Net Income (Loss) per Common Share

9 Months Ended

Sep. 30, 2025

Note 10. Net Income (Loss) per Common Share

Basic net income (loss) per common share is computed by dividing net loss available to common stockholders during the period by the weighted average number of common shares outstanding during that period. Diluted net income per common share is impacted by equity instruments considered to be potential common shares, if dilutive, computed using the treasury stock or the if-converted method of accounting. Dilutive potential common share equivalents are excluded from the computation of net income (loss) per share in loss periods, as their effect would be anti-dilutive.


	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
Net loss from continuing operations	$	(3,451	)	$	(9,329	)	$	(14,282	)	$	(21,634	)
Net income from discontinued operations, net of tax		—			95,278			—			96,809
Net income (loss)		(3,451	)		85,949			(14,282	)		75,175
Less: accretion of Series B convertible preferred stock dividends		(207	)		(201	)		(617	)		(682	)
Net income (loss) available to common stockholders	$	(3,658	)	$	85,748		$	(14,899	)	$	74,493

Weighted average common shares outstanding - basic		23,849			23,660			23,736			23,496
Effect of dilutive potential common shares		—			—			—			—
Weighted average common shares outstanding - diluted		23,849			23,660			23,736			23,496

Basic and diluted net income (loss) per common share:
Continuing operations	$	(0.15	)	$	(0.40	)	$	(0.63	)	$	(0.95	)
Discontinued operations, net of tax	$	—		$	4.03		$	—		$	4.12
Net income (loss) per common share	$	(0.15	)	$	3.62		$	(0.63	)	$	3.17

The following common stock equivalents have been excluded from diluted net income (loss) per share for the three and nine months ended September 30, 2025 and 2024 because their inclusion would have been anti-dilutive (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Shares of common stock subject to outstanding RSUs		876		964		876		964
Shares of common stock subject to outstanding PSUs		300		478		300		478
Shares of common stock subject to outstanding stock options		—		444		—		444
Shares of common stock issuable upon conversion of Series B convertible preferred stock		7,022		6,817		7,022		6,817
Total		8,198		8,703		8,198		8,703