Net Income (Loss) Per Common Share

6 Months Ended

Jun. 30, 2023


NOTE 11. Net Income (Loss) Per Common Share

Basic net income (loss) per common share (“EPS”) is computed based upon the weighted average number of common shares outstanding. Diluted net income (loss) per common share is computed based upon the weighted average number of common shares outstanding plus the impact of common shares issuable from the assumed conversion of stock options, certain performance restricted stock units, and unvested restricted stock units. Only those instruments having a dilutive impact on basic net income (loss) per share are included in diluted net income (loss) per share during the periods presented.

The following table illustrates the computation of basic and diluted EPS (in thousands, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator
Income (loss) from continuing operations	$	(16,795)	$	(21,038)	$	(836)	$	(20,312)
Noncontrolling interests’ share in (earnings) loss from continuing operations	46		82		109		157
Net income (loss) attributable to common stockholders before discontinued operations	(16,749)		(20,956)		(727)		(20,155)
Income (loss) from discontinued operations	—		307		—		736
Net income (loss) attributable to common stockholders	$	(16,749)	$	(20,649)	$	(727)	$	(19,419)
Denominator
Weighted average shares outstanding – basic	410,338		407,339		411,748		404,666
Weighted average shares outstanding – diluted	410,338		407,339		411,748		404,666
Net income (loss) per share attributable to common stockholders
Net income (loss) per common share from continuing operations, basic and diluted	$	(0.04)	$	(0.05)	$	—	$	(0.05)
Net income (loss) per common share from discontinued operations, basic and diluted	$	—	$	—	$	—	$	—

The following table provides the weighted-average potential shares of common stock that were excluded from the calculation of diluted net income (loss) per share attributable to common stockholders because their effect would have been anti-dilutive (in thousands):


	Six Months Ended June 30,
	2023	2022
Stock options	17,865	23,903
Restricted stock units	9,021	1,260