Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings per Share

Summary of computation of basic and diluted net income (loss) per share

The following table sets forth the computation of basic and diluted net income (loss) per share:

	Year Ended December 31,
	2022		2021		2020
Numerator
Net income (loss)	$	181,468	$	34,597	$	(36,944)
Accumulation of dividends on preferred stock		—		—		(26,904)
Net income (loss) available to common shareholders	$	181,468	$	34,597	$	(63,848)
Denominator
Net income (loss) per common share - basic	$	3.07	$	0.60	$	(2.48)
Net income (loss) per common share - diluted	$	2.97	$	0.58	$	(2.48)
Weighted average number of shares of common stock - basic		59,173,121		57,531,540		25,772,419
Weighted average number of shares of common stock - diluted		61,097,045		59,205,213		25,772,419

Summary of antidilutive securities excluded from computation of earnings per share

	Year Ended December 31,
	2022		2021		2020
Stock options, SARs, and RSUs to purchase common stock		1,923,924		1,536,825		—
Warrants		—		136,848		—
Total		1,923,924		1,673,673		—

Potential common shares issuable upon conversion of preferred stock, exercise of stock options, and exercise of warrants that were excluded from the computation of diluted weighted-average shares outstanding as well as the warrant fair value adjustments excluded from the numerator are as follows:

	Year Ended December 31,
	2022		2021		2020
Stock options, SARs, and RSUs to purchase common stock		4,640,231		4,289,066		5,260,126
Convertible preferred stock		—		—		—
Warrants		—		—		410,239
Total		4,640,231		4,289,066		5,670,365
Adjustment for warrants	$	—	$	—	$	3,109