11. Net Income (Loss) per Share Available to Common Stockholders
Potentially dilutive securities are excluded from the calculation of diluted net income (loss) per share available to common stockholders if their inclusion is anti-dilutive.
The following table shows the weighted-average outstanding securities considered anti-dilutive and therefore excluded from the computation of diluted net income (loss) per share available to common stockholders (in thousands):
|
|
|
Year Ended December 31,
|
|
|
|
|
2017
|
|
|
2016
|
|
|
2015
|
|
|
Common stock options and RSUs
|
|
|
346
|
|
|
|
548
|
|
|
|
550
|
|
|
Warrants for common stock
|
|
|
100
|
|
|
|
894
|
|
|
|
960
|
|
|
Convertible preferred stock
|
|
|
4,372
|
|
|
|
—
|
|
|
|
—
|
|
|
Total
|
|
|
4,818
|
|
|
|
1,442
|
|
|
|
1,510
|
|
The following is a reconciliation of the numerators and denominators used in calculating basic and diluted net income (loss) per share available to common stockholders (in thousands):
|
|
|
Year Ended December 31,
|
|
|
|
|
2017
|
|
|
2016
|
|
|
2015
|
|
|
Numerator
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
$
|
14,596
|
|
|
$
|
(53,530
|
)
|
|
$
|
(20,606
|
)
|
|
Less: Deemed dividend on convertible preferred stock
|
|
|
(5,603
|
)
|
|
|
—
|
|
|
|
—
|
|
|
Less: Allocation of undistributed earnings to participating securities
|
|
|
(3,279
|
)
|
|
|
—
|
|
|
|
—
|
|
|
Net income (loss) available to common stockholders, basic
|
|
|
5,714
|
|
|
|
(53,530
|
)
|
|
|
(20,606
|
)
|
|
Adjustments to undistributed earnings allocated to participating securities
|
|
|
96
|
|
|
|
—
|
|
|
|
—
|
|
|
Net income (loss) available to common stockholders, diluted
|
|
$
|
5,810
|
|
|
$
|
(53,530
|
)
|
|
$
|
(20,606
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Denominator
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares outstanding used for basic net income (loss) per share available to common stockholders
|
|
|
7,619
|
|
|
|
6,021
|
|
|
|
5,890
|
|
|
Effect of dilutive stock options
|
|
|
360
|
|
|
|
—
|
|
|
|
—
|
|
|
Effect of dilutive warrants
|
|
|
1
|
|
|
|
—
|
|
|
|
—
|
|
|
Weighted average shares outstanding used for diluted net income (loss) per share available to common stockholders
|
|
|
7,980
|
|
|
|
6,021
|
|
|
|
5,890
|
|
|
Basic net income (loss) per share of common stock
|
|
$
|
0.75
|
|
|
$
|
(8.89
|
)
|
|
$
|
(3.50
|
)
|
|
Diluted net income (loss) per share of common stock
|
|
$
|
0.73
|
|
|
$
|
(8.89
|
)
|
|
$
|
(3.50
|
)
|
|