Net Income (Loss) per Common Share

12 Months Ended

Dec. 31, 2021

12. Net Income (Loss) per Common Share

Basic net income (loss) per common share is computed by dividing net income (loss) available to common stockholders during the period by the weighted average number of common shares outstanding during that period. Diluted net income (loss) 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.

The calculations for basic and diluted net income (loss) per common share for the years ended December 31, 2021 and 2020 are as follows:

	Year Ended December 31,
	2021			2020
Basic net income (loss) per common share:
Numerator:
Net income (loss)	$	1,620		$	(5,105	)
Less: accretion of Series B convertible preferred stock dividends		(1,148	)		(1,094	)
Net income (loss) available to common stockholders	$	472		$	(6,199	)

Denominator:
Weighted average common shares outstanding - basic		21,340			17,978
Net income (loss) per common share - basic	$	0.02		$	(0.34	)

Diluted net income (loss) per common share:
Numerator:
Net income (loss) available to common stockholders	$	472		$	(6,199	)
Plus: accretion of Series B convertible preferred stock dividends, if dilutive		—			—
Net income (loss) available to common stockholders	$	472		$	(6,199	)

Denominator:
Weighted average common shares outstanding - basic		21,340			17,978
Dilutive securities:
Stock options, RSUs, and warrants		927			—
Weighted average common shares outstanding - diluted		22,267			17,978
Net income (loss) per common share - diluted	$	0.02		$	(0.34	)

The following common stock equivalents have been excluded from diluted net income (loss) per share for the fiscal years ended December 31, 2021 and 2020 because their inclusion would have been anti-dilutive (in thousands):

	December 31,
	2021		2020
Shares of common stock subject to outstanding RSUs		—		683
Shares of common stock subject to outstanding stock options		—		551
Shares of common stock subject to outstanding warrants		—		315
Shares of common stock issuable upon conversion of Series B convertible preferred stock		6,029		5,742
Total		6,029		7,291