LOSS PER COMMON SHARE

12 Months Ended

Dec. 31, 2023

Basic loss per common share is computed using net loss divided by the weighted-average number of common shares outstanding during each period, excluding unvested restricted stock units ("RSUs") and performance stock units ("PSUs").

Diluted loss per common share represents net loss divided by the weighted-average number of common shares outstanding during the period, including common stock equivalents. Common stock equivalents consist of shares subject to warrants and share-based awards with exercise prices less than the average market price of the Company’s common stock for the period, to the extent their inclusion would be dilutive. Regarding RSUs subject to a market condition, before the end of the contingency period, the number of contingently issuable shares (i.e., RSUs) to be included in diluted loss per common share would be based on the number of shares of common stock issuable under the terms of the arrangement if the end of the reporting period was the end of the contingency period, assuming the result would be dilutive. Those contingently issuable shares would be included in the denominator of diluted loss per common share as of the beginning of the period, or as of the grant date of the share-based payment, if later.

The following table presents basic and diluted loss per common share for the years ended December 31, 2023, and 2022:


	Years ended December 31,
	2023		2022
Net loss	$	(64,813)	$	(285,415)
Weighted-average shares of common stock outstanding	45,508,363		44,974,856
Dilutive effect of warrants and share based compensation awards using the treasury stock method	—		—
Diluted weighted-average shares of common stock outstanding	45,508,363		44,974,856
Basic loss per common share	$	(1.42)	$	(6.35)
Diluted loss per common share	$	(1.42)	$	(6.35)

The computation of the weighted-average shares of common stock outstanding for diluted loss per common share excludes the following potential shares of common stock as their inclusion would have an anti-dilutive effect on diluted loss per common share:


	Years ended December 31,
	2023	2022
Shares subject to warrants outstanding	—	17,669
Shares subject to unvested performance and restricted stock units	2,163,392	1,088,879
Shares subject to stock options outstanding	571,359	670,026