Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2023

15. Net Income (Loss) Per Common Share

The following is a reconciliation of the weighted average common shares outstanding used to compute basic and diluted net income (loss) per common share:


	2023		2022		2021
Basic weighted average common shares outstanding		35,093,963		35,184,336		34,903,189
Effect of dilutive securities - equity compensation awards		868,815		—		549,366
Diluted weighted average common shares outstanding		35,962,778		35,184,336		35,452,555

Equity compensation awards for which total employee proceeds from exercise exceed the average fair value of the same equity incentive instrument over the period have an anti-dilutive effect on earnings per share during periods with net income, and accordingly, are excluded from diluted weighted average common shares outstanding. Anti-dilutive equity instruments of 431,392 and 358,706 common shares were excluded from the computation of diluted net income per share for the years ended December 31, 2023 and 2021, respectively. Due to the net loss during the year ended December 31, 2022, the assumed exercise of all equity instruments was anti-dilutive and, therefore, not included in the diluted loss per share calculation for the period.

No cash dividends were declared or paid as of December 31, 2023, 2022 and 2021.