Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2022

Note 10. Net Income (Loss) Per Share

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


	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2022			2021		2022			2021
	(in thousands, except per-share data)
Net income (loss)	$	(12,011	)	$	2,623	$	(36,313	)	$	13,182

Weighted average common shares outstanding — Basic		16,541			16,079		16,413			15,852
Plus incremental shares from assumed conversions:
Dilutive effect of restricted stock		—			389		—			442
Dilutive effect of stock options		—			1,317		—			1,404
Dilutive effect of warrants		—			550		—			550
Weighted average common shares outstanding — Diluted		16,541			18,335		16,413			18,248
Net income (loss) per share:
Basic	$	(0.73	)	$	0.16	$	(2.21	)	$	0.83
Diluted	$	(0.73	)	$	0.14	$	(2.21	)	$	0.72

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				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
	(in thousands)
Stock options		1,627		60		1,669		732
Unvested restricted stock awards		939		12		899		294
Warrants		550		—		550		—
Total		3,116		72		3,118		1,026