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EARNINGS PER SHARE | 6 Months Ended
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Jul. 01, 2022
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE The following table sets forth the computation of the basic and diluted net income (loss) per share:
| Three Months Ended |  | Six Months Ended
(in thousands, except per share amounts) | July 1, 2022 |  | July 2, 2021 |  | July 1, 2022 |  | July 2, 2021
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | 14,840 |  |  | $ | (2,009) |  |  | $ | 13,311 |  |  | $ | (8,133) |
Denominator: |  |  |  |  |  |  |
Weighted average number of shares outstanding: |  |  |  |  |  |  |
Basic | 104,630 |  |  | 101,218 |  |  | 104,312 |  |  | 100,539 |
2022 Notes | 2,365 |  |  | — |  |  | 2,537 |  |  | — |
2024 Notes | 491 |  |  | — |  |  | 1,014 |  |  | — |
Stock options | 234 |  |  | — |  |  | 249 |  |  | — |
Restricted stock units | 1,193 |  |  | — |  |  | 1,627 |  |  | — |
Stock purchase rights under the ESPP | 71 |  |  | — |  |  | 35 |  |  | — |
Diluted | 108,984 |  |  | 101,218 |  |  | 109,774 |  |  | 100,539 |
Net income (loss) per share: |  |  |  |  |  |  |
Basic | $ | 0.14 |  |  | $ | (0.02) |  |  | $ | 0.13 |  |  | $ | (0.08) |
Diluted | $ | 0.14 |  |  | $ | (0.02) |  |  | $ | 0.12 |  |  | $ | (0.08) |
The diluted net loss per share was the same as basic net loss per share for the three and six months ended July 2, 2021, as the inclusion of potential common shares outstanding would have been anti-dilutive due to the Company’s net losses for these periods. The following table sets forth the potential weighted common shares outstanding and anti-dilutive weighted shares that were excluded from the computation of basic and diluted net income (loss) per share:
| Three Months Ended |  | Six Months Ended
(in thousands) | July 1, 2022 |  | July 2, 2021 |  | July 1, 2022 |  | July 2, 2021
2022 Notes | — |  |  | 1,645 |  |  | — |  |  | 1,720 |
Stock options | — |  |  | 839 |  |  | — |  |  | 1,015 |
Restricted stock units | 48 |  |  | 2,961 |  |  | 53 |  |  | 2,895 |
Stock purchase rights under the ESPP | 398 |  |  | 404 |  |  | 404 |  |  | 372 |
Total | 446 |  |  | 5,849 |  |  | 457 |  |  | 6,002 |

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