NET INCOME (LOSS) PER SHARE

12 Months Ended

Dec. 31, 2023

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE

NOTE 14 NET INCOME (LOSS) PER SHARE

Basic net income (loss) per share is computed by dividing the net income available to common shareholders by the weighted average number of common shares outstanding during the year. Diluted net income per share is computed similarly except that the weighted average number of common shares is increased to reflect all dilutive instruments. Diluted net income (loss) per share is calculated using the treasury stock method. In applying the treasury stock method, employee stock options with an exercise price greater than the average quoted market price of the common shares for the period outstanding are not included in the calculation of diluted net income (loss) per share as the impact would be anti-dilutive. Potentially dilutive instruments are not considered in calculating the diluted income (loss) per share, as their effect would be anti-dilutive.

Below is a reconciliation of the basic and diluted weighted average number of common shares and the computations for basic and diluted net income (loss) per share for the years ended December 31, 2023, 2022 and 2021:

	Year ended December 31,
	2023		2022		2021
Net income (loss)	$	55,299	$	(81,075)	$	(56,712)
Weighted average common shares outstanding:		47,544		47,427		45,490
Diluted shares outstanding:		47,544		47,427		45,490
Net income (loss) per share - basic and diluted	$	1.16	$	(1.71)	$	(1.25)

For the year ended December 31, 2023, the outstanding options for which the average market price during the year exceeded the exercise price were anti-dilutive under the treasury stock method and, therefore, not included in the calculation of diluted income per share. For the years ended December 31, 2022, and 2021, all outstanding options to purchase shares of common stock and share purchase warrants were excluded from the respective computations of diluted loss per share, as the Company was in a loss position, and all potentially dilutive instruments were anti-dilutive and, therefore, not included in the calculation of diluted net loss per share.