Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share

Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2022 and 2021, (in thousands, except for per share data):


	Three Months Ended September 30,
	2022		2021
Numerator (both basic and diluted)
Net income (loss) relevant to common stockholders	$	10,032	$	(5,067)

Denominator
Denominator for basic income (loss) per share	104,372		103,257
Dilutive effect of stock options	28		—
Dilutive effect of performance share units	498		—
Dilutive effect of restricted stock units	172		—
Denominator for diluted income (loss) per share	105,070		103,257

Basic income (loss) per common share	$	0.10	$	(0.05)
Diluted income (loss) per common share	$	0.10	$	(0.05)


	Nine Months Ended September 30,
	2022		2021
Numerator (both basic and diluted)
Net income (loss) relevant to common stockholders	$	(11,012)	$	(33,953)

Denominator
Denominator for basic income (loss) per share	104,100		102,408
Dilutive effect of stock options	—		—
Dilutive effect of performance share units	—		—
Dilutive effect of restricted stock units	—		—
Denominator for diluted income (loss) per share	104,100		102,408

Basic income (loss) per share	$	(0.11)	$	(0.33)
Diluted income (loss) per share	$	(0.11)	$	(0.33)

As shown in the table below, the following stock options, restricted stock units and performance stock units outstanding as of September 30, 2022, have not been included in the calculation of diluted income (loss) per common share for the three and nine months ended September 30, 2022 and 2021 because they will be anti-dilutive to the calculation of diluted net income (loss) per common share:


(In thousands)	Three Months Ended September 30,
	2022	2021
Stock options	488	962
Restricted stock units	615	1,435
Performance stock units	—	1,586
Total	1,103	3,983


(In thousands)	Nine Months Ended September 30,
	2022	2021
Stock options	488	962
Restricted stock units	1,189	1,435
Performance stock units	1,758	1,586
Total	3,435	3,983