INCOME (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2024

The Company computes income (loss) per share of common shares. Basic net income (loss) per common share is computed by dividing the net income (loss) by the weighted-average number of common shares outstanding. Diluted income (loss) per common share is computed by dividing the net income (loss) by the weighted-average number of common shares together with the number of additional common shares that would have been outstanding if all potentially dilutive common shares had been issued, unless anti-dilutive.

The following table sets forth the computation of basic and dilutive net income (loss) per share attributable to common shareholders:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Net income (loss)	$	(11,057)	$	2,844	$	(20,691)	$	(67)
Weighted-average number of common shares - basic	157,227,855		152,481,470		156,632,263		152,398,273
Dilutive effect of securities	—		278,618		—		—
Weighted-average number of common shares - diluted	157,227,855		152,760,088		156,632,263		152,398,273
Income (loss) per common share – basic	$	(0.07)	$	0.02	$	(0.13)	$	—
Income (loss) per common share – diluted	$	(0.07)	$	0.02	$	(0.13)	$	—

As of June 30, 2024 and June 30, 2023, potentially dilutive securities include stock options, restricted share units, and convertible debenture conversion. When the Company recognizes a net loss from continuing operations, all potentially dilutive shares are anti-dilutive

and are consequently excluded from the calculation of diluted net loss per share. As such, for the three and six months ended June 30, 2024 and for the six months ended June 30, 2023, all potentially dilutive shares have been excluded. When the Company recognizes net income from continuing operations, the Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period.


	Three Months Ended June 30,		Six Months Ended June 30,
	2024	2023	2024	2023
Outstanding options	4,523,486	7,012,707	4,523,486	7,012,707
Outstanding restricted share units	5,583,322	2,398,844	5,583,322	2,677,462
Total	10,106,808	9,411,551	10,106,808	9,690,169

The Company's debenture is convertible into 19.9% ownership of the Company’s common shares at a conversion price of C$2.00 per common share of the Company. The Company can settle the convertible debenture in shares. If the convertible debenture in diluted EPS is anti-dilutive, or if the conversion value of the debenture does not exceed their conversion price for a reporting period, then the shares underlying the notes will not be reflected in the Company’s calculation of diluted EPS. For the three and six months ended June 30, 2024 and June 30, 2023, the price of the Company’s Shares did not exceed the conversion price and therefore there was no impact to diluted EPS during those periods.