NET (LOSS) INCOME PER SHARE (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Calculation of Basic and Diluted Earnings Per Common Share

The following table reflects the calculation of basic and diluted (loss) income per common share for the years ended December 31, 2023 and 2022 (in thousands, except for per share amounts):


	Year ended December 31,
	2023		2022
Basic net (loss) income per share
Net (loss) income	$	(331,942)	$	109,625
Weighted-average common shares and warrants outstanding	71,031		47,004
Basic net (loss) income per share	$	(4.67)	$	2.33

Diluted net (loss) income per share
Net (loss) income	$	(331,942)	$	109,625
Add: Convertible debt interest expense and fair value adjustment, net of tax	—		1,560
Adjusted net (loss) income	(331,942)		111,185
Weighted-average common shares and share equivalents outstanding	71,031		47,004
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 (loss) income per share	71,031		54,669
Diluted net (loss) income per share	$	(4.67)	$	2.03

Schedule of Anti-Dilutive Securities Excluded from Computation of Diluted Net (Loss) Income Per Share

The following table reflects outstanding potentially dilutive common shares that are not included in the computation of diluted net (loss) income per share for the years ended December 31, 2023, and 2022, because to do so would be anti-dilutive (in thousands):


	Year ended December 31,
	2023	2022
Convertible notes	10,932	—
Stock-based awards and equivalents	7,474	836
Total potentially dilutive common shares	18,406	836