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Earnings (loss) per share
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Earnings per share

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 June 30,

 

 

Six Months Ended June 30,

 

(In thousands, except share data)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

1,388

 

 

$

(205

)

 

$

2,104

 

 

$

(98

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

13,961,862

 

 

 

13,776,479

 

 

 

13,979,411

 

 

 

13,660,686

 

Diluted(1)

 

 

14,172,024

 

 

 

13,776,479

 

 

 

14,180,614

 

 

 

13,660,686

 

Earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.10

 

 

$

(0.01

)

 

$

0.15

 

 

$

(0.01

)

Diluted

 

$

0.10

 

 

$

(0.01

)

 

$

0.15

 

 

$

(0.01

)

(1)
For the three and six months ended June 30, 2023, diluted weighted average shares outstanding are calculated by the inclusion of unvested restricted stock units ("RSUs"). For the three and six months ended June 30, 2022, a total of 1,070,368 unvested RSUs have been excluded from the diluted loss per share, as the impact is anti-dilutive.