EARNINGS (LOSS) PER SHARE

9 Months Ended

Sep. 30, 2024

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

NOTE 6 – EARNINGS (LOSS) PER SHARE

Basic and diluted net earnings (loss) per share attributable to common stockholders were calculated as follows:

		Nine Months Ended September 30,				Three Months Ended September 30,
(In thousands, except share data)		2024		2023		2024	2023
Numerator:
Net loss	$	(3,562)	$	14,356	$	3,236	$	(1,852)
Add:
Financial expenses of 2024 Notes*				(1,610)		(503)		(1,766)
Net income (loss) for diluted calculation	$	(3,562)	$	12,746	$	2,733	$	(3,618)
Denominator:
Weighted average shares of Common Stock outstanding for basic calculation		73,301,091		65,811,506		73,549,745		72,281,681
Weighted average dilutive effect of 2024 Notes				13,981,660		7,667,323		11,500,998
Weighted average dilutive effect of stock options				1,247,115		-		-
Weighted average shares of Common Stock outstanding for diluted calculation		73,301,091		81,040,281		81,217,068		83,782,679

* Financial expenses on 2024 Notes consists of add back of financial expense incurred during the period and inclusion of make-whole interest payments that will be incurred upon conversion.

Diluted earnings (loss) per share do not include 30,515,287 shares of Common Stock underlying outstanding stock options, warrants and the 2024 Notes for the nine months ended September 30, 2024, and 20,173,438 shares of Common Stock underlying outstanding stock options and warrants for the three months ended September 30, 2024, because the effect would be anti-dilutive.

Diluted earnings (loss) per share do not include 19,429,910 and 18,399,260 shares of Common Stock underlying outstanding stock options and warrants of the Company for the three and nine months ended September 30, 2023, respectively, because the effect would be anti-dilutive.