NET INCOME (LOSS) PER SHARE - Note 2

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Net Income (Loss) Per Share - Note 2

2. NET INCOME (LOSS) PER SHARE

Basic net income (loss) per share is calculated using the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share is calculated using the weighted-average number of common shares outstanding and taking into account the dilutive effect of all potential common stock equivalents outstanding. Potentially dilutive common stock equivalents primarily consist of options, warrants and nonvested restricted stock units (RSUs). Net loss per share for the three months ended September 30, 2019 and the nine months ended September 30, 2019 and 2018, assuming dilution, is equal to basic net loss per share because the effect of dilutive securities outstanding during the period, including options and RSUs computed using the treasury stock method, is anti-dilutive. Basic net income per share for the three months ended September 30, 2018 is diluted by the potentially dilutive outstanding securities per the table below.

The components of basic and diluted net income (loss) per share were as follows (in thousands, except per share data):

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2019		2018		2019		2018
Numerator:
Net income (loss) available for common shareholders - basic	$	(6,141)	$	289	$	(23,199)	$	(15,302)
Denominator:
Weighted-average common shares outstanding - basic		114,874		93,073		107,953		84,388
Dilutive incremental share effect from:
Options		-		1		-		-
Nonvested restricted stock units		-		130		-		-
Weighted-average common shares outstanding - diluted		114,874		93,204		107,953		84,388
Net income (loss) per share - basic	$	(0.05)	$	0.00	$	(0.21)	$	(0.18)
Net income (loss) per share - diluted	$	(0.05)	$	0.00	$	(0.21)	$	(0.18)

For the three and nine months ended September 30, 2019, we excluded the following securities from net income (loss) per share as the effect of including them would have been anti-dilutive: options outstanding exercisable into a total of 5,206,000 shares of common stock and 1,247,000 nonvested RSUs. For the three and nine months ended September 30, 2018, we excluded the following securities from net income (loss) per share as the effect of including them would have been anti-dilutive: options outstanding and warrants exercisable into a total of 7,586,000 and 7,587,000 shares of common stock, respectively, and 1,050,000 and 1,180,000 nonvested RSUs, respectively.