Net Income (Loss) per Share

12 Months Ended

Dec. 31, 2021

Basic and diluted net income (loss) per share attributable to common stockholders was calculated as follows:


	Year Ended December 31,
	2021		2020		2019

Basic net income (loss) per share:
Numerator:
Net income (loss)	$	(78,485)	$	59,337	$	(54,789)
Denominator:
Weighted average commons shares outstanding—basic	44,243,317		35,545,121		27,854,912
Net income (loss) per share—basic	$	(1.77)	$	1.67	$	(1.97)

Diluted net income (loss) per share:
Numerator:
Net income (loss) - basic	$	(78,485)	$	59,337	$	(54,789)
Interest expense on convertible note payable	—		395		—
Net income (loss) - diluted	$	(78,485)	$	59,732	$	(54,789)
Denominator:
Weighted average commons shares outstanding—basic	44,243,317		35,545,121		27,854,912
Shares issuable upon conversion of convertible notes, as if converted	—		1,282,052		—
Dilutive effect of restricted stock units	—		557,402		—
Dilutive effect of common stock equivalents	—		757,218		—
Weighted average commons shares outstanding—diluted	44,243,317		38,141,793		27,854,912
Net income (loss) per share—diluted	$	(1.77)	$	1.57	$	(1.97)

The Company’s potential dilutive securities have been excluded from the computation of diluted net loss per share for the year ended December 31, 2021, as the effect would be to reduce the net loss per share. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated above because including them would have had an anti-dilutive effect:


	Year Ended December 31,
	2021	2020
Stock Options to purchase common stock	7,057,258	3,146,458
Shares to be issued under the ESPP	1,084,476	—
RSUs issued and expected to vest	—	2,400
Shares available from conversion of note payable	832,677	—