Net (Loss) Income Per Share

6 Months Ended

Jun. 30, 2020

11.	Net (Loss) Income Per Share

Basic net (loss) income per share is calculated by dividing net (loss) income by the weighted average shares outstanding during the period, without consideration of common stock equivalents. Diluted net (loss) income per share is calculated by adjusting the weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury-stock method.

The components of basic and diluted net (loss) income per share are as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
(In thousands, except per share data)	2020			2019		2020			2019
Numerator:
Net (loss) income	$	(15,388	)	$	3,591	$	(8,715	)	$	6,411
Denominator:
Weighted average shares - basic		161,710			157,846		161,317			156,956
Common stock equivalents		—			4,131		—			2,267
Weighted average shares - diluted		161,710			161,977		161,317			159,223
Net (loss) income per share - basic	$	(0.10	)	$	0.02	$	(0.05	)	$	0.04
Net (loss) income per share - diluted	$	(0.10	)	$	0.02	$	(0.05	)	$	0.04
Antidilutive shares excluded from diluted net (loss) income per share⁽¹⁾:
Contingently issuable shares ⁽²⁾		5,000			8,214		5,000			9,107
Warrants		20,000			—		20,000			10,000
Non-qualified stock options		699			—		699			—
Performance share units		116			—		116			—
Restricted stock units		3,377			—		3,377			43
Total antidilutive shares excluded		29,192			8,214		29,192			19,150

(1)

These amounts represent the total antidilutive shares outstanding for the three and six months ended June 30, 2020 and the weighted average antidilutive shares for the three and six months ended June 30, 2019.

(2)

Contingently issuable shares relate to the earn-out agreement as discussed in Note 14, Related Party Transactions.