Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2020

12. Net Income (Loss) Per Share

A reconciliation of net income (loss) available to common stockholders and the number of shares in the calculation of basic and diluted net income (loss) per share follows (in thousands, except share and per share amounts):


	Year Ended
	December 31,
	2020		2019		2018
Basic net income (loss) per common share:
Numerator:
Net income (loss)	$	46,459	$	(8,569)	$	661
Less:
Net income (loss) from discontinued operations, net of tax		—		—		(5,777)
Deemed dividends on convertible preferred stock		—		—		(425)
Net income (loss) attributable to common stockholders	$	46,459	$	(8,569)	$	(5,541)

Denominator:
Weighted-average shares used in computing basic net income (loss) per share attributable to common stockholders		85,722,670		20,735,202		5,539,739
Basic net income (loss) per share attributable to common stockholders	$	0.54	$	(0.41)	$	(1.00)

Diluted net income (loss) per common share:
Numerator:
Net income (loss) attributable to common stockholders	$	46,459	$	(8,569)	$	(5,541)
Diluted net income (loss) attributable to common stockholders	$	46,459	$	(8,569)	$	(5,541)

Denominator:
Weighted-average shares used in computing basic net income (loss) per share attributable to common stockholder		85,722,670		20,735,202		5,539,739
Effect of dilutive securities		13,332,856		—		—
Weighted-average shares used in computing diluted net income (loss) per share attributable to common stockholders		99,055,526		20,735,202		5,539,739
Diluted net income (loss) per share attributable to common stockholders	$	0.47	$	(0.41)	$	(1.00)

The following weighted-average outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share attributable to common stockholders for the period presented because including them would have been antidilutive:


	Year Ended
	December 31,
	2020	2019	2018
Redeemable convertible preferred stock	—	—	65,960,205
Options to purchase common stock	699,233	13,610,441	6,025,473
Shares issuable under ESPP	70,184	—	—
Warrants to purchase common stock	—	122,882	60,168
Warrants to purchase convertible preferred stock	—	—	260,239
Total potential dilutive shares	769,417	13,733,323	72,306,085