Net (Loss) Income Per Share

9 Months Ended

Sep. 30, 2024

Net (Loss) Income Per Share:

Net (Loss) Income Per Share

(16) Net (Loss) Income Per Share

Basic net (loss) income per share is computed by dividing net (loss) income by the weighted average number of shares of common stock outstanding. Shares issued during the period and shares reacquired during the period are weighted for the portion of the period that they were outstanding. Diluted net (loss) income per share is computed in a manner consistent with that of basic earnings per share while giving effect to all potentially dilutive shares of common stock outstanding during the period, which include the assumed exercise of stock options and warrants using the treasury stock method. Diluted net (loss) income per share was the same as basic net (loss) income per share for the three and nine months ended September 30, 2024, as shares issuable upon the exercise of stock options and warrants were anti-dilutive as a result of the net losses incurred for those periods.

The table below sets forth the computation of basic and diluted (loss) earnings per share (in thousands, except per share data):

	Three Months Ended September 30,					Nine Months Ended September 30,
	2024			2023		2024			2023
Numerator:
Net (loss) income	$	(5,024	)	$	9,231	$	(13,284	)	$	4,963
Denominator:
Basic – weighted average shares outstanding		135,100,233			128,140,238		131,881,302			115,380,792
Effect of dilutive securities:
Employee restricted stock units		-			2,270,924		-			3,199,497
Warrants		-			5,252,112		-			5,252,112
Diluted – weighted average shares outstanding		135,100,233			135,663,274		131,881,302			123,832,401
Basic (loss) earnings per share		(0.04	)		0.07		(0.10	)		0.04
Diluted (loss) earnings per share		(0.04	)		0.07		(0.10	)		0.04

For the three months ended September 30, 2024 and 2023, 22,289,457 and 13,856,656 stock options, restricted stock units and warrants were excluded for the diluted (loss) earnings per share calculation as they were anti-dilutive. For the nine months ended September 30, 2024 and 2023, 22,289,457 and 12,658,083 stock options, restricted stock units and warrants were excluded for the diluted (loss) earnings per share calculation as they were anti-dilutive.