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Net Income (Loss) Per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | Net Income (Loss) Per Share The table below provides a reconciliation of the numerators and denominators of basic and diluted net income (loss) per share for the three and nine months ended September 30, 2024 and 2023 (in thousands, except per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Numerators: |  |  |  |  |  |  |  |  |
Net income (loss) | $ | (14,349) |  |  | $ | 4,212 |  |  | $ | (26,422) |  |  | $ | 6,928 |  |  |
Less: Income attributable to unvested restricted stock awards | — |  |  | (82) |  |  | — |  |  | (135) |  |  |
Numerator for basic net income (loss) per share | (14,349) |  |  | 4,130 |  |  | (26,422) |  |  | 6,793 |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |
Unvested restricted stock awards | — |  |  | 1 |  |  | — |  |  | 1 |  |  |
Numerator for diluted net income (loss) per share | $ | (14,349) |  |  | $ | 4,131 |  |  | $ | (26,422) |  |  | $ | 6,794 |  |  |
Denominators: |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding | 63,620 |  |  | 63,892 |  |  | 63,843 |  |  | 64,007 |  |  |
Less: Weighted average number of unvested restricted stock awards outstanding | (1,536) |  |  | (1,241) |  |  | (1,486) |  |  | (1,247) |  |  |
Denominator for basic net income (loss) per share | 62,084 |  |  | 62,651 |  |  | 62,357 |  |  | 62,760 |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |
Performance share units | — |  |  | 409 |  |  | — |  |  | 375 |  |  |
Denominator for diluted net income (loss) per share | 62,084 |  |  | 63,060 |  |  | 62,357 |  |  | 63,135 |  |  |
Net income (loss) per share: |  |  |  |  |  |  |  |  |
Basic | $ | (0.23) |  |  | $ | 0.07 |  |  | $ | (0.42) |  |  | $ | 0.11 |  |  |
Diluted | (0.23) |  |  | 0.07 |  |  | (0.42) |  |  | 0.11 |  |  |
The calculation of diluted earnings per share for the three and nine months ended September 30, 2024 excluded 77 thousand shares and 92 thousand shares, respectively, issuable pursuant to outstanding stock options, due to their antidilutive effect. The calculation of diluted earnings per share for the three and nine months ended September 30, 2023 excluded 159 thousand shares and 177 thousand shares, respectively, issuable pursuant to outstanding stock options, due to their antidilutive effect. Additionally, shares issuable upon conversion of the 2026 Notes were excluded due to, among other factors, the Company’s share price.

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