NET EARNINGS (LOSS) PER SHARE

12 Months Ended

Dec. 31, 2024

NET EARNINGS (LOSS) PER SHARE

NET EARNINGS (LOSS) PER SHARE

NOTE 11 – NET EARNINGS (LOSS) PER SHARE

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

		Year Ended December 31,
(In thousands, except share data)		2022		2023		2024
Numerator:
Net income (loss) for diluted calculation	$	(14,927)	$	8,312	$	2,932
Add:
Financial expenses of 2024 Notes*				(1,168)		39
Net income (loss) for diluted calculation	$	(14,927)	$	7,144	$	2,971
Denominator:
Weighted average shares of Common Stock outstanding for basic calculation		48,472,159		67,512,527		72,530,698
Weighted average dilutive effect of 2024 Notes				13,335,430		7,667,323
Weighted average dilutive effect of stock options and restricted stock				1,576,059		859,155
Weighted average shares of Common Stock outstanding for diluted calculation		48,472,159		82,424,016		81,057,176

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

Diluted loss per share do not include 34,097,716 shares of Common Stock underlying outstanding stock options, warrants and convertible notes of the Company for the year ended December 31, 2022 because the effect would be anti-dilutive. In the year ended December 31, 2023, the diluted earnings per share do not include 18,254,264 shares of Common Stock underlying outstanding warrants and stock options because the effect would be anti-dilutive. In the year ended December 31, 2024, the diluted earnings per share do not include 16,661,907 shares of Common Stock underlying outstanding warrants and stock options because the effect would be anti-dilutive.