Year ended December 31,

2019

2018

2017

Numerator for basic and diluted earnings (losses) per share:

Net income (loss)

$

10,167

$

12,429

$

(2,015

)

Weighted average ordinary shares outstanding:

Denominator for basic earnings (losses) per share

38,079,394

34,521,352

33,574,147

Effect of dilutive securities:

Employee share options and restricted share units

1,214,721

842,352

-

Denominator for diluted earnings (losses) per share

39,294,115

35,363,704

33,574,147

Basic earnings (losses) per share

$

0.27

$

0.36

$

(0.06

)

Diluted earnings (losses) per share

$

0.26

$

0.35

$

(0.06

)