Note F - Earnings Per Share

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE F—EARNINGS PER SHARE

Basic net loss per share has been computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share has been computed using the weighted-average number of shares of common stock and dilutive potential common shares from options and restricted stock units outstanding during the period. Convertible senior notes are included in the denominator as if it were converted at the beginning of the period or, if issued during the period, at the time of issuance. In periods with net losses, normally dilutive shares become anti-dilutive. Therefore, basic and dilutive earnings per share are the same.

The following table presents the computation of the basic and diluted net loss per share for the periods indicated (in thousands):

	Year ended December 31,
	2024			2023			2022
Numerator:
Net loss	$	(186,733	)	$	(56,048	)	$	(66,397	)
Denominator:
Weighted average shares used to compute net loss per share
Basic		41,539			31,944			27,846
Effect of dilutive options and restricted stock units		—			—			—
Diluted		41,539			31,944			27,846
Net loss per share
Basic	$	(4.50	)	$	(1.75	)	$	(2.38	)
Diluted	$	(4.50	)	$	(1.75	)	$	(2.38	)

The following potentially dilutive securities were excluded from diluted net loss per share as their effect would have been antidilutive (in thousands):

	As of December 31,
	2024		2023
Employee stock options		-		-
Restricted stock units		2,709		1,167
Shares for Notes 2026		5,153		5,264
Shares for Notes 2030		63		-
Total antidilutive shares		7,925		6,431