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Net Income (Loss) per Share
9 Months Ended
Sep. 30, 2018
Net Income (Loss) per Share  
Net Loss per Share

5.     Net Income (Loss) per Share

 

Basic net income (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the weighted average number of shares of common stock of the Company outstanding during the period. The Company computed net income (loss) per share of common stock using the treasury stock method for the three and nine months ended September 30, 2018 and September 30, 2017, respectively. Diluted net income (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period plus the impact of dilutive securities, to the extent that they are not anti-dilutive. The following table presents the calculation of basic and diluted net income (loss) per share for the Company’s common stock:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30, 

 

September 30, 

 

    

2018

    

2017*

    

2018

    

2017*

Numerator:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to common stockholders, basic and diluted

 

$

10,416

 

$

6,165

 

$

(36,704)

 

$

1,889

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock outstanding, basic

 

 

19,217,623

 

 

16,699,102

 

 

18,989,334

 

 

16,483,169

Denominator (diluted):

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock outstanding

 

 

19,217,623

 

 

16,699,102

 

 

18,989,334

 

 

16,483,169

Effect of potential dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average dilutive effect of stock options

 

 

1,898,543

 

 

1,235,883

 

 

 —

 

 

1,308,202

Weighted average dilutive effect of restricted shares

 

 

898,821

 

 

711,046

 

 

 —

 

 

607,988

Weighted average dilutive effect of contingently issuable shares

 

 

273,886

 

 

 —

 

 

 —

 

 

 —

Weighted average dilutive effect of common shares from warrants

 

 

 —

 

 

 —

 

 

 —

 

 

12,441

Weighted average shares of common stock outstanding, diluted

 

 

22,288,873

 

 

18,646,031

 

 

18,989,334

 

 

18,411,800

Net income (loss) per share attributable to common stockholders, basic

 

$

0.54

 

$

0.37

 

$

(1.93)

 

$

0.11

Net income (loss) per share attributable to common stockholders, diluted

 

$

0.47

 

$

0.33

 

$

(1.93)

 

$

0.10

 

*As adjusted. See Note 3 for additional information.

 

The following potential common shares, presented based on amounts outstanding or shares contingently issuable for the nine months ended September 30, 2018, were excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect:

 

 

 

 

 

 

Nine Months Ended

 

 

September 30, 

 

    

2018

Stock options to purchase common stock

 

2,566,855

Unvested restricted stock

 

1,063,681

Contingently issuable shares

 

142,679

 

 

3,773,215