Net Income (Loss) per Share

6 Months Ended

Jun. 30, 2021

10. Net Income (Loss) per Share

Basic net income (loss) per share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share is calculated by dividing the net income attributable to common stockholders by the weighted-average number of common share equivalents outstanding for the period, including any dilutive effect from outstanding stock options.

Basic and diluted net income (loss) per share attributable to common stockholders was calculated as follows (in thousands, except share and per share amounts):


	Three Months Ended June 30,					Six Months Ended June 30,
	2021		2020			2021		2020
Basic net income (loss) per common share:
Numerator:
Net income (loss)	$	17,144	$	(36,288	)	$	43,666	$	(50,570	)
Denominator:
Weighted average common shares outstanding—basic		75,254,186		62,282,291			75,222,119		61,145,254
Net income (loss) per share—basic	$	0.23	$	(0.58	)	$	0.58	$	(0.83	)
Diluted net income (loss) per common share:
Numerator:
Net income (loss)	$	17,144	$	(36,288	)	$	43,666	$	(50,570	)
Denominator:
Weighted average common shares outstanding—diluted		80,026,488		62,282,291			79,994,422		61,145,254
Net income (loss) per share—diluted	$	0.21	$	(0.58	)	$	0.55	$	(0.83	)

The Company excluded 3,790 shares and 11,149 shares of restricted common stock, presented on a weighted average basis, from the calculations of basic net loss per share attributable to common stockholders for the three and six months ended June 30, 2020, respectively, because those shares had not vested. As of June 30, 2021, there are no unvested shares of restricted common stock.

The Company excluded the following potential shares of common stock, presented based on amounts outstanding at each period end, from the computation of diluted net income (loss) per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect:


	Six Months Ended June 30,
	2021		2020
Options to purchase common stock		3,608,932		10,494,989
Unvested restricted common stock		—		1,691

		3,608,932		10,496,680