NET INCOME (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2020

NET INCOME (LOSS) PER SHAREBasic net (loss) income per share is calculated by dividing the net (loss) income by the weighted-average number of shares of common stock outstanding during the period. Diluted net (loss) income per share is calculated by dividing the net income by the weighted-average number of shares of common stock outstanding during the period, plus potentially dilutive

common shares, consisting of stock options and convertible debt. The 12,430,913 shares of common stock issuable upon the exercise of warrants are included in the number of outstanding shares used for the computation of basic and diluted loss per share (see Note 2, Acquisitions). The Company uses the treasury-stock method to compute diluted earnings per share with respect to its stock options and equivalents. The Company uses the if-converted method to compute diluted earnings per share with respect to its convertible debt. For purposes of this calculation, options to purchase stock are considered to be potential common shares and are only included in the calculation of diluted net (loss) income per share when their effect is dilutive. The following table reflects the calculation of basic and diluted earnings per common share for the three and six months ended June 30, 2020 and 2019 (in thousands, except for per share amounts):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Basic net income (loss) per share
Net (loss) income	$	(34,499)	$	(13,605)	$	6,731	$	(27,906)
Weighted average common shares and warrants outstanding	98,558		64,480		89,835		64,405
Basic net (loss) income per share	$	(0.35)	$	(0.21)	$	0.07	$	(0.43)

Diluted net income (loss) per share
Net (loss) income	$	(34,499)	$	(13,605)	$	6,731	$	(27,906)

Weighted average common shares and warrants outstanding	98,558		64,480		89,835		64,405
Add: effect of dilutive stock options, awards, and equivalents	—		—		401		—
Denominator for diluted income (loss) per share	98,558		64,480		90,236		64,405
Diluted net loss per share	$	(0.35)	$	(0.21)	$	0.07	$	(0.43)

The following table reflects outstanding potentially dilutive common shares that are not included in the computation of diluted net income (loss) per share, because to do so would be anti-dilutive, for the three and six months ended June 30, 2020 and 2019 (in thousands):


	Three Months Ended June 30,			Six Months Ended June 30,
	2020	2019	2020	2019
2.5% Convertible Notes debt 2021	234	17,931	2,685	17,931
5.0% Convertible Notes debt 2024	1,105	—	13,738	—

Stock options, awards and equivalents	10,500	7,027	7,826	6,568
Total potentially dilutive common shares	11,839	24,958	24,249	24,499