NET INCOME (LOSS) PER SHARE (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of calculation of basic and diluted earnings per common share

The following table reflects the calculation of basic and diluted earnings per common share for the years ended December 31, 2022 and 2021 (in thousands, except for per share amounts):


	Year ended December 31,
	2022		2021
Basic net income (loss) per share
Net income (loss)	$	109,625	$	(1,281)
Weighted-average common shares and warrants outstanding	47,004		43,169
Basic net income (loss) per share	$	2.33	$	(0.03)

Diluted net income (loss) per share
Net income (loss)	$	109,625	$	(1,281)
Add: Convertible debt interest expense and fair value adjustment, net of tax	1,560		—
Adjusted net income (loss)	111,185		(1,281)
Weighted-average common shares and share equivalents outstanding	47,004		43,169
Add: effect of dilutive stock-based awards and equivalents	1,530		—
Add: effect of dilutive convertible debt under if-converted method	6,135		—
Denominator for diluted income (loss) per share	54,669		43,169
Diluted net income (loss) per share	$	2.03	$	(0.03)

Schedule of antidilutive securities excluded from computation of diluted net income (loss) per share

The following table reflects outstanding potentially dilutive common shares that are not included in the computation of diluted net income (loss) per share for the years ended December 31, 2022, and 2021, because to do so would be anti-dilutive (in thousands):


	Year ended December 31,
	2022	2021
Convertible notes	—	3
Stock-based awards and equivalents	836	2,914
Total potentially dilutive common shares	836	2,917