Net (Loss) Income Per Common Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic

The following table provides a reconciliation of Net loss (income) to Net loss (income) available to common shareholders and calculation of basic net income (loss) per common share for each of the three and nine months ended September 30, 2020 and 2019 (amounts in thousands, except share and per share amounts):

	Three Months Ended September 30,					Nine Months Ended September 30,
	2020			2019		2020			2019
Net (loss) income	$	(19,417	)	$	12,379	$	(32,704	)	$	(18,104	)
Adjustments to reconcile to net (loss) income available to common stockholders
Accrued dividend on Series B Convertible Preferred Stock	997			—		997			—
Amortization of beneficial conversion feature	31,110			—		31,110			—
Accretion of increasing-rate dividend feature	458			—		458			—
Total adjustments	32,565			—		32,565			—
Net (loss) income available to common stockholders	$	(51,982	)	$	12,379	$	(65,269	)	$	(18,104	)
Weighted average common shares outstanding	108,493,208			107,157,561		108,222,419			106,929,643
Basic net (loss) income per common share	$	(0.48	)	$	0.12	$	(0.60	)	$	(0.17	)

Schedule of Earnings Per Share, Diluted

The following table sets forth the computation of basic and diluted net loss per common share (in thousands except share data):

	Three Months Ended September 30,					Nine Months Ended September 30,
	2020			2019		2020			2019
Net (loss) income available to common stockholders	$	(51,982	)	$	12,379	$	(65,269	)	$	(18,104	)
Dividends on Series B Convertible Preferred Stock	32,565			—		32,565			—
Numerator	$	(51,982	)	$	12,379	$	(65,269	)	$	(18,104	)
Weighted average shares outstanding	108,493,208			107,157,561		108,222,419			106,929,643
Potential common shares (a)	28,625,684			2,432,447		11,032,820			1,635,797
Weighted average shares outstanding adjusted for potential common shares	108,493,208			109,590,008		108,222,419			106,929,643
Diluted net (loss) income per common share	$	(0.48	)	$	0.11	$	(0.60	)	$	(0.17	)

(a) Potential common shares reflects hypothetical transactions involving convertible securities and share-based payment awards using the if-converted and treasury stock methods, respectively. The effect of each of these adjustments on the calculation is presented in the table below:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
Series B Convertible Preferred Stock	25,691,700	—	8,626,410	—
Outstanding Stock Options	772,967	848,507	739,937	903,344
Performance Based Awards	37,931	—	25,735	—
Restricted Stock Awards	1,203,853	1,583,940	1,281,635	732,453
Restricted Stock Unit Awards	919,233	—	359,103	—
	28,625,684	2,432,447	11,032,820	1,635,797