### Annual report pursuant to Section 13 and 15(d)

#### Net Income (Loss) Per Share

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Net Income (Loss) Per Share
12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]
Net Income (Loss) Per Share Net Income (Loss) Per Share
Basic earnings per share, or EPS, is calculated by dividing net income (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 (loss) 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 and restricted stock units 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 EPS:
 Year Ended December 31, 2022 2021 2020 (in thousands, except per share amounts) Numerator: Net income (loss) \$ 125,040 \$ 41,969 \$ (98,593) Denominator: Weighted average common shares outstanding—basic 78,039 76,037 73,133 Dilutive common stock equivalents 2,813 3,642 — Weighted average common shares outstanding—diluted 80,852 79,679 73,133 Net income (loss) per share: Basic \$ 1.60 \$ 0.55 \$ (1.35) Diluted \$ 1.55 \$ 0.53 \$ (1.35)
For each of the years ended December 31, 2022, 2021, and 2020, the Company excluded common stock equivalents for outstanding stock-based awards, which represented potentially dilutive securities of 1.8 million for 2022, 0.07 million for 2021, and 3.2 million for 2020 from the calculation of diluted net income (loss) per share due to their anti-dilutive nature.
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