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Earnings Per Share
 6 Months Ended
Jun. 30, 2020
Earnings Per Share  
Earnings Per Share

10. Earnings Per Share

The following table sets out earnings per share of common stock:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended June 30, 

 

Six months ended June 30, 

 

    

2020

    

2019

    

2020

    

2019

 

 

(in thousands, except shares and per share data)

 

(in thousands, except shares and per share data)

Net income (loss)

 

$

12,012

 

$

6,698

 

$

23,785

 

$

(7,712)

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

24,343,425

 

 

21,975,962

 

 

24,231,344

 

 

19,501,727

Common Share equivalents

 

 

713,604

 

 

129,047

 

 

691,286

 

 

 —

Diluted

 

 

25,057,029

 

 

22,105,009

 

 

24,922,630

 

 

19,501,727

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.49

 

$

0.30

 

$

0.98

 

$

(0.40)

Diluted

 

$

0.48

 

$

0.30

 

$

0.95

 

$

(0.40)

 

Common share equivalents relate primarily to outstanding stock options and RSUs under the 2019 Plan and unpurchased shares under the 2019 ESPP. For the six months ended June 30, 2019, there were 64,880 common share equivalents excluded from the calculation of diluted earnings per share as their effects were anti-dilutive.