Annual report pursuant to Section 13 and 15(d)

Net Loss Per Share

Net Loss Per Share
12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Net Loss Per Share Net Income (Loss) Per Share
Basic earnings per share, or EPS, is calculated by dividing net loss by the weighted-average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted EPS is computed by dividing net income by the weighted-average number of common shares outstanding for the period and the weighted-average number of dilutive common stock equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, common stock options, restricted stock units and restricted stock awards are considered to be common stock equivalents and are only included in the calculation of diluted EPS when their effect is dilutive. In periods in which the Company has a net loss, dilutive common stock equivalents are excluded from the calculation of diluted EPS.
The table below presents the computation of basic and diluted earnings per share:
Years Ended December 31,
2020 2019 2018
(in thousands, except per share amounts)
Net loss $ (98,593) $ (19,898) $ (26,199)
Weighted average common shares outstanding—basic 73,133  71,005  68,490 
Dilutive common stock equivalents —  —  — 
Weighted average common shares outstanding—diluted 73,133  71,005  68,490 
Net loss per share:
Basic $ (1.35) $ (0.28) $ (0.38)
Diluted $ (1.35) $ (0.28) $ (0.38)
For the years ended December 31, 2020, 2019, and 2018, the Company incurred net losses and accordingly excluded common stock equivalents for outstanding stock-based awards, which represented all potentially dilutive securities, of 3.2 million, 2.5 million, and 3.7 million, respectively, from the calculation of diluted net loss per share due to their anti-dilutive nature.