Earnings Per Share

12 Months Ended

Dec. 31, 2023

9. Earnings Per Share

The following table sets forth the components of basic and diluted loss per share ($ in thousands, except share and per share amounts):


	Year ended December 31,
		2023		2022
Numerator
Net loss		$	(32,546)	$	(15,934)

Gain of preferred stock transaction		—		5,122
Numerator for earnings per share - net loss attributable to common stockholders		$	(32,546)	$	(10,812)

Denominator
Weighted average common stock outstanding - basic		2,925,744		3,259,755



Weighted average common stock outstanding - diluted		2,925,744		3,259,755

Loss per basic common share		$	(11.12)	$	(3.32)
Loss per diluted common shares		$	(11.12)	$	(3.32)

On September 8, 2023, the Company’s Board of Directors approved a 70% stock dividend. Each stockholder of record on September 18, 2023 received a dividend of seven tenths additional share of common stock for each then-held share, with any fractional shares rounded up, to be distributed after close of trading on October 31, 2023. The Company’s common stock began trading on a stock-adjusted basis on November 1, 2023, which is the ex-dividend date of the effective date of the dividend. The par value of the Company’s common stock was not affected by the split and remained at $0.01 per share. The computations of basic and diluted EPS have been adjusted on a retrospective basis for all periods presented. The common stock and per-share data has been retroactively adjusted as well, as the ex-dividend date occurred before the interim financial statements were issued.

We excluded the items presented below from the calculation of diluted loss per share as they were antidilutive for the periods indicated, as the Company had a net loss from operations for each period presented ($ in thousands):


	Year ended December 31,
		2023	2022
Denominator

Restricted stock		35,595	28,840
Preferred stock, if converted		196,128	196,238