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Note 3 - Net Income (Loss) Per Share
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 3—Net Income (Loss) Per Share

 

Basic net income (loss) per share ("Basic EPS") is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share (“Diluted EPS”) is computed by dividing net income (loss) by the weighted average number of common shares and potentially dilutive common shares outstanding during the period. Our potentially dilutive securities include common shares related to our stock options, RSUs and convertible senior notes calculated using the treasury stock method. In periods where we have a net loss from continuing operations but overall net income, we do not compute Diluted EPS. Potentially dilutive securities excluded from Diluted EPS are as follows:

 

  

Year Ended December 31,

 
  

2023

  

2022

  

2021

 

2026 Notes convertible to common stock (1)

  11,132,366   12,172,008   12,172,008 

2023 Notes convertible to common stock (1)(2)

  4,318,944   4,941,739   4,941,739 

Outstanding options to purchase common stock

  38,462   9,488   1,707,371 

Outstanding restricted stock units

  —   98,750   2,642 

Total dilutive shares excluded from net income (loss) per share

  15,489,772   17,221,985   18,823,760 

 

(1) The 2023 Notes were, and the 2026 Notes are subject to a capped call arrangement that potentially reduces the dilutive effect as described in “Note 6 - Convertible Senior Notes”. Any potential impact of the capped call arrangement is excluded from this table.  

 

(2) The 2023 Notes were fully extinguished on November 15, 2023.