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NET INCOME (LOSS) PER COMMON SHARE

12 Months Ended

Dec. 31, 2022

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE

NOTE 23. NET INCOME (LOSS) PER COMMON SHARE

Basic net income (loss) per common share is computed using the two–class method, which is an earnings allocation formula that determines net income (loss) per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. Under the two–class method, basic net income (loss) per common share is determined by dividing net income (loss), after deducting amounts allocated to participating securities, by the weighted average number of common shares outstanding for the period. Participating securities include unvested restricted stock and stock–settled restricted stock units that have nonforfeitable rights to receive dividends or dividend equivalents, whether paid or unpaid. During periods of net loss, only distributed earnings (dividends) are allocated to participating securities, as participating securities do not have a contractual obligation to participate in our undistributed losses.

Diluted net income (loss) per common share is computed using the weighted average number of shares outstanding adjusted for the incremental common stock equivalents attributed to outstanding options, performance–based restricted stock units and stock to be issued pursuant to our ESPP unless their effect would be anti–dilutive.

The following table shows the calculations for net income (loss) attributable to common stockholders and potential shares of common stock, which is used in the calculation of basic and diluted net income (loss) per common share:

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​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​	​	2022			2021			2020
Net income (loss)	​	$	44,296	​	$	28,217	​	$	(68,445)
Allocation of earnings to participating securities	​		(1,429)	​		(1,172)	​		(1,338)
Net income (loss) attributable to common stockholders	​	$	42,867	​	$	27,045	​	$	(69,783)
​	​	​	​	​	​	​	​	​	​
Weighted average common shares outstanding used in basic income (loss) per common share	​	​	153,281	​	​	151,684	​	​	150,828
Effect of dilutive securities:	​	​	​	​	​	​	​	​	​
Performance-based restricted stock units	​	​	125	​	​	144	​	​	—
ESPP shares	​	​	4	​	​	2	​	​	—
Weighted average common shares outstanding used in diluted income (loss) per common share	​	​	153,410	​	​	151,830	​	​	150,828
​	​	​	​	​	​	​	​	​	​
Anti-dilutive shares excluded from diluted income (loss) per common share	​	​	​	​	​	​	​	​	​
Stock options	​	​	—	​	​	31	​	​	96
Performance-based restricted stock units	​	​	—	​	​	—	​	​	54
ESPP shares	​	​	—	​	​	—	​	​	17
Net dilutive potential common shares issuable	​	​	—	​	​	31	​	​	167

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI https://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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