Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Components of Basic and Diluted EPS Computations

The following tables summarize the components of the basic and diluted EPS computations (in thousands, except per share amounts):

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024		2023
EPS — basic:
Net income (loss) (numerator)	$	(2,014	)	$	(5,265	)	$	8,616	$	(15,060	)
Weighted average common shares (denominator)		273,056			265,626			271,706		264,802
Net income (loss) per share	$	(0.01	)	$	(0.02	)	$	0.03	$	(0.06	)
EPS — diluted:
Net income (loss) — basic	$	(2,014	)	$	(5,265	)	$	8,616	$	(15,060	)
Weighted average common shares		273,056			265,626			271,706		264,802
Effect of dilutive securities — common shares issuable		—			—			7,652		—
Adjusted weighted average common shares (denominator)		273,056			265,626			279,358		264,802
Net income (loss) per share	$	(0.01	)	$	(0.02	)	$	0.03	$	(0.06	)

For the six months ended June 30, 2024, diluted net income per share excluded the weighted average effect of 7.8 million RSUs and Market RSUs, 1.9 million options and PNQs and 44.1 million common shares issuable upon conversion of our Senior convertible notes, as they were antidilutive.

Potential Dilutive Securities Outstanding that are Considered Antidilutive

Potentially dilutive securities outstanding which were considered antidilutive due to the net losses incurred for the three months ended June 30, 2024 and three and six months ended June 30, 2023 are summarized as follows (in shares):

	June 30,
	2024		2023
Senior convertible notes		44,120,463		44,120,463
RSUs and Market RSUs(1)		16,750,557		16,951,734
Common stock options and PNQs		7,920,453		8,688,625
Mann Group convertible notes		—		3,370,000
Total shares		68,791,473		73,130,822

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(1)Market RSUs issued in 2021, 2022 and 2023 are included at the share delivery of 194%, 178% and 100%, respectively, in accordance with a valuation assessment obtained as of June 30, 2024.