Earnings Per Share

3 Months Ended

Mar. 31, 2017

Note 3—Earnings Per Share

As of March 31, 2017, the Company had two classes of common stock, Class A and Class B. Basic and diluted earnings (loss) per share attributable to common stockholders for Class A and Class B common stock were the same because they were entitled to the same liquidation and dividend rights.

The reconciliations of the numerators and denominators of the basic and diluted earnings (loss) per share computations are as follows (in thousands, except per share amounts):


	Three Months Ended March 31,
	2017		2016
Earnings (loss) per share—basic:
Numerator:
Net income (loss)	$	4,909	$	(1,040	)
Less: Premium on repurchase of convertible preferred stock		—		(47,209	)

Net income (loss) attributable to common stockholders—basic	$	4,909	$	(48,249	)

Denominator:
Weighted-average shares outstanding		39,167		10,848

Earnings (loss) per share—basic	$	0.13	$	(4.45	)

Earnings (loss) per share—diluted:
Numerator:
Net income (loss) attributable to common stockholders—diluted	$	4,909	$	(48,249	)

Denominator:
Weighted-average shares outstanding		39,167		10,848
Options to purchase common stock		4,178		—
Employee stock purchase plan shares		170		—
Restricted stock		42		—

Weighted-average shares outstanding—diluted		43,557		10,848

Earnings (loss) per share—diluted	$	0.11	$	(4.45	)

The following table presents the anti-dilutive shares excluded from the calculation of diluted earnings (loss) per share (in thousands):


	Ended March 31,
	2017		2016
Anti-dilutive equity awards under stock-based award plans		395		5,081
Common shares issuable upon conversion of convertible preferred stock		—		22,079
Common shares issuable upon conversion of preferred stock warrants		—		461

Total shares excluded from earnings (loss) per share—diluted		395		27,621