(LOSS) EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2021

(LOSS) EARNINGS PER SHARE

The Company presents basic and diluted (loss) earnings per share for its common stock. Basic (loss) earnings per share is calculated by dividing the net (loss) income of the Company by the weighted average number of shares of common stock outstanding during the period. Diluted (loss) earnings per share is determined by adjusting the profit or loss and the weighted average number of shares of common stock outstanding for the effects of all potentially dilutive securities.

The (loss) earnings is used as the basis of determining whether the inclusion of common stock equivalents would be anti-dilutive. The computation of diluted shares for the three months ended March 31, 2021 and 2020 excludes the effect of these common stock equivalents as their inclusion would be anti-dilutive to the loss per share recorded in those periods. As of March 31, 2021 there were 2,285,784 warrants, 789,586 stock options and 1,080,334 restricted stock awards outstanding that were excluded from the calculation of loss per share for the three months ended March 31, 2021 as they would be anti-dilutive. As of March 31, 2020, there were 2,328,120 warrants, 531,747 stock options and 484,326 restricted stock awards outstanding that were excluded from the calculation of loss per share for the three months ended March 31, 2020 as they would be anti-dilutive.

The following table presents the Company’s basic and diluted (loss) earnings per share and shares outstanding (in thousands, except per share data):


	Three Months Ended March 31,
	2021		2020
Numerator:
Net loss	$	(2,861)	$	(19,910)
Denominator:
Weighted average number of common shares outstanding	179,808		176,661
Loss per common share:
Loss per common share, basic	$	(0.02)	$	(0.11)