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Net Income per share
 3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Net Income per share

Note 7: Net income per share

Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding for the period, without consideration for potentially dilutive securities. Diluted net income per share is computed by dividing net income by the weighted-average number of common shares and dilutive common share equivalents outstanding for the period determined using the treasury-stock and if-converted methods. Dilutive common share equivalents are comprised of warrants and shares issuable under our convertible debt arrangement described above.

The following table presents the calculation of basic and diluted net income per share (in thousands except share and per share amounts):

 

   
     Three months ended March 31,  
      2021      2020  

Numerator:

      

Net income applicable to common shareholders—basic

    $ 19,416      $ 12,860  

Dilutive effect of assumed conversion of convertible debt

      —        1,814  

Net income applicable to common shareholders—diluted

    $ 19,416      $ 14,674  

Denominator:

      

Weighted average shares outstanding—basic

      2,214,522        1,192,725  

Dilutive effect of assumed conversion of convertible debt

      —        715,258  

Dilutive effect of assumed conversion of warrants

      —        128,868  

Weighted average shares outstanding—diluted

      2,214,522        2,036,851  

Basic net income per share

    $ 8.77      $ 10.78  

Diluted net income per share

    $ 8.77      $ 7.20  

 

  

Note 8: Net Income per share

Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding for the period, without consideration for potentially dilutive securities. Diluted net income per share is computed by dividing net income by the weighted-average number of common shares and dilutive common share equivalents outstanding for the period determined using the treasury-stock and if-converted methods.

Dilutive common share equivalents are comprised of warrants and shares issuable under our convertible debt arrangement described in Note4: Debt.

The following table presents the calculation of basic and diluted net income per share (in thousands except share and per share amounts):

 

   
     Years ended December 31,  
      2020      2019  

Numerator

      

Net income applicable to common stockholders — basic

    $ 53,623      $ 36,325  

Dilutive effect of assumed conversion of convertible debt

      2,687        7,311  

Net income applicable to common stockholders — diluted

    $ 56,310      $ 43,636  

Denominator

      

Weighted average common shares outstanding — basic

      1,807,410        1,192,725  

Dilutive effect of assumed conversion of convertible debt

      295,028        715,258  

Dilutive effect of assumed conversion of warrants

      46,676        87,148  

Weighted average common shares outstanding — diluted

      2,149,114        1,995,131  

Net Income per share applicable to common stockholders — basic

    $ 29.67      $ 30.46  

Net Income per share applicable to common stockholders — diluted

    $ 26.20      $ 21.87