Financial Results
The following table provides a reconciliation of Non-GAAP net income and Non-GAAP net income per share - diluted to net income and net income per share – diluted, the most comparable GAAP financial measures:
| (Unaudited) | ||||||||
| Three Months Ended March 31, | ||||||||
| (in thousands, except per share amounts) | 2020 | 2019 | ||||||
| Net income | $ | 6,030 | $ | 13,019 | ||||
| Stock-based compensation expense | 3,171 | 1,212 | ||||||
| Amortization of intangible assets | 3,840 | 3,528 | ||||||
| Special adjustments (1) | — | 228 | ||||||
| Income tax effect of non-GAAP adjustments | (382 | ) | (240 | ) | ||||
| Non-GAAP net income | $ | 12,659 | $ | 17,747 | ||||
| Net income per share - diluted | $ | 0.08 | $ | 0.17 | ||||
| Non-GAAP net income per share - diluted | $ | 0.16 | $ | 0.23 | ||||
| GAAP diluted shares outstanding: | 77,004 | 76,720 | ||||||
| Non-GAAP diluted shares outstanding: | 78,400 | 77,000 | ||||||
(1) Includes $0.2 million impairment charge for royalty contracts for the three ended March 31, 2019.
