Income (Loss) Per Share

9 Months Ended

Sep. 30, 2022

The following table sets forth the computation of basic and diluted income (loss) per share (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

Net income (loss)	$	40,822	$	(27,561)	$	13,542	$	(28,502)
Preferred dividends and accretion	12,257		5,479		36,045		5,479
Net income (loss) to common shareholders	$	28,565	$	(33,040)	$	(22,503)	$	(33,981)
Basic:
Weighted average shares	150,322		130,955		149,604		128,315
Income (loss) per share	$	0.19	$	(0.25)	$	(0.15)	$	(0.26)
Diluted:
Effect of Restricted Stock and Performance Awards	1,060		—		—		—
Weighted average shares	151,382		130,955		149,604		128,315
Income (loss) per share	$	0.19	$	(0.25)	$	(0.15)	$	(0.26)

Potentially dilutive common shares issuance pursuant to equity-based awards of 108,111 were not included as their effect was anti-dilutive for the three months ended September 30, 2022. Potentially dilutive common shares issuable pursuant to equity-based awards of 2,504,046 and 1,203,520 were not included for the nine

months ended September 30, 2022 and 2021, respectively, and 1,203,520 for the three months ended September 30, 2021, as their potential effect was anti-dilutive since the Company generated a net loss to common stock holders. There were no potentially dilutive common shares issuable pursuant to the Convertible Notes, as the stock price is below the strike price.