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Net Income (Loss) Per Share
 9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Net income (loss) per share

Note 9 ̶ Net income (loss) per share

The Company computes basic earnings per share using the weighted average number of common shares outstanding. As the Company incurred a net loss attributable to common stockholders during the three and nine months ended September 30, 2016, basic and diluted weighted average shares outstanding are the same in those periods. A portion of the net loss attributable to common stockholders in prior periods reflects the accretion of preferred stock to the maximum redemption value. All outstanding shares of convertible preferred stock converted to common stock and the accreted value was reclassified into common stock and additional paid-in capital in the three months ended September 30, 2016.

The following is a reconciliation of the numerator and denominator in the basic and diluted net income (loss) per common share computations (in thousands, except share and per share data):

 

 

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

5,865

 

 

$

(2,377

)

 

$

11,995

 

 

$

(1,288

)

Adjustments to numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dividend paid to preferred stockholders

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(66,531

)

Accretion of convertible preferred stock to maximum

   redemption value

 

 

-

 

 

 

(371,228

)

 

 

-

 

 

 

(436,317

)

Net income (loss) attributable to common stockholders

 

$

5,865

 

 

$

(373,605

)

 

$

11,995

 

 

$

(504,136

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding - basic

 

 

45,813,801

 

 

 

5,109,016

 

 

 

45,132,567

 

 

 

2,151,324

 

Diluted common equivalents from stock options

 

 

3,241,620

 

 

 

-

 

 

 

4,064,723

 

 

 

-

 

Diluted common equivalents from restricted stock units

 

 

227,826

 

 

 

-

 

 

 

256,394

 

 

 

-

 

Diluted common equivalents from restricted stock awards

 

 

-

 

 

 

-

 

 

 

8,482

 

 

 

-

 

Weighted average common shares outstanding - diluted

 

 

49,283,247

 

 

 

5,109,016

 

 

 

49,462,166

 

 

 

2,151,324

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.13

 

 

$

(73.13

)

 

$

0.27

 

 

$

(234.34

)

Diluted

 

$

0.12

 

 

$

(73.13

)

 

$

0.24

 

 

$

(234.34

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Anti-dilutive securities excluded from diluted EPS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

601,749

 

 

 

7,083,483

 

 

 

503,516

 

 

 

7,083,483

 

Restricted stock units

 

 

444,274

 

 

 

596,217

 

 

 

13,688

 

 

 

596,217

 

Restricted stock awards

 

 

302,200

 

 

 

-

 

 

 

-

 

 

 

-

 

Total

 

 

1,348,223

 

 

 

7,679,700

 

 

 

517,204

 

 

 

7,679,700