Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2022

Note 9. 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:


	Year Ended
	December 31,
	2022			2021		2020
	(in thousands, except per-share data)
Net income (loss)	$	(59,546	)	$	17,721	$	38,746

Weighted average common shares outstanding — Basic		16,450			15,915		14,801
Plus incremental shares from assumed conversions:
Dilutive effect of restricted stock		—			438		235
Dilutive effect of stock options		—			1,348		917
Dilutive effect of warrants		—			550		412
Weighted average common shares outstanding — Diluted		16,450			18,251		16,365
Net income (loss) per share:
Basic	$	(3.62	)	$	1.11	$	2.62
Diluted	$	(3.62	)	$	0.97	$	2.37

Incremental shares from stock options and restricted stock awards are computed by 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, unrecognized compensation expense for outstanding awards and the estimated tax benefit of the assumed exercises.


		Year Ended
		December 31,
		2022		2021		2020
	(in thousands)
Stock options			1,669		721		813
Unvested restricted stock awards			1,449		294		136
Total			3,118		1,015		949