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Earnings Per Share | 3 Months Ended
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Mar. 31, 2022
Earnings Per Share [Abstract] |
Earnings per share | Note 12. Earnings per share Basic net earnings per share is computed by dividing net income by the weighted-average number of shares outstanding during the period. Diluted net earnings per share is computed by giving effect to all potentially dilutive ordinary share equivalents outstanding for the period. For purposes of this calculation, share options, RSUs, RSAs, and ESPP awards are considered to be ordinary share equivalents but are excluded from the calculation of diluted earnings per share when including them would have an anti-dilutive effect. The following table sets forth the computation of basic and diluted net earnings per share (unaudited and in thousands, except for share and per share data):
|  | Three Months Ended March 31, |
|  | 2021 |  |  | 2022 |
Numerator: |  |  |  |  |  |
Net income (loss) |  | $ | 19,860 |  |  | $ | (1,568 | )
Denominator: |  |  |  |  |  |
Basic weighted average shares outstanding |  |  | 26,115,615 |  |  |  | 26,749,675 |
Dilutive effect of share option awards |  |  | 1,948,192 |  |  |  | — |
Dilutive effect of restricted share units and restricted share awards |  |  | 441,581 |  |  |  | — |
Dilutive effect of employee share purchase plan |  |  | 12,325 |  |  |  | — |
Diluted weighted average shares outstanding |  |  | 28,517,713 |  |  |  | 26,749,675 |
Net earnings (loss) per share, basic |  | $ | 0.76 |  |  | $ | (0.06 | )
Net earnings (loss) per share, diluted |  | $ | 0.70 |  |  | $ | (0.06 | )
The following outstanding shares of ordinary share equivalents were excluded from the computation of diluted net loss per share for the periods presented as including them would have had an anti-dilutive effect (unaudited and in thousands):
|  | Three Months Ended March 31, |
|  | 2021 |  |  | 2022 |
Share options |  |  | 4 |  |  |  | 116 |
Restricted shares (RSUs and RSAs) |  |  | 12 |  |  |  | 252 |
Total |  |  | 16 |  |  |  | 368 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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