Net Income (Loss) per Share Attributable to Common Stockholders

6 Months Ended

Jun. 30, 2023

Net Income (Loss) per Share Attributable to Common Stockholders

Potentially dilutive securities are excluded from the calculation of diluted net income (loss) per share attributable to common stockholders if their inclusion is anti-dilutive. Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:


	Six Months Ended June 30,
	2023		2022
Options to purchase common stock		8,246,945		2,512,078
Common stock warrants		—		85
Total		8,246,945		2,512,163

In addition, the Catalyst Convertible Preferred Stock has also been excluded from the computation of diluted net income (loss) per share attributable to common stockholders because the contingency for conversion of these shares has not been met.

The following is a reconciliation of the numerator (net income or loss) and denominator (number of shares) used in the calculation of basic and diluted net income (loss) per share attributable to common stockholders (in thousands, except share and per share data):


	Three Months Ended June 30,					Six Months Ended June 30,
	2023			2022		2023			2022
Numerator
Net income (loss)	$	(2,472	)	$	51,632	$	(2,212	)	$	37,096

Denominator
Weighted-average number of shares used in computing net income (loss) per share available to common stockholders, basic		37,800,121			31,477,053		37,779,384			31,466,630
Effect of dilutive stock options		—			5,872		—			2,936
Weighted-average number of shares used in computing net income (loss) per share available to common stockholders, diluted		37,800,121			31,482,925		37,779,384			31,469,566
Net income (loss) per share available for common stockholders, basic	$	(0.07	)	$	1.64	$	(0.06	)	$	1.18
Net income (loss) per share available for common stockholders, dilutive	$	(0.07	)	$	1.64	$	(0.06	)	$	1.18