Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2024

Note 14. Net Income (Loss) Per Share

Basic weighted-average shares outstanding excludes nonvested restricted stock. Diluted weighted average shares outstanding is similar to basic weighted-average shares outstanding, except that the weighted-average number of shares is increased to include the number of additional common shares that would have been outstanding if the potentially dilutive common share had been issued, including the dilutive impact of nonvested restricted stock. The potentially dilutive securities outstanding during the three and six months ended June 30, 2024, had an anti-dilutive effect and were therefore not included in the calculation of diluted net income (loss) per share. Basic and diluted net income (loss) per share was calculated as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024			2023
Basic net income (loss) per share	$	0.01	$	0.07	$	(0.01	)	$	0.08
Diluted net income (loss) per share	$	0.01	$	0.07	$	(0.01	)	$	0.08
Numerator:
Net income (loss) (in thousands)	$	1,861	$	9,782	$	(1,047	)	$	11,707
Denominator:
Weighted average number of shares outstanding - basic		143,863,667		144,112,028		143,727,612			144,982,459
Add stock options to purchase shares and restricted stock units		1,992,445		1,226,892		—			1,912,331
Weighted average number of shares outstanding - diluted		145,856,112		145,338,920		143,727,612			146,894,790

For the three months ended June 30, 2024 and 2023, 901,391 and 4,961,441 stock options and RSUs were excluded from the calculation of diluted net income (loss) per share, respectively, because their effect was anti-dilutive. For the six months ended June 30, 2024 and 2023, 2,974,538 and 4,681,847 stock options and RSUs were excluded from the calculation of diluted net income (loss) per share, respectively, because their effect were anti-dilutive.