Earnings per Share

3 Months Ended

Mar. 31, 2024

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.