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Net (Loss) Income Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Net (Loss) Income Per Share

Computation of Basic and Diluted Net (loss) Income Per Share

​

​	​	​	​	​	​	​	​	​
​	Year Ended December 31,
(in thousands, except share and per share data)	2022			2021			2020
Basic net (loss) income per share	​			​			​
Numerator:	​			​			​
Net (loss) income	$	(291,754)	​	$	(287,100)	​	$	132,244
Denominator:			​			​
Weighted-average common shares outstanding		77,630,020	​		75,449,632	​		71,411,705
Basic net (loss) income per share	$	(3.76)	​	$	(3.81)	​	$	1.85
​	​	​	​	​	​	​	​	​
Diluted net (loss) income per share			​			​
Numerator:			​			​
Net (loss) income	$	(291,754)	​	$	(287,100)	​	$	132,244
Add interest expense on 2026 Convertible Notes, net of tax	​	—	​	​	—	​	​	3,307
Numerator for diluted net (loss) income per share		(291,754)	​		(287,100)	​		135,551
Denominator:			​			​
Denominator for basic net (loss) income per share		77,630,020	​		75,449,632	​		71,411,705
Add effect of potential dilutive securities:		​	​		​	​
Stock options, including shares subject to ESPP		—	​		—	​		3,455,646
Restricted stock units		—	​		—	​		167,597
Shares issuable upon conversion of convertible notes	​	—	​	​	—	​	​	8,456,950
Denominator for diluted net (loss) income per share		77,630,020	​		75,449,632	​		83,491,898
Diluted net (loss) income per share	$	(3.76)	​	$	(3.81)	​	$	1.62

​

Outstanding Dilutive Potential Shares Excluded from Calculation of Diluted Net (loss) Income Per Share

The following outstanding dilutive potential shares were excluded from the calculation of diluted net (loss) income per share due to their anti-dilutive effect:

​	​	​	​	​	​
​	Year Ended December 31,
​	2022		2021		2020
Stock options, including shares subject to ESPP	22,214,875		19,895,097		9,521,403
Restricted stock units	2,399,465		1,811,607		7,689
Shares issuable upon conversion of 2022 Convertible Notes	1,078,632		4,473,871		4,473,871
Shares issuable upon conversion of 2026 Convertible Notes	11,942,152	​	11,942,152	​	—
Total	37,635,124		38,122,727		14,002,963

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- References

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
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