Net Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2023

NET INCOME (LOSS) PER COMMON SHAREPlease refer to Note 1 for information regarding the Company’s treatment of its preferred stock and stock awards in the calculation of its basic and diluted net income or loss per common share and to Note 7 for information

regarding the Company’s stock award activity for the periods presented. The following table presents the computations of basic and diluted net income or loss per common share for the periods indicated:


	Three Months Ended
	March 31,
		2023		2022
Weighted average number of common shares outstanding - basic		53,823,866		36,725,365
Incremental common shares-unvested RSUs		—		128,786
Incremental common shares-unvested PSUs		—		257,582
Weighted average number of common shares outstanding - diluted		53,823,866		37,111,733

Net (loss) income to common shareholders		$	(43,645)	$	115,286
Net (loss) income per common share-basic		$	(0.81)	$	3.14
Net (loss) income per common share-diluted		$	(0.81)	$	3.11

For the three months ended March 31, 2023, 270,106 of potentially dilutive RSUs and PSUs were excluded from the computation of diluted net loss per common share because including them would have been anti-dilutive for the period.