Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2022

The components of basic and diluted net income (loss) per share are as follows (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2022		2021
Numerator:
Net income (loss)	$	14,521	$	(23,601)
Denominator:
Basic:
Weighted average number of common shares outstanding - basic	35,587,337		34,797,400
Diluted:
Weighted average number of common shares outstanding - basic	35,587,337		34,797,400
Dilutive effect of outstanding common stock options	1,437,748		—
Dilutive effect of restricted stock units	597,817		—
Dilutive effect of common stock pursuant to employee stock purchase plan	575		—
Weighted average number of common shares outstanding - diluted	37,623,477		34,797,400
Net income (loss) per share:
Basic	$	0.41	$	(0.68)
Diluted	$	0.39	$	(0.68)

The following outstanding potentially dilutive common stock equivalents have been excluded from the calculation of diluted net income (loss) per share for the periods presented due to their anti-dilutive effect:


	Three Months Ended March 31,
	2022	2021
Common stock options issued and outstanding	—	1,927,262
Restricted stock units	58,699	1,173,972
Employee stock purchase plan	4,385	2,951
Total	63,084	3,104,185