Loss Per Share

12 Months Ended

Dec. 31, 2022

(16) Loss Per Share

The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31, 2022 and 2021:


(In thousands, except per share data)	Year ended December 31, 2022			Year ended December 31, 2021
Basic and diluted
Net loss	$	(65,916	)	$	(103,954	)
Weighted average common shares outstanding used in computing net loss per share—basic		19,707			10,621
Plus: net effect of dilutive stock options and unvested restricted common shares		—			—
Weighted average common shares outstanding used in computing net loss per share—diluted		19,707			10,621
Net loss per share—basic	$	(3.34	)	$	(9.79	)
Net loss per share—diluted	$	(3.34	)	$	(9.79	)

The difference between basic and diluted shares is that diluted shares include the dilutive effect of the assumed exercise of outstanding securities. The Company’s stock options and unvested shares of restricted common stock could have the most significant impact on diluted shares.

Securities that could potentially be dilutive are excluded from the computation of diluted loss per share when a loss from continuing operations exists or when the exercise price exceeds the average closing price of the Company’s common stock during the period, because their inclusion would result in an anti-dilutive effect on per share amounts.

The following amounts were not included in the calculation of net income per diluted share because their effects were anti-dilutive:


(In thousands)	Year ended December 31, 2022		Year ended December 31, 2021
Denominator
Stock options and restricted common shares		996		1,199

Performance share units are excluded from the calculation of net loss per diluted share as the performance criteria has not been met for the years ended December 31, 2022 and 2021. Additionally, the impact of the convertible debt was determined to be anti-dilutive and excluded from the calculation of net income per diluted share for the years ended December 31, 2022 and 2021.