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Earnings per Share | 3 Months Ended
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Mar. 31, 2024
Earnings Per Share [Abstract] |
Earnings per Share | Earnings per Share 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, as calculated using the treasury stock method. The following table presents the calculation of basic and diluted net income (loss) per share of common stock for the three months ended March 31, 2024 and 2023:
| Three Months Ended |  |  |  |
(in thousands, except for share and per share amounts) | March 31, 2024 |  | March 31, 2023 |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |
Net income (loss) | $ | (4,146) |  |  | $ | 3,252 |  |  |  |  |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding, basic | 57,760,940 |  |  | 57,011,396 |  |  |  |  |  |  |  |  |
Effect of dilutive securities | — |  |  | 388,756 |  |  |  |  |  |  |  |  |
Weighted average shares outstanding, diluted | 57,760,940 |  |  | 57,400,152 |  |  |  |  |  |  |  |  |
Net income (loss) per share, basic and diluted: |  |  |  |  |  |  |  |  |  |  |
Basic | $ | (0.07) |  |  | $ | 0.06 |  |  |  |  |  |  |  |  |
Diluted | $ | (0.07) |  |  | $ | 0.06 |  |  |  |  |  |  |  |  |
Antidilutive securities excluded from calculations of diluted net income (loss) per share | 7,029,644 |  |  | 6,133,050 |  |  |  |  |  |  |  |  |
The Company incurred a net loss for the three months ended March 31, 2024 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.

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