Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share

Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2022

Basic net income (loss) per common share is computed by dividing the net income (loss) relevant to the common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share uses the same net income (loss) divided by the sum of the weighted average number of shares of common stock outstanding during the period, plus dilutive effects of options, performance and restricted stock units outstanding during the period calculated using the treasury method and the potential dilutive effects of preferred stocks (if any) calculated using the if-converted method.

The table below shows the calculations for the three months ended March 31, 2022 and 2021, (in thousands, except for per share data):


	Three Months Ended March 31,
	2022		2021
Numerator (both basic and diluted)
Net income (loss) relevant to common stockholders	$	11,817	$	(20,375)

Denominator
Denominator for basic income (loss) per share	103,683		101,550
Dilutive effect of stock options	186		—
Dilutive effect of performance share units	828		—
Dilutive effect of restricted stock units	687		—
Denominator for diluted income (loss) per share	105,384		101,550

Basic income (loss) per share	$	0.11	$	(0.20)
Diluted income (loss) per share	$	0.11	$	(0.20)

As shown in the table below, the following stock options, restricted stock units and performance stock units outstanding as of March 31, 2022 and 2021, respectively, have not been included in the calculation of diluted loss per common share for the three months ended March 31, 2022 and 2021 because they will be anti-dilutive to the calculation of diluted net income (loss) per common share:


(In thousands)
	2022	2021
Stock options	500	1,912
Restricted stock units	277	1,564
Performance stock units	160	1,480
Total	937	4,956