Net Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2024

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:


	Three Months Ended
	March 31,
($s in thousands)	2024		2023
Weighted average number of common shares outstanding - basic	59,008,316		53,823,866
Incremental common shares-unvested RSUs	379,880		—
Incremental common shares-unvested PSUs	329,136		—
Weighted average number of common shares outstanding - diluted	59,717,332		53,823,866

Net income (loss) to common shareholders	$	38,195	$	(43,645)
Net income (loss) per common share-basic	$	0.65	$	(0.81)
Net income (loss) per common share-diluted	$	0.64	$	(0.81)

The calculation of diluted net loss per common share for the three months ended March 31, 2023 excludes unvested RSUs and PSUs of 270,106, which would have been anti-dilutive for the period.