Net Income (Loss) Per Common Share

12 Months Ended

Dec. 31, 2023

NET INCOME (LOSS) PER COMMON SHARE

Please 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:


	Year Ended
	December 31,
($s in thousands)		2023		2022		2021
Weighted average number of common shares outstanding - basic		54,809,462		42,491,433		32,596,272
Incremental common shares-unvested RSUs		—		76,950		55,019
Incremental common shares-unvested PSUs		—		174,654		110,040
Weighted average number of common shares outstanding - diluted		54,809,462		42,743,037		32,761,331

Net (loss) income to common shareholders		$	(13,824)	$	135,467	$	90,945
Net (loss) income per common share-basic		$	(0.25)	$	3.19	$	2.79
Net (loss) income per common share-diluted		$	(0.25)	$	3.17	$	2.78

The calculation of diluted net loss per common share for the year ended December 31, 2023 excludes unvested RSUs and PSUs of 401,522, which would have been anti-dilutive for the period.