Quarterly report pursuant to Section 13 or 15(d)

Basic and Diluted Net Income (Loss) per Share

v3.23.2
Basic and Diluted Net Income (Loss) per Share
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Basic and Diluted Net Income (Loss) per Share Basic and Diluted Net Income (Loss) per Share
The following table sets forth the computation of the Company’s basic and diluted net income (loss) per share attributable to common stockholders:
Three Months Ended June 30, Six Months Ended June 30,
2023 2022 2023 2022
(In thousands, except share and per share data) (In thousands, except share and per share data)
Numerator:
Net income (loss) $ (23,201) $ 127,950  $ (59,399) $ 62,608 
Denominator:
Basic weighted average shares outstanding 193,917,908  184,282,194  191,775,367  183,892,304 
Effect of dilutive securities:
Common stock options —  18,043,859  —  19,130,274 
Restricted stock units —  —  —  3,890 
Diluted weighted average shares outstanding 193,917,908  202,326,053  191,775,367  203,026,468 
Net income (loss) per share
Basic $ (0.12) $ 0.69  $ (0.31) $ 0.34 
Diluted $ (0.12) $ 0.63  $ (0.31) $ 0.31 
The following potentially dilutive shares of common stock equivalents “on an as-converted basis” were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an antidilutive effect:
Three Months Ended June 30, Six Months Ended June 30,
2023 2022 2023 2022
Common stock options 15,257,468  1,493,147  15,257,468  406,732 
Common stock warrants 13,145,000  13,075,000  13,145,000  13,075,000 
Restricted stock units 12,227,171  5,355,860  12,227,171  5,351,970 
Total potentially dilutive common share equivalents 40,629,639  19,924,007  40,629,639  18,833,702 
Total potentially dilutive common share equivalents for the three and six months ended June 30, 2023 and 2022 excludes 21,265,936 and 21,758,148, respectively, shares related to the earnout liability as these shares are contingently issuable upon meeting certain triggering events.