanding	48,512			42,067			29,921
Weighted-average unvested restricted shares	(1,857		)	(1,677		)	(1,704		)
Weighted-average escrow shares	—			(727		)	—
Weighted-average common shares outstanding used to compute net income (loss) per share	46,655			39,663			28,217
Basic net income (loss) per share	$	(0.39	)	$	0.01		$	(0.70	)
Diluted EPS:
Net income (loss)	$	(18,053	)	$	422		$	(19,789	)
Weighted-average common shares used in basic EPS	46,655			39,663			28,217
Dilutive effect of weighted-average common stock options	—			2,510			—
Dilutive effect of weighted-average restricted stock awards	—			532			—
Dilutive effect of weighted-average restricted stock units	—			426			—
Dilutive effect of weighted-average ESPP	—			25			—
Dilutive effect of weighted-average escrow shares	—			591			—
Dilutive effect of weighted-average contingent shares	—			748			—
Weighted-average shares used to compute diluted net income (loss) per share	46,655			44,495			28,217
Diluted net income (loss) per share	$	(0.39	)	$	0.01		$	(0.70	)

The following weighted-average shares have been excluded from the calculation of diluted net income (loss) per share attributable to common stockholders for each period presented because they are anti-dilutive:



	December 31, 2016	December 31, 2015	December 31, 2014

	(in thousands)
Options to purchase common stock	951	—	8,113
Unvested restricted stock awards	414	—	1,750
Unvested restricted stock units	611	—	845
Shares held in escrow	392	—	125
ESPP	30	—	—
Contingent shares	—	704	—
Conversion of convertible preferred stock	—	—	—
Conversion of preferred stock warrants	—	—	—
Total shares excluded from net income (loss) per share	2,398	704	10,833

Prior to December 31, 2015, shares contingently issuable if certain milestones were achieved on December 31, 2015 related to business combinations that occurred during the year ended December 31, 2014 were excluded from the calculation of diluted net income (loss) per share attributable to common stockholders for the year ended December 31, 2014.

In connection with the acquisition of Chango, which occurred during the year ended December 31, 2015, the Company agreed to pay up to $18.2 million of contingent consideration in addition to 126,098 shares held in escrow, if certain milestones were achieved by December 31, 2015. The Company had the option to pay the contingent consideration in cash or common stock, or a combination thereof. As of December 31, 2015, the entire contingent consideration issuable in connection with the Chango acquisition was deemed earned (See Note 7). The Company elected to pay the contingent consideration in shares, with the number of shares issued in connection with the contingent consideration based on the greater of the volume-weighted-average closing prices of the Company's common stock for the ten consecutive trading days ending on (and including) the trading day that is one day prior to December 31, 2015 and $18.77. On December 31, 2015, the Company issued 971,481 shares in connection with the contingent consideration and released 126,098 shares from escrow. These shares were included in the calculation of basic net income (loss) per share attributable to common stockholders effective December 31, 2015, the date of issuance, and were included in the calculation of diluted net income (loss) per share attributable to common stockholders for periods between the date of acquisition and immediately prior to December 31, 2015.

In connection with the acquisition of iSocket, Inc., or iSocket, which occurred during the year ended December 31, 2014, the Company was required to issue up to $9.6 million of contingent consideration payable in shares of common stock if certain performance milestones were achieved by December 31, 2015. The number of shares issued was based on the average closing price of the Company's common stock for the ten consecutive trading days ending on (and including) the last trading day of 2015. On December 31, 2015, the Company issued 585,170 shares in connection with the contingent consideration. These shares were included in the calculation of basic net income (loss) per share attributable to common stockholders effective December 31, 2015, the date of issuance, and were excluded in the calculation of diluted net income (loss) per share attributable to common stockholders for periods between the date of acquisition and immediately prior to December 31, 2015 because they were anti-dilutive.

For the year ended December 31, 2014 the Company increased net loss by $1.1 million for cumulative preferred stock dividends in determining its net loss attributable to common stockholders. Upon the completion of the Company’s IPO in April 2014, all of the preferred stock converted to common stock and accordingly, after the IPO the Company was no longer required to increase its net loss for preferred stock dividends in determining its net loss attributable to common stockholders.