Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.23.2
Earnings Per Share
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic net income (loss) per share (“EPS”) is computed by dividing net income (loss) by the weighted average number of outstanding shares during the period.
The weighted average outstanding shares may include potentially dilutive equity awards. Diluted net income (loss) per share includes the effects of potentially dilutive equity awards, which include stock options, restricted stock units, and other potentially dilutive equity awards outstanding during the year. For the three and six months ended June 30, 2023, there were 5,691,271, and 9,089,946 potentially dilutive equity awards, respectively, which were excluded from the calculations of diluted EPS because including them would have had an anti-dilutive effect. For the three and six months ended June 30, 2022, there were 7,266,364 and 6,883,842 potentially dilutive awards, which were excluded from the calculation of diluted EPS because including them would have had an anti-dilutive effect.
Basic and diluted EPS for the three and six months ended June 30, 2023 and 2022 were:
Three Months Ended June 30, Six Months Ended
June 30,
2023 2022 2023 2022
(in thousands, except share and per share data)
Numerator:
Net income (loss) $ 2,512  $ 24,446  $ (5,399) $ 36,010 
Denominator:
Weighted average shares outstanding - basic 73,090,366 79,405,872 75,108,902 79,399,440
Effect of dilutive equity awards 901,783  72,222  —  43,733 
Weighted average shares outstanding - diluted 73,992,149 79,478,094 75,108,902 79,443,173
Net income (loss) per share:
Basic $ 0.03  $ 0.31  $ (0.07) $ 0.45 
Diluted $ 0.03  $ 0.31  $ (0.07) $ 0.45