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Net Income Per Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Income Per Share

The numerators and denominators of the basic net (loss) income and diluted net income per share computations for our common stock are calculated as follows (in thousands):

	Three Months Ended
	March 31,
	2023				2022
Numerator
Net (loss) income	$	(24,332	)		$	32,859
Less: undistributed earnings allocated to participating securities		-				(131	)
Net (loss) income attributable to common stockholders, basic		(24,332	)			32,728
Add: undistributed earnings allocated to participating securities		-				131
Less: removal of change in fair value of warrant liability		-				(1,801	)
Add: interest expense on convertible notes		-				1,259
Net (loss) income attributable to common stockholders, diluted	$	(24,332	)		$	32,317
Denominator
Weighted average common stock outstanding, basic		127,921				124,555
Effect of dilutive shares:
Stock-based compensation plans		-				3,001
Dilutive warrants		-				326
Convertible Notes (as converted to common stock)		-				21,543
Weighted average common stock outstanding, diluted		127,921				149,425

Outstanding Stock Options and Stock Awards Excluded from Calculation of Net Loss Per Share

The following were excluded from the calculation of diluted net (loss) income per share as the effect of their inclusion would have been anti-dilutive (in thousands).

	Three months ended March 31,
	2023				2022
Outstanding securities not included in diluted net (loss) income per share calculation:
Stock options and stock awards		15,622				8,415
Convertible Notes (as converted to common stock)		21,543				-
Total		37,165				8,415

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- References

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

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