v3.22.4
NET INCOME PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Income (Loss) per Share
The following table sets forth the computation of basic and diluted net income per common share for the years ended December 31, 2022, 2021 and 2020 (in thousands, except per share amounts):
 Year Ended December 31,
 202220212020
Numerator:   
Net income—basic$15,909 $41,980 $145,523 
Denominator:
Weighted average common shares outstanding—basic45,521 44,262 42,671 
Computation of diluted securities:
Dilutive effect of stock options787 1,030 783 
Dilutive effect of RSUs226 298 227 
Dilutive effect of conversion premium on the 2022 Notes— 38 — 
Dilutive effect of ESPP purchase options4 2 1 
Weighted average common shares outstanding—diluted46,538 45,630 43,682 
Net income per share:
Basic net income per common share$0.35 $0.95 $3.41 
Diluted net income per common share$0.34 $0.92 $3.33 
Schedule of Potential Dilutive Effect of the Securities Excluded from the Calculation of Diluted Net (Loss) Income Per Common Share
The following table summarizes the outstanding stock options, RSUs, ESPP purchase options and convertible senior notes that were excluded from the diluted net income per common share calculation because the effects of including these potential shares were antidilutive in the periods presented (in thousands):
 Year Ended December 31,
 202220212020
Weighted average number of stock options2,821 2,141 4,237 
Convertible senior notes (1)
6,206 — — 
Weighted average number of RSUs417 116 99 
Weighted average ESPP purchase options7 13 16 
     Total9,451 2,270 4,352 
(1) The convertible senior notes were antidilutive for the year ended December 31, 2022, in conjunction with a $5.1 million if-converted method adjustment to the numerator that adds back the interest expense associated with the convertible debt on a post-tax basis under ASU 2020-06.