Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2022

15. Net Income (Loss) Per Share

The following is a reconciliation of the weighted average common shares outstanding used to compute basic and diluted net income (loss) per share:


	2022		2021		2020
Basic weighted average common shares outstanding		35,184,336		34,903,189		34,691,063
Effect of dilutive securities - equity compensation awards		—		549,366		—
Diluted weighted average common shares outstanding		35,184,336		35,452,555		34,691,063

Equity compensation awards for which total employee proceeds from exercise exceed the average fair value of the same equity instrument over the period have an anti-dilutive effect on earnings per share during periods with net income, and accordingly, are excluded from diluted weighted average common shares outstanding. Anti-dilutive equity instruments of 358,706 common shares were excluded from the computation of diluted net income per share for the year ended December 31, 2021. Due to the

net loss during the years ended December 31, 2022 and 2020, the assumed exercise of all equity instruments was anti-dilutive and, therefore, not included in the diluted loss per share calculation for those periods.