Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2022

Note 10. Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted net income per share of common stock attributable to common stockholders:

		Three Months Ended
		March 31,
		2022			2021
	(in thousands, except per-share data)
Net income (loss)		$	(6,476	)	$	8,838

Weighted average common shares outstanding — Basic			16,194			15,551
Plus incremental shares from assumed conversions:
Dilutive effect of restricted stock			—			517
Dilutive effect of stock options			—			1,458
Dilutive effect of warrants			—			550
Weighted average common shares outstanding — Diluted			16,194			18,076
Net income (loss) per share:
Basic		$	(0.40	)	$	0.57
Diluted		$	(0.40	)	$	0.49

Incremental shares from stock options and restricted stock awards are computed using the treasury stock method. The weighted average shares listed below were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented or were otherwise excluded under the treasury stock method. The treasury stock method calculates dilution assuming the exercise of all in-the-money options and vesting of restricted stock, reduced by the repurchase of shares with the proceeds from the assumed exercises and unrecognized compensation expense for outstanding awards.

	Three Months Ended
	March 31,
	2022		2021
	(in thousands)
Stock options		1,725		97
Unvested restricted stock awards		793		3
Warrants		550		-
Total		3,068		100