Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2022

NOTE 13 – NET INCOME (LOSS) PER SHARE

The following table sets forth the computation of basic and diluted shares (in thousands):


	Years Ended December 31,
	2022		2021		2020
Denominator:
Weighted average common shares outstanding		104,336		104,735		82,840
Total common shares-basic		104,336		104,735		82,840
Effect of dilutive securities:
Options		—		17		1
Restricted stock awards		3,244		2,513		1,015
Total common shares-diluted		107,580		107,265		83,856

Basic net income (loss) per share is computed using the weighted average number of shares of common stock outstanding during the period, excluding any unvested restricted stock awards that are subject to repurchase. Diluted net income (loss) per share is computed using the treasury stock method to calculate the weighted average number of shares of common stock and, if dilutive, potential common shares outstanding during the period. Potentially dilutive common shares include unvested restricted stock awards and incremental common shares issuable upon the exercise of stock options, less shares repurchased from assumed proceeds. The assumed proceeds calculation includes actual proceeds to be received from the employee upon exercise and the average unrecognized stock compensation cost during the period.

For the years ended December 31, 2022, 2021 and 2020, 1.8 million, 2.8 million and 2.1 million shares, respectively, subject to stock options and restricted stock awards were excluded from the computation of diluted net income per share as they were anti-dilutive.