(Loss) Income Per Common Share

6 Months Ended

Jun. 30, 2024

The following table sets forth the computation of basic and diluted (loss) income per common share (in thousands, except per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
Basic (loss) income per common share	2024		2023		2024		2023
Net (loss) income	$	(2,121)	$	(3,382)	$	5,412	$	(16,914)
Net loss (income) allocated to participating securities	4		12		(13)		68
Net (loss) income allocated to common shareholders	$	(2,117)	$	(3,370)	$	5,399	$	(16,846)

Basic weighted-average common shares outstanding	41,683		40,755		41,487		40,595
Basic (loss) income per common share	$	(0.05)	$	(0.08)	$	0.13	$	(0.41)


	Three Months Ended June 30,				Six Months Ended June 30,
Diluted (loss) income per common share	2024		2023		2024		2023
Net (loss) income	$	(2,121)	$	(3,382)	$	5,412	$	(16,914)
Net loss (income) allocated to participating securities	4		12		(12)		68

Net (loss) income allocated to common shareholders	$	(2,117)	$	(3,370)	$	5,400	$	(16,846)

Basic weighted-average common shares outstanding	41,683		40,755		41,487		40,595
Effect of dilutive stock options and awards	—		—		918		—

Diluted weighted-average common shares outstanding	41,683		40,755		42,405		40,595
Diluted (loss) income per common share	$	(0.05)	$	(0.08)	$	0.13	$	(0.41)

We excluded stock options from the calculation of diluted weighted-average common shares outstanding if the per share value, including the sum of (i) the exercise price of the options and (ii) the amount of the compensation cost attributed to future services and not yet recognized, was greater than the average market price of the shares because the inclusion of these stock options would be antidilutive to loss per common share. For the three months ended June 30, 2024 all stock options and awards were excluded from the calculation of diluted weighted-average common shares outstanding as these would be antidilutive due to the net loss. For the six months ended June 30, 2024 781,000 potential common shares related to stock options and awards were antidilutive and excluded from the calculation of diluted weighted-average common shares outstanding. For the three and six months ended June 30, 2023 all stock options and awards were excluded from the calculation of diluted weighted-average common shares outstanding as these would be antidilutive due to the net loss.