Earnings (Loss) per Share

12 Months Ended

Dec. 31, 2022

Earnings (Loss) per Share

Earnings (Loss) per Share

Note 10. Earnings (Loss) 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 Year Ended
	December 31,
	2022		2021
Net income (loss)	$	57,875	$	(32,070)
Less: Net income allocated to participating securities		2,728		—
Basic and diluted earnings available to common stockholders	$	55,147	$	(32,070)
Common shares:
Common shares outstanding — basic		38,351		37,959
Dilutive effect of potential common shares		—		—
Common shares outstanding — diluted		38,351		37,959
Net earnings (loss) per share:
Basic	$	1.44	$	(0.84)
Diluted	$	1.44	$	(0.84)
Antidilutive warrants (1)		—		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.