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Net Income (Loss) Per Share | 9 Months Ended
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Sep. 29, 2024
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | Note 6. Net I ncome (Loss) Per Share Basic net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. Potentially dilutive common shares include common shares issuable upon exercise of stock options, vesting of Restricted Stock Units (“RSUs”) and performance shares, and issuances of shares under the Employee Stock Purchase Plan (the “ESPP”), which are reflected in diluted net income (loss) per share by application of the treasury stock method. Potentially dilutive common shares are excluded from the computation of diluted net income (loss) per share when their effect is anti-dilutive. Net income (loss) per share consisted of the following:
|  | Three Months Ended |  |  | Nine Months Ended |
(In thousands, except per share data) |  | September 29, 2024 |  |  | October 1, 2023 |  |  | September 29, 2024 |  |  | October 1, 2023 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 85,074 |  |  | $ | (84,799 | ) |  | $ | 21,249 |  |  | $ | (103,098 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares – basic |  |  | 28,705 |  |  |  | 29,524 |  |  |  | 28,992 |  |  |  | 29,266 |
Potentially dilutive common share equivalent |  |  | 659 |  |  |  | — |  |  |  | 397 |  |  |  | — |
Weighted average common shares – dilutive |  |  | 29,364 |  |  |  | 29,524 |  |  |  | 29,389 |  |  |  | 29,266 |
Basic net income (loss) per share |  | $ | 2.96 |  |  | $ | (2.87 | ) |  | $ | 0.73 |  |  | $ | (3.52 | )
Diluted net income (loss) per share |  | $ | 2.90 |  |  | $ | (2.87 | ) |  | $ | 0.72 |  |  | $ | (3.52 | )
Anti-dilutive employee stock-based awards, excluded |  |  | 1,332 |  |  |  | 2,563 |  |  |  | 1,053 |  |  |  | 2,358 |

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