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NET INCOME (LOSS) PER SHARE | 3 Months Ended
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Mar. 29, 2024
Earnings Per Share [Abstract] |
NET INCOME (LOSS) PER SHARE | NET INCOME (LOSS) PER SHARE Basic earnings per share is computed by dividing net income (loss) for the period by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is calculated by dividing net income by the weighted-average number of common shares and potentially dilutive securities outstanding during the period using the treasury stock method for the Company’s stock options, restricted stock units, and shares issuable under the ESPP, and the if-converted method for the 2024 Notes. As noted in Note 7, “Convertible Debt,” the principal amount of the 2024 Notes was required to be settled in cash. Therefore, for the purpose of calculating diluted net income (loss) per share, it is assumed that the conversion spread value will be settled in shares. The following table sets forth the computation of the basic and diluted net income per share:
| Three Months Ended |
(in thousands, except per share amounts) | March 29, 2024 |  | March 31, 2023 |
Numerator: |  |  |  |
Net income (loss) | $ | (8,089) |  |  | $ | 5,093 |  |
Denominator: |  |  |  |
Weighted average number of shares outstanding: |  |  |  |
Basic | 112,350 |  |  | 110,794 |  |
2024 Notes | — |  |  | 4,964 |  |
Restricted stock units | — |  |  | 2,000 |  |
Diluted | 112,350 |  |  | 117,758 |  |
Net income (loss) per share: |  |  |  |
Basic | $ | (0.07) |  |  | $ | 0.05 |  |
Diluted | $ | (0.07) |  |  | $ | 0.04 |  |
The following table sets forth the potential dilutive shares that were excluded from the computation of diluted net income (loss) per share, because their effects were anti-dilutive:
| Three Months Ended |
(in thousands) | March 29, 2024 |  | March 31, 2023 |
2024 Notes | 4,287 |  |  | — |  |
Restricted stock units | 3,197 |  |  | 72 |  |
Stock purchase rights under the ESPP | 316 |  |  | 300 |  |
Total | 7,800 |  |  | 372 |  |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
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