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Net Income (Loss) Per Share | 9 Months Ended
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Sep. 30, 2021
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | (11) Net Income (Loss) Per Share Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the applicable period. Diluted net income (loss) per share incorporates the additional shares issuable upon assumed exercise of stock options and the vesting of restricted stock and restricted stock units, except in such case when their inclusion would be anti-dilutive.
| Quarter Ended September 30, |  | Nine Months Ended September 30,
(in thousands, except per share amounts) | 2021 |  | 2020 |  | 2021 |  | 2020
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | 292,656 |  |  | $ | (72,889) |  |  | $ | 328,252 |  |  | $ | (129,764) |
Denominator: |  |  |  |  |  |  |
Weighted average shares - basic | 122,663 |  |  | 118,527 |  |  | 122,178 |  |  | 116,216 |
Dilutive securities | 2,626 |  |  | — |  |  | 2,661 |  |  | — |
Weighted average shares - diluted | 125,289 |  |  | 118,527 |  |  | 124,839 |  |  | 116,216 |
Net income (loss) per share - basic | $ | 2.39 |  |  | $ | (0.61) |  |  | $ | 2.69 |  |  | $ | (1.12) |
Net income (loss) per share - diluted | $ | 2.34 |  |  | $ | (0.61) |  |  | $ | 2.63 |  |  | $ | (1.12) |
For the quarter and nine months ended September 30, 2020, the effect of dilutive securities, including non-vested stock options and restricted stock awards/units, was excluded from the denominator for the calculation of diluted net loss per share because we recognized a net loss for the periods and their inclusion would be anti-dilutive. Dilutive securities excluded for the quarter and nine months ended September 30, 2021, were 2,029 and 2,284, respectively. Dilutive securities excluded for the quarter and nine months ended September 30, 2020, were 4,453 and 4,453, respectively. On August 5, 2020, we entered into an Equity Distribution Agreement for an At-The-Market equity offering program (“ATM Program”) under which we could have issued and sold, from time to time, shares of our common stock. On January 6, 2021, following the closing of the sale of Cimatron and the receipt of the related purchase price proceeds, the Company terminated the ATM Program. No shares of our stock were issued under the ATM Program in 2021.

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