Net Income (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2022

Components of Basic and Diluted Net Income (Loss) Per Share

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)

Summary of Outstanding Potentially Dilutive Common Stock Equivalents Excluded from Calculation of Diluted Net Loss Per Share

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