Net Income (Loss) per Common Share (Tables)

3 Months Ended

Mar. 31, 2020

Net Income (Loss) per Common Share

Computation of basic and diluted net income (loss) per share

	Three Months Ended
	March 31,
($ in thousands except per share data)		2020		2019
Net income (loss) per share — Basic:
Net income (loss)	$	8,817	$	(10,974)
Less: Undistributed earnings to preferred stockholders		(639)		—
Net income (loss) attributable to common stockholders - basic	$	8,178	$	(10,974)
Numerator for basic net income (loss) per share	$	8,178	$	(10,974)
Denominator for basic net income (loss) per share		30,300		27,676
Basic net income (loss) per common share	$	0.27	$	(0.40)
Net income (loss) per share — Diluted:
Net income (loss)	$	8,817	$	(10,974)
Less: Warrant revaluation income for dilutive warrants		(1,101)		—
Less: Undistributed earnings to preferred stockholders		(517)		—
Numerator for diluted net income (loss) per share	$	7,199		(10,974)
Denominator for basic net income (loss) per share		30,300		27,676
Plus: Incremental shares underlying “in the money” warrants outstanding		2,710		—
Denominator for diluted net income (loss) per share		33,010		27,676
Diluted net income (loss) per common share	$	0.22	$	(0.40)

Schedule of potentially dilutive securities excluded from diluted net income (loss) per common share

	Three Months Ended
	March 31,
(in thousands)		2020	2019
Stock options		4,705	3,738
Restricted stock units		376	194
Common stock warrants		—	2,769
Future tranche rights		49,407	—
Total		54,488	6,701