Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2021

5. Earnings (Loss) Per Share

Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed in a manner similar to basic earnings (loss) per share except that the weighted-average number of shares outstanding is increased to include incremental shares from the assumed vesting or exercise of dilutive securities, such as common stock options, unvested restricted stock or performance stock units, unless the impact is antidilutive. The number of incremental shares is calculated by assuming that outstanding stock options were exercised and unvested restricted shares and performance stock units were vested, and the proceeds from such exercises or vesting were used to acquire shares of common stock at the average market price during the reporting period. Basic and dilutive computations of net loss per share are the same in periods in which a net loss exists as the dilutive effects of excluded items would be anti-dilutive.

The computations of basic and diluted earnings (loss) per share are as follows:


	Three Months					Nine Months
	Ended September 30,					Ended September 30,
	2021			2020		2021			2020

Net income (loss)	$	(15,015	)	$	1,040	$	(12,605	)	$	(16,782	)
Weighted-average shares of common stock outstanding:
Basic		72,023			71,537		71,962			66,088
Dilutive effect of stock options, restricted stock, and performance stock units		—			1,125		—			—
Diluted		72,023			72,662		71,962			66,088
Earnings (loss) per share:
Basic	$	(0.21	)	$	0.01	$	(0.18	)	$	(0.25	)
Diluted	$	(0.21	)	$	0.01	$	(0.18	)	$	(0.25	)

For the three months ended September 30, 2021, outstanding common stock options, unvested restricted stock, and unvested performance stock units representing 859 shares were excluded from the computation of diluted loss per share. For the three months ended September 30, 2020, outstanding common stock options, unvested restricted stock, and unvested performance stock units representing 136 shares were excluded from the computation of diluted earnings per share as their inclusion would have been anti-dilutive. For the nine months ended September 30, 2021 and 2020, outstanding common stock options, unvested restricted stock, and unvested performance stock units representing 847 and 917 shares, respectively, were excluded from the computation of diluted loss per share.