Earnings per Share

6 Months Ended

Jun. 30, 2022

Earnings per Share

Earnings per Share

Note 9. Earnings per Share

The following sets forth the calculation of earnings (loss) per share, or EPS, for the periods indicated (in thousands, except per share amounts):

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Net income (loss)	$	29,220	$	(35,023)	$	(19,394)	$	(54,351)
Less: Net income allocated to participating securities		1,402		—		—		—
Basic and diluted earnings available to common stockholders	$	27,818	$	(35,023)	$	(19,394)	$	(54,351)
Common shares:
Common shares outstanding — basic		38,330		37,983		38,256		37,907
Dilutive effect of potential common shares		—		—		—		—
Common shares outstanding — diluted		38,330		37,983		38,256		37,907
Net earnings (loss) per share:
Basic	$	0.73	$	(0.92)	$	(0.51)	$	(1.43)
Diluted	$	0.73	$	(0.92)	$	(0.51)	$	(1.43)
Antidilutive warrants (1)		—		2,174		—		2,174

(1) Amount represents warrants to purchase common stock that are excluded from the diluted net earnings per share calculations because of their antidilutive effect.