Earnings per Share

6 Months Ended

Jun. 30, 2023

Basic earnings per share (EPS) is calculated by dividing the net income (loss) by the weighted average number of shares of common stock outstanding. Diluted EPS is computed by dividing the net income (loss) by the weighted average number of shares of common stock outstanding, plus potential outstanding common stock for the period. Potential outstanding common stock includes stock options and shares underlying RSUs, but only to the extent that their inclusion is dilutive.

The following table presents the calculation of basic and diluted net income (loss) per share of common stock for the three and six months ended June 30, 2023 and 2022:


	Three Months Ended				Six Months Ended
(in thousands, except for share and per share amounts)	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Numerator:
Net income (loss)	$	1,520	$	2,574	$	4,772	$	(3,856)
Denominator:
Weighted average shares outstanding, basic	57,453,916		56,508,533		57,233,878		56,307,999
Effect of dilutive securities	81,699		312,491		235,227		—
Weighted average shares outstanding, diluted	57,535,615		56,821,024		57,469,105		56,307,999
Net income (loss) per share, basic and diluted:
Basic	$	0.03	$	0.05	$	0.08	$	(0.07)
Diluted	$	0.03	$	0.05	$	0.08	$	(0.07)
Antidilutive securities excluded from calculations of diluted net income (loss) per share	6,722,509		5,389,183		6,427,780		4,982,824

The Company incurred a net loss for the six months ended June 30, 2022 causing inclusion of any potentially dilutive securities to have an anti-dilutive effect, resulting in dilutive loss per share and basic loss per share attributable to common stockholders being equivalent.