Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2022

2. Earnings (loss) per share

Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the periods. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and is calculated using the treasury stock method for unvested shares. Common equivalent shares are excluded from the calculation in the loss periods as their effects would be anti-dilutive.


	Three Months Ended March 31,
(In thousands, except share data)	2022		2021
Numerator:
Net income (loss)	$	107	$	(578	)
Denominator:
Weighted average shares outstanding:
Basic		13,543,607		12,207,193
Diluted(1)		14,047,635		12,207,193
Earnings (loss) per share:
Basic	$	0.01	$	(0.05	)
Diluted	$	0.01	$	(0.05	)

(1)

For the three months ended March 31, 2022, diluted weighted average shares outstanding are calculated by the inclusion of unvested restricted stock units (“RSUs”). For the three months ended March 31, 2021, a total of 1,686,499 unvested RSUs have been excluded from the diluted loss per share, as the impact is anti-dilutive.