Net Income (Loss) Per Common Share

6 Months Ended

Jun. 30, 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				Six Months Ended
	June 30,				June 30,
($s in thousands)	2024		2023		2024		2023
Weighted average number of common shares outstanding - basic	66,954,870		54,137,327		63,003,545		53,981,463
Incremental common shares-unvested RSUs	—		160,303		460,118		119,570
Incremental common shares-unvested PSUs	—		287,452		449,493		226,352
Weighted average number of common shares outstanding - diluted	66,954,870		54,585,082		63,913,156		54,327,385

Net (loss) income to common shareholders	$	(10,227)	$	52,414	$	27,968	$	8,769
Net (loss) income per common share-basic	$	(0.15)	$	0.97	$	0.44	$	0.16
Net (loss) income per common share-diluted	$	(0.15)	$	0.96	$	0.44	$	0.16

The calculation of diluted net loss per common share for the three months ended June 30, 2024 excludes unvested RSUs and PSUs of 1,110,206, which would have been anti-dilutive for the period.