Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2024

Net income (loss) per share of common stock:

Earnings (Loss) Per Share

16. Earnings (Loss) Per Share

The following is a reconciliation of the numerator and denominator used to calculate basic earnings (loss) per share and diluted earnings (loss) per share for the three months ended March 31, 2024 and 2023:

	March 31, 2024		March 31, 2023
	(As Restated)
Basic earnings (loss):
Basic earnings	$	16,774	$	(2,778	)
Diluted earnings (loss):
Net income (loss)	$	16,774	$	(2,778	)
Chang in fair value of derivative liability		58		—
Interest expense from Convertible Notes		93		—
Diluted earnings (loss)	$	16,925	$	(2,778	)
Basic weighted average shares		30,456,235		20,823,622
Potentially diluted shares		3,791,723		—
Diluted shares		34,247,958		20,823,622
Earnings per share
Basic	$	0.55	$	(0.13	)
Diluted	$	0.49	$	(0.13	)

During the three months ended March 31, 2024 and 2023, stock options to purchase 2,087,250 and 2,835,000 shares of common stock and warrants to purchase 22,625,342 and nil shares of common stock, respectively, were not considered in calculating diluted earnings (loss) per share because the options and warrants are considered out-of-money. There were no other potential shares excluded from the computation of diluted net income (loss) per share during the three months ended March 31, 2024 and 2023.