Net Income (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2014

Computation of Basic and Diluted Income (Loss) Per Common Share

Basic and diluted income (loss) per common share is computed as follows (in thousands except share and per share data):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Net income (loss)	$	(3,928	)	$	6,604		$	(19,295	)	$	2,944
Less: undistributed earnings allocated to participating securities		—			(6,435	)		—			(2,944	)

Net income (loss) allocable to common shares	$	(3,928	)	$	169		$	(19,295	)	$	—

Basic weighted average common shares outstanding		27,751,437			1,184,507			27,227,151			1,463,798
Basic income (loss) per common share	$	(0.14	)	$	0.14		$	(0.71	)	$	0.00
Net income (loss)	$	(3,928	)	$	6,604		$	(19,295	)	$	2,944
Less: undistributed earnings allocated to participating securities and other add-backs to net loss		—			(6,404	)		—			(2,944	)

Net income (loss) allocable to common shares	$	(3,928	)	$	200		$	(19,295	)	$	—

Basic weighted average common shares outstanding		27,751,437			1,184,507			27,227,151			1,463,798
Effect of dilutive securities		—			20,058,472			—			20,445,061

Diluted weighted average common shares outstanding		27,751,437			21,242,979			27,227,151			21,908,859

Diluted income (loss) per common share	$	(0.14	)	$	0.01		$	(0.71	)	$	0.00

Schedule of Antidilutive Securities Excluded from the Calculation of Diluted Loss Per Share Allocable to Common Stockholders

The following common stock equivalents were excluded from the calculation of diluted loss per share allocable to common stockholders because their inclusion would have been anti-dilutive:


	Three Months Ended Sept 30,				Nine Months Ended Sept 30,
	2014		2013		2014		2013
Series A-1 Preferred Stock		—		2,156,114		—		2,156,114
Series A-2 Preferred Stock		—		392,274		—		392,274
Series B Preferred Stock		—		4,336,037		—		4,336,037
Series C Preferred Stock		—		5,909,906		—		5,909,906
Series D Preferred Stock		—		769,468		—		769,468
Series D-2 Preferred Stock		—		3,391,991		—		3,391,991
Warrants to purchase Series D-2 Preferred Stock		—		180,784		—		180,784
Stock Options		2,264,749		2,910,952		2,274,734		2,910,952