Earnings Per Share

9 Months Ended

Sep. 30, 2023

Note 12 – Earnings Per Share

As a result of the Stock Split and Mergers discussed in Note 1 – Nature of Operations and Basis of Presentation, all historical per share data, number of shares and numbers of equity awards were retroactively adjusted. The following table provides the computation of basic and diluted earnings per share:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except share and per share data)	2023		2022		2023		2022

Basic income per share:
Net income (loss)	$	(1,568)	$	16,541	$	7,363	$	9,289
Basic weighted average shares outstanding	46,737,443		38,879,992		44,216,541		34,287,628
Basic income (loss) per share of common stock	$	(0.03)	$	0.43	$	0.17	$	0.27

Diluted income per share:
Net income (loss)	$	(1,568)	$	16,541	$	7,363	$	9,289
Basic weighted average shares outstanding	46,737,443		38,879,992		44,216,541		34,287,628
Effect of dilutive securities	—		426,716		380,878		626,506





Diluted weighted average shares outstanding	46,737,443		39,306,708		44,597,419		34,914,134
Diluted income (loss) per share of common stock	$	(0.03)	$	0.42	$	0.17	$	0.27
Anti-dilutive securities excluded from the calculation of diluted income per share	448,910		493,914		—		496,000