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Loss Per Share
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Loss Per Share Loss Per Share
 
Basic loss per common share is calculated by dividing net loss by the weighted average number of common shares outstanding for the period. The Initial Warrant, as defined in Note 12, Long-Term Debt, was issued at a nominal exercise price and is considered outstanding at the date of issuance. Diluted loss per share is calculated by dividing net loss by the weighted average shares outstanding assuming dilution. Dilutive common shares outstanding is computed using the treasury stock method and reflects the additional shares that would be outstanding if dilutive stock options were exercised and restricted stock and restricted stock units were settled for common shares during the period. In addition, dilutive shares include any shares issuable related to performance share units ("PSUs") for which the performance conditions have been met as of the end of the period.

There were no dilutive effects for securities during the three months ended March 31, 2019 as a result of a net loss incurred in the period. In connection with the closing of the term loan in the third quarter of 2019, the Company issued the Initial Warrant which is classified and recorded as a liability at fair value with subsequent changes in fair value recognized in earnings. Refer to Note 12, Long-Term Debt, for additional information. For diluted earnings per share, changes in fair value related to the Initial Warrant are adjusted out of earnings when the adjustment would not result in an increase to earnings and thus be considered antidilutive. As the adjustment to exclude the change in fair value would decrease earnings this period, net loss for the period was adjusted for the three months ended March 31, 2020.

The computation of basic and diluted loss per share is as follows (in thousands, except per share amounts):
 
 
Three Months Ended March 31,
 
 
2020
 
2019
Numerator:
 
 
 
 
Net loss - basic
 
$
(2,840
)
 
$
(2,044
)
Adjustments:
 
 
 
 
Change in fair value of Initial Warrant liability
 
(5,205
)
 
—

Net loss - diluted
 
$
(8,045
)
 
$
(2,044
)
 
 
 
 
 
Denominator:
 
 
 
 
Weighted average shares outstanding
 
52,139

 
51,830

Issuance of Initial Warrant
 
1,335

 
—

Weighted average shares outstanding - basic and diluted
 
53,474

 
51,830

 
 
 
 
 
Basic loss per share
 
$
(0.05
)
 
$
(0.04
)
Diluted loss per share
 
$
(0.15
)
 
$
(0.04
)