Quarterly report pursuant to Section 13 or 15(d)

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.19.3
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted Diluted net income (loss) per common share is based on the weighted-average number of common shares outstanding and potentially dilutive common shares outstanding and computed as follows:
Three Months ended
September 30,
Nine Months ended
September 30,
2019 2018 2019 2018
(In thousands, except share and per share data)
Numerator:
Net income (loss) to common stockholders $ (2,580)   $ (7,619)   $ (10,552)   $ 27,713   
Denominator:
Weighted-average common shares, basic 27,623,768    27,247,462    27,609,176    27,488,437   
Weighted-average common shares, diluted* 27,623,768    27,247,462    27,609,176    28,417,453   
Net income (loss) per common share:
Basic: $ (0.09)   $ (0.28)   $ (0.38)   $ 1.01   
Diluted: $ (0.09)   $ (0.28)   $ (0.38)   $ 0.98   
* For the three and nine months ended September 30, 2019 the securities would be anti-dilutive and therefore were excluded. For the three months ended September 30, 2018, the securities would be anti-dilutive and therefore were excluded. For the nine months ended September 30, 2018, the diluted earnings per common share included 209,689 unvested RSUs and the weighted average effect of 719,327 stock options that are potentially dilutive to earnings per share, since the exercise price of such securities was less than the average market price during the period.
Summary of Components Excluded from Computation of Diluted Net Loss Per Share
Potentially dilutive common shares from employee equity plans and warrants are determined by applying the treasury stock method assumed exercise of warrants and share options and were excluded from the computation of diluted net income (loss) per share because their inclusion would be anti-dilutive and consist of the following:

Three Months ended
September 30,
Nine Months ended September 30,
2019 2018 2019 2018
Stock options 2,356,198    2,574,981    2,356,198    733,025   
Restricted stock units 511,853    542,476    511,853    17,778   
Warrants 2,355,506    2,355,506    2,355,506    2,355,506   
Total 5,223,557    5,472,963    5,223,557    3,106,309