Year ended December 31,

2021

2020

2019

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

Net income (loss)

$

15,527

$

(4,783

)

$

10,167

Weighted average ordinary shares outstanding:

Denominator for basic earnings (losses) per share

47,079,358

42,286,275

38,079,394

Effect of dilutive securities:

Employee share options, RSUs, PSUs and Warrants

1,520,737

-

1,214,721

Denominator for diluted earnings (losses) per share

48,600,095

42,286,275

39,294,115

Basic earnings (losses) per share

$

0.33

$

(0.11

)

$

0.27

Diluted earnings (losses) per share

$

0.32

$

(0.11

)

$

0.26