Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2023

Note 8. 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,
	2023			2022			2021
	(in thousands, except per-share data)
Net income (loss)	$	(17,679	)	$	(59,546	)	$	17,721

Weighted average common shares outstanding — Basic		17,135			16,450			15,915
Plus incremental shares from assumed conversions:
Dilutive effect of restricted stock		—			—			438
Dilutive effect of stock options		—			—			1,348
Dilutive effect of warrants		—			—			550
Weighted average common shares outstanding — Diluted		17,135			16,450			18,251
Net income (loss) per share:
Basic	$	(1.03	)	$	(3.62	)	$	1.11
Diluted	$	(1.03	)	$	(3.62	)	$	0.97

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,
		2023		2022		2021
	(in thousands)
Stock options			1,374		1,669		721
Unvested restricted stock awards			1,404		1,449		294
Total			2,778		3,118		1,015