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Net (Loss) Income per Share
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Net (Loss) Income per Share Net (Loss) Income per ShareThe Company presents both basic earnings per share (“EPS”) and diluted EPS. Basic EPS excludes potential dilution and is computed by dividing “net (loss) income” by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if stock awards were exercised and if the 2028 Convertible Notes and 2025 Convertible Notes were converted. The potential dilution from stock awards is accounted for using the treasury
stock method based on the average market value of the Company’s common stock. The potential dilution from conversion of the 2028 Convertible Notes and 2025 Convertible Notes is accounted for using the if-converted method, which requires that all of the shares of the Company’s common stock issuable upon conversion of the 2028 Convertible Notes and the 2025 Convertible Notes will be included in the calculation of diluted EPS assuming conversion of the 2028 Convertible Notes and the 2025 Convertible Notes at the beginning of the reporting period (or at time of issuance, if later).
The following table shows the calculations for the years ended December 31, 2021, 2020, and 2019 (in thousands, except per share amounts):
 202120202019
NET (LOSS) INCOME$(8,347)$4,172 $8,006 
Basic weighted average common shares outstanding119,962 108,579 100,470 
Dilutive effect of stock options— 3,010 2,862 
Dilutive effect of restricted stock awards— 205 283 
Diluted weighted average shares outstanding119,962 111,794 103,615 
Basic net (loss) income per share$(0.07)$0.04 $0.08 
Diluted net (loss) income per share$(0.07)$0.04 $0.08 
The following potential dilutive shares were excluded from the calculation of diluted net (loss) income per share because their effect would be anti-dilutive for the years ended December 31, 2021, 2020, and 2019:
202120202019
Stock options1,892 — — 
Restricted stock awards194 — — 
2025 Convertible Notes5,538 3,723 — 
2028 Convertible Notes5,130 — — 
The potential effect of the Capped Call Transactions entered into concurrently with the 2028 Convertible Notes were excluded from the calculation of diluted net (loss) income per share in 2021 as the Company’s closing price on December 31, 2021, did not exceed the conversion price of $85.75 per share. The Capped Call Transactions are not reflected in diluted net (loss) income per share as they are anti-dilutive.
For further details on the Capped Call Transactions, please refer to Note 9. Debt.