Quarterly report pursuant to Section 13 or 15(d)

NET INCOME (LOSS) PER SHARE

v3.19.3
NET INCOME (LOSS) PER SHARE
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER SHARE
NET INCOME (LOSS) PER SHARE
The Company computes basic net income (loss) per share using the weighted-average number of common shares outstanding during the period. Diluted net income (loss) assumes the conversion, exercise or issuance of all potential common stock equivalents, unless the effect of inclusion would be anti-dilutive. For purposes of this calculation, common stock equivalents include the Company's stock options, including those with performance or market conditions, unvested RSU's, and warrants.
The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):
 
Three months ended September 30,
 
Nine months ended September 30,
 
2019
 
2018
 
2019
 
2018
Numerator:
 
 
 
 
 
 
 
Net income (loss)
$
(1,769
)
 
$
3,295

 
$
(9,924
)
 
$
7,100

Denominator for basic and diluted net income (loss) per share:
 
 
 
 
 
 
 
Weighted average common shares outstanding for basic
98,733
 
91,639
 
97,524
 
90,959
Dilutive potential common stock outstanding:
 
 
 
 
 
 
 
Stock options and RSU's
—

 
24,160
 
—

 
19,562
Warrants
—

 
90
 
—

 
80
Weighted average common shares outstanding for diluted
98,733
 
115,889
 
97,524
 
110,601
Basic net income (loss) per share
$
(0.02
)
 
$
0.04

 
$
(0.10
)
 
$
0.08

Diluted net income (loss) per share
$
(0.02
)
 
$
0.03

 
$
(0.10
)
 
$
0.06



The following common stock equivalents were not included in the calculation of net income (loss) per diluted share because their effect were anti-dilutive (in thousands):
 
Three months ended September 30,
 
Nine months ended September 30,
 
2019
 
2018
 
2019
 
2018
Stock options
5,392

 
3,160

 
6,943

 
6,985

Performance stock options
776

 
698

 
211

 
1,465

Warrants
—

 
10

 
—

 
20

Total
6,168

 
3,868

 
7,154

 
8,470



The above table excludes 10,750,000 unvested stock options for the three and nine months ended September 30, 2019 and 2018, which vest upon the completion of future performance conditions.